HCMC faces significant challenges in implementing transit-oriented development (TOD), particularly as rising land prices and an uneven distribution of benefits create risks for the Government, investors, and local communities. Concerns over land speculation The National Assembly recently approved Resolution 188, introducing pilot mechanisms and policies to accelerate urban railway development in Hanoi and HCMC. Alongside the Capital Law and Resolution 98/2023/QH15, which grants HCMC special mechanisms for development, these measures lay a critical foundation for reshaping urban planning based on TOD principles. However, in the early stages of planning, concerns are growing over potential land price surges near metro lines due to speculation. This could complicate land clearance, increase costs, and limit the land available for TOD projects, leading to an imbalance in benefits among different social groups, experts noted at a workshop on TOD solutions co-hosted by the British Consulate-General in HCMC and the HCMC People’s Committee. “As soon as the planning is announced, land speculation emerges. Land clearance for road construction is already difficult, and developing commercial housing is even more challenging. Without addressing this issue, securing land resources will remain a major obstacle,” said Dr. Tran Du Lich, chairman of the Advisory Council for the Implementation of […]
To read more, please click here.
