HCMC – The government of HCMC has approved land valuations totaling over VND52 trillion for nine real estate projects, including VND27.3 trillion for Vingroup’s Can Gio land reclamation project.
The HCMC People’s Committee issued Decision No. 3429, approving the land valuation for a coastal urban development project in Long Hoa Commune and Can Thanh Town, formerly part of Can Gio District.
The Vinhomes Green Paradise Can Gio project is invested by Can Gio Tourism Urban Development JSC, a subsidiary of Vingroup, with the approved land value of more than VND27.3 trillion.
The approved land valuation serves as the basis for Can Gio Tourism Urban Development JSC to fulfill its financial obligations to the state and provides the legal foundation for proceeding with the project’s next steps.
The Thu Thiem Eco Smart Complex (Lotte Eco Smart City) by South Korea’s Lotte Group has been approved with a land valuation of VND16.19 trillion.
Besides the two major projects mentioned above, HCMC has also approved land valuations for seven other projects, with a combined land value of over VND8.5 trillion.
HCMC (prior to its administrative merger) collected an estimated VND65.3 trillion in land-related budget revenue in the first half of 2025. This includes over VND12.72 trillion collected from land use fees, land and water surface leases, and real estate transfers, excluding the nine major approved projects.
As of now, the city has achieved 90.72% of its 2025 land revenue target of VND72 trillion.
