HCMC – The HCMC Department of Construction has estimated the total cost of relocating homes along rivers and canals as well as urban renovation, at around VND230.5 trillion.
During a January 2 meeting, the department presented a draft proposal outlining that VND139 trillion would be allocated for compensation and resettlement support, while VND11.4 trillion would go to building social housing and resettlement homes.
The redevelopment of land post-renovation is expected to generate approximately VND160 trillion.
The project will affect more than 46,000 homes across all 16 districts and Thu Duc City, spanning a total of 500 kilometers of rivers, canals, and streams. The city aims to complete the relocation and resettlement work between 2025 and 2030.
This initiative seeks to improve living conditions, reduce natural disaster risks, optimize land use, and boost socio-economic development. Additionally, re-planning areas along waterways will create modern urban spaces.
Vo Thanh Kha, chairman of the District 8 People’s Committee, highlighted the project’s tangible results so far, including the dredging of 36,580 meters of canals, the construction of 73,160 meters of embankments, and the development of over 508,235 square meters of road. The district has also invested in 102,731.8 square meters of parks, and developed 247,000 square meters of commercial and service land.
Phan Van Mai, chairman of the HCMC People’s Committee, underscored the importance of completing the project in time for the 100th anniversary of the Party’s founding. He urged relevant agencies to prioritize resources and assign clear responsibilities to ensure the project’s timely and effective execution.
The Department of Construction has been tasked with finalizing the framework proposal, while District 8 will pilot the project before its expansion to other districts.
