The Ben Thanh ward Compensation, Support, and Resettlement Council is currently gathering public feedback on the draft compensation plan for the expropriation of approximately 4,350 m2 of land to renovate the Cho Ga - Gao market area.

This urban renovation project impacts 238 households and individuals, 10 cases of state-owned rental properties, and one organization. It is anticipated that 249 cases will qualify for resettlement arrangements, ensuring affected residents receive appropriate housing solutions.

According to the draft, land at position 1 on Yersin street, which has at least one side directly fronting the road, is valued at over 609 million VND per m2, making it the highest compensation rate in the project area. This rate significantly surpasses the general city land price table.

Along the same street, land at position 3, adjacent to an alley 3 m to under 5 m wide and less than 100 m from the inner edge of the sidewalk, is priced at over 237 million VND per m2. Land at position 4, located within an alley less than 3 m wide, is valued at over 190 million VND per m2. For commercial and service land on Yersin street, the expected compensation is nearly 427 million VND per m2 at position 1, over 166 million VND at position 3, and over 133 million VND at position 4.

Compensation rates for other key streets in the project area also reflect these elevated valuations. On Nguyen Thai Hoc street, land at position 1 is expected to receive nearly 422 million VND per m2 in compensation, while position 4 will receive over 190 million VND. The corresponding rates on Vo Van Kiet street are over 389 million VND and over 147 million VND for positions 1 and 4, respectively.

The Cho Ga - Gao market area is strategically located in central Ho Chi Minh City (TP HCM). *Dinh Van*

The projected compensation rates are significantly higher than the land price table issued under Resolution 87 of the Ho Chi Minh City People's Council. For example, residential land at position 1 on Yersin street is listed at over 297 million VND per m2 in the official price table, which is about half of the over 609 million VND proposed in the compensation plan. Similarly, land at position 3 on Yersin street is priced at nearly 119 million VND per m2 according to the price table, whereas the expected compensation is over 237 million VND. On Nguyen Thai Hoc street, land at position 1 in the price table is over 206 million VND, lower than the nearly 422 million VND in the compensation plan.

This discrepancy arises because the general land price table and the specific land prices for compensation are determined by two different mechanisms. Under Resolution 87, position 1 refers to land fronting a road; position 2 is adjacent to an alley 5 m or wider; position 3 is within an alley 3 m to under 5 m wide; and position 4 covers all remaining cases. In addition to land compensation, affected individuals are also entitled to support and resettlement policies as stipulated by regulations, providing a comprehensive package for relocation.

Location of Ma Lang area and Cho Ga - Gao market. *Tam Thao*

The Cho Ga - Gao market area, approximately 4,350 m2, is situated between Nguyen Thai Hoc, Vo Van Kiet, and Yersin streets, in the former Ben Thanh ward, District 1. This market, established before 1975, is currently dilapidated. Renovation plans for this strategic location have been in place for many years but have not yet been implemented, making the current compensation proposal a crucial step forward.

According to the master plan, over 3,600 m2 of the project site is allocated for residential housing, designed to accommodate a maximum population of 1,027 people. A key feature of the project is a 35-story mixed-use apartment building at the Yersin - Vo Van Kiet intersection. This prominent structure will comprise a 5-story podium and a 30-story tower, reaching a total height of 135 m.

The project is being carried out by Khang Dien House Trading and Investment Joint Stock Company under a build-transfer (BT) contract, with groundbreaking anticipated around National Day, 2/9.

Le Tuyet