During the 4th session of the Ho Chi Minh City People's Council on the morning of 27/8, the city People's Committee submitted a proposal for two land plots intended to compensate the investor of the project to resolve tidal flooding in Ho Chi Minh City, which also addresses climate change factors (phase 1) under a build-transfer (BT) contract.

The Muong Chuoi tidal barrier, part of the project. *Photo: Thanh Tung*

These two land plots, totaling approximately 3.23 hectares, are situated in prime locations: 79B Ly Thuong Kiet, Tan Hoa ward, and 257 Tran Hung Dao, Cau Ong Lanh ward. They are designated to replace a 4.2-hectare plot in Phuoc Long ward and the plot at 299 Dao Tri, Phu Thuan ward, which were previously considered for payment but found ineligible.

Specifically, the 79B Ly Thuong Kiet land plot, nearly 3 hectares, is in the central area of the former Tan Binh district. Its master plan designates it for mixed-use development, encompassing residential, commercial services, and green spaces. A 1/500 detailed plan for this site outlines high-rise apartment buildings integrated with commercial facilities, services, and a park.

Meanwhile, the 257 Tran Hung Dao land plot, covering over 2,300 square meters, is in the former district 1. A portion of this site is zoned for mixed-use, while the rest is designated for existing residential improvements and transportation infrastructure. The city recently reclaimed this plot from the Ho Chi Minh City Sports Training and Competition Center, subsequently transferring its management to the City Land Fund Development Center.

Both land plots have been reclaimed by the state and are now managed by the Land Fund Development Center. They meet the criteria for use as payment under the BT contract, as stipulated by regulations.

The project to resolve tidal flooding in Ho Chi Minh City, which considers climate change factors, began construction in 2016. Operating under a BT model, it has a total investment of nearly 10 trillion VND, with Trung Nam Group serving as the investor.

Under the previously agreed plan, Ho Chi Minh City compensates the investor with land funds as part of the BT contract. In March this year, three land plots – 232 Do Xuan Hop, Phuoc Long ward; 762 Binh Quoi, Binh Quoi ward; and block C8A, Area A, Tan My ward – were transferred to the enterprise. The estimated total value of these three plots is approximately 2.5 trillion VND. The two plots that no longer met the conditions are to be replaced by other suitable land.

This 10 trillion VND project is a crucial anti-flooding initiative, designed to control tidal inundation in the central and Saigon River-adjacent areas. It is currently about 94% complete. The investor is finalizing the remaining components with the aim of making the entire project operational this year.

Le Tuyet