HCMC – HCMC authorities are carrying out procedures to select a strategic investor for the Binh Quoi–Thanh Da New Urban Area, a VND98-trillion project spanning more than 420 hectares, reported local media.
The HCMC People’s Committee submitted the update to the city’s People’s Council as part of the investor selection process in Binh Quoi Ward.
During the period for receiving investment proposals, only one consortium registered to participate, according to the People’s Committee. The consortium includes Sun Group, Sun Ha Long Co. Ltd., and Sun City Co. Ltd.
The project was previously included in a list of land plots subject to competitive bidding under the city People’s Council’s Resolution 452, with an area of about 406 hectares.
Following the National Assembly’s issuance of Resolution 260, which amends Resolution 98, the project was classified as a strategic project. This designation allows authorities to apply a mechanism to select a strategic investor without conducting a formal tender.
The People’s Committee said the project’s study area covers about 423 hectares, consistent with approved planning and located in a key urban development zone.
On February 4, the Standing Committee of the HCMC Party Committee agreed to designate the Binh Quoi–Thanh Da New Urban Area as a strategic project and approved the application of the special investor selection mechanism.
On February 6, the city’s People’s Council passed a resolution approving the selection of an investor for the project. Under the approved framework, the People’s Committee will approve the investment policy and designate the investor.
The project is located on the Binh Quoi–Thanh Da Peninsula, more than six kilometers from downtown HCMC, and is surrounded by the Saigon River.
Planning documents show the area is intended to develop as an ecological urban zone with floodable parks, housing, commercial, service, and tourism functions, with a planned population of about 54,000.
