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Saturday, July 13, 2024

HCMC calls off major commercial complex project

The Saigon Times

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HCMC – The HCMC government has announced its decision to cancel a commercial complex project which has been put on hold for 16 straight years.

The HCMC departments of Investment-Planning and Justice have been tasked with preparing paperwork for the cancellation of the project invested by the Bitexco Group of Companies.

The project is located in a quadrangle known as Ma Lang surrounded by Nguyen Trai, Cong Quynh, Nguyen Cu Trinh and Tran Dinh Xu streets in District 1.

Before 1975, the location was a graveyard. The municipal government later replanned the site, and many people came to settle down there. It has over 530 houses smaller than 20 square meters each and they have deteriorated.

In 2007, the city approved the Bitexco Group to clear the site and build a complex of hotels, office buildings and commercial centers.

There are over 1,400 houses that need to be cleared. The site clearance and resettlement work was planned to start in June 2018 but was delayed until now.

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