Sunday,  Oct 21, 2018,00:32 (GMT+7) 0 0
New urban projects to affect 50,000 houses in HCMC
By Van Nam
Wednesday,  Jun 13, 2018,14:22 (GMT+7)

New urban projects to affect 50,000 houses in HCMC

By Van Nam

Ramshackle houses encroach on the canal. Some 50,000 households will be affected by urban projects over the next three years - PHOTO: VAN NAM

HCMC – New urban development and embellishment projects slated for launch in the 2018-2020 period in HCMC will affect some 50,000 houses, according to a report from the HCMC Department of Construction.

Over the next three years, 526 projects on urban renovation will be deployed, and site clearance will affect 1,600 houses in District 2, some 2,500 houses in District 4, 1,700 others in District 6, some 1,900 houses in District 7 and 15,000 others in District 8.

Among the 50,000 affected households, 32,700 households have asked for resettlement. District 8, an area crisscrossed with canals, is home to many houses encroaching on canals, so resettlement is considered necessary.

The department noted that the city will prioritize building some 20,000 budget houses to serve the affected households. Half of the budget for low-cost homes will be paid to some households in compensation, though it is not sufficient to buy a house on the current market.

Although many investors are looking to build an additional 13,000 commercial houses, the projected low-cost and commercial houses will still fail to meet residents’ demand.

The municipal authority has called on private enterprises to join projects involving the upgrade and relocation of an estimated 20,000 houses encroaching on canals to reduce pressure on the city’s limited budget, offering an estimated VND50 trillion compensation payment for site clearance, the department noted.

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