HCMC – The People’s Council of Ho Chi Minh City on April 18 approved a list of 33 land plots to be used to pay for investors involved in build-transfer (BT) projects in the city, including several prime sites in inner-city areas.
The list features high-value locations such as 8-12 Le Duan Boulevard and 2-4 Hai Ba Trung Street in the downtown area, as the city looks to unlock resources for key infrastructure projects.
The move comes as HCMC needs capital for multiple BT projects worth a combined VND366 trillion. Proposed projects include Metro Line 2’s Ben Thanh–Thu Thiem and Thu Thiem–Long Thanh sections, the Can Gio–Vung Tau bridge, the Ho Tram–Long Thanh International Airport Expressway, and large-scale wastewater treatment plants.
With capital needs concentrated over a short period and limited budget capacity, the city is looking to mobilize private-sector funding to address urban challenges such as pollution, flooding, and traffic congestion.
Of the 33 land plots, 17 are managed by the city’s Land Development Center, while the remainder are held by local authorities. Notable sites include 152 Tran Phu Street in former District 5, 200 Vo Van Tan Street in former District 3, a former water park site in former Thu Duc City, and 420 No Trang Long Street in former Binh Thanh District.
These sites were selected based on their commercial value and development potential to ensure equivalent-value payments and minimize additional fiscal obligations.
At the same session, the council approved shifting the Ho Chi Minh City Children’s Palace project, with total investment of nearly VND1.125 trillion, to a BT model without payment. Bcons Construction Investment JSC will fully fund the project under a turnkey arrangement.
Following the relocation of the project to a site adjacent to the new administrative center, the original land will be converted into a public park and square.
Regarding nearly VND345 billion already disbursed, the city’s civil and industrial construction project management board has proposed that the investor of the central square and administrative center project reimburse the amount to the city budget under a public-private partnership (PPP).
