Ho Chi Minh City's Van Thanh canal renovation project anticipates land compensation rates reaching nearly 257 million VND per square meter for prime urban residential areas. The Compensation, Support, and Resettlement Council for the Van Thanh canal project in Thanh My Tay ward, Binh Thanh district, is currently publicizing the draft compensation plan to gather feedback from affected residents. This extensive project, aimed at addressing over two decades of pollution and persistent flooding, involves acquiring over 237,200 m2 of land, impacting more than 1,000 households. Total compensation, support, and resettlement costs are estimated at over 6,200 billion VND. The public consultation period spans 10 days, with land handover anticipated in Q1 next year for construction commencement.

Van Thanh canal, 7/2026. *Photo: Quynh Tran*

According to the draft plan, the highest compensation rate is nearly 257 million VND per m2 for urban residential land at position 1, specifically for properties with both street and alley frontage on Dien Bien Phu street. Other position 1 land on Dien Bien Phu street is valued at nearly 250 million VND. Sections located on both sides of the bridge in these areas are set at over 175 million VND.

High compensation rates also apply to strategically located areas, primarily those with single or double street frontages. For instance, position 1 land with two frontages on Ngo Tat To and Phu My streets is valued at over 172 million VND. Properties with one street frontage and one alley frontage on Vo Oanh or Pham Viet Chanh streets are both rated at over 168 million VND. Additionally, land with street frontage on Vo Oanh and Pham Viet Chanh streets is priced above 160 million VND.

Compensation rates progressively decrease as land is situated further from the main street frontage. For example, a square meter of Phu My street frontage land at position 1 is over 139 million VND, but at position 4, located 100 m or more from the frontage, the rate drops to nearly 58 million VND. Many other areas, including Ngo Tat To, Dien Bien Phu, Xo Viet Nghe Tinh, Vo Oanh, Nguyen Van Thuong, and Pham Viet Chanh, have rates ranging from 100-160 million VND per m2.

The Van Thanh canal, crucial for drainage and flood reduction, has suffered from severe pollution for over two decades. The comprehensive renovation project will involve dredging the waterway, constructing a rainwater drainage system, and installing domestic wastewater collection sewers. Infrastructure improvements include building a canal-side road 6-20 m wide, a new Phu An bridge 17 m wide, widening Ngo Tat To street to 25 m, and creating a parallel road connecting Dien Bien Phu. Furthermore, over 4 hectares of land along the canal will be transformed into Van Thanh Park and other public green spaces.

Canal route direction. *Graphic: Khanh Hoang*

The draft compensation plan is currently posted for 10 days at the Thanh My Tay ward People's Committee headquarters and in relevant neighborhoods to collect public feedback. This consultation phase is critical before the final compensation rates are determined. The project expects land handover in Q1 next year to allow for the commencement of construction.

Le Tuyet