[Saigon] | Thu Thiem new urban area

[lovesaigon]

Progress of new HCMC urban area could be faster, developer



Ensuring attractive investment policies could shorten the time to develop the new Thu Thiem urban area in Ho Chi Minh City’s district 2 by more than half, said one of its developers.

At a June 6 conference, “Investment and development into the Thu Thiem urban area,” developers involved in transforming the rural peninsula into a new urban area predicted it would take about 20 years to complete all projects for the area.

Just seven years



But according to Au Lac Company Chairman Dao Hong Tuyen, the time could be reduced to seven years if suitable policies are applied to protect and benefit investors.

These policies will help mobilize funds not only from locals, but also overseas investors, he said.

“But, appropriate sanctions must also be applied to control investment and ensure construction projects are completed on time,” added Mr. Tuyen.

The total investment needed to develop the new urban area is estimated at more than 600 million USD.

The chairman has already reaped huge success with developing the Tuan Chau island tourism resort in northern Ha Long Bay.

For the resort, Mr. Tuyen said he was able to mobilize 2 billion USD of domestic investment; hire 39 foreign engineers, 7,000 workers and 150 transporters; and issue suitable sanctions to guarantee construction finished in three years.

Quick land clearance



Other developers at the conference also agreed the urban area could speed up its progress if land sites were cleared efficiently and quickly.

Besides attractive investment policies, the problem of clearing homes and resettling families has to be resolved, said a representative of Malaysian consultant companies.

Some participants suggested giving resettled families better living quarters as well as opening more training centers for settlers.

“What’s most important is that we have cleared sites which can be handed over to the contractor on time, said Dr. Tran Du Lich, director of HCMC Economics Institute.

To cement inhabitant’s interests over the development of Thu Thiem, we must give resettled families priority to live in the new urban area, added Nguyen Van Chau, director of the Investment Consultancy for Development and Construction Corporation.

New urban center





Developing the 700-hectare Thu Thiem peninsula into a new urban area has been a major focus for city urban planners for the last 10 years.

Infrastructures around the peninsula have already been set in motion including the East - West Highway, which will link HCMC’s district 1 to district 2, said the highway’s developer, U.S. Sasaki Associates.

Another road with five bridges and a tunnel linking the city center and Thu Thiem peninsula will also be built.

The new urban area will also have international financial and commercial centers, a central square, an outdoor stadium, a new television tower and residential area.

The conference was organized by the Economic Institute of HCMC and Investment & Construction Authority for Thu Thiem urban area.

Source: http://thanhniennews.com/features/?catid=10&newsid=7280
Thu Thiem website: http://www.thuthiem.com.vn

References:
- Research Outline of Investment and Development Plan of Thu Thiem New Urban Area
- Summary of the 1:2000 Scale Master Plan for Thu Thiem New Urban Area
- Products of the 1:2000 Master Plan

[versalvin]

20 years are definately too long. Even with this size of this urban project...Vietnam is capable of completing the job in no more than 15 years the latest or withing 10 year-period...which is reasonable.

[lovesaigon]

By KINH LUAN


Vu Hung Viet (3rd from R) shakes hand with leaders of CDL after the meeting

(SGT-HCMC) City Developments Limited (CDL), one of the biggest real estate companies in Singapore, had a working session with authorities here yesterday to look for an opportunity to invest in the newly-urbanized area of Thu Thiem. CDL is a member of The Hong Leong Group.

At a meeting with Vu Hung Viet, head of the Investment & Construction Authority for Thu Thiem Urbanized Area, CDL leaders said they wanted to develop several building projects in Thu Thiem, including a skyscraper.

Group General Manager Chia Ngiang Hong said his group wanted to build the skyscraper similar to The Sail @ Marina Bay building in Singapore.

This building is “one of the world’s ten tallest residences , and we are very proud about it,” echoed Head of Business Development Sim Boon Hwee.

A member of the CDL delegation said the group also owns the City Square Residences, which is considered “A City Within A City” with over 700,000 square feet of shops, restaurants, hypermarket and Cineplex.

[coolink]

no

[two3toes]

The soon to be world's tallest residential building (not solely residential) is the Donald Trump Tower under construction in chicago. The 92-story tower is 1,360 feet high. The tenth tallest residential building maybe 50-60 floors. What do you guys think?

[vkameleon]

Any update?

[choyak]

I think that the tallest residential tower is 21st century tower in dubai and then tower palace 3 in seoul

[another_viet]

anything else guys?

[another_viet]

is there any progress yet?!! im soo anxious. it seems to be taking forever theyre suppose to have first phase built by 2010

[LacHong]

I believe that they are constructing the 1st phase at this time, mostly infrastrural work such Dai Lo Dong Tay, Cau Thu Them, Duong Ham Thu Thiem.

[Trân]

I am just back from SGN where I heard a rumor saying this urban project is to be cancelled because of the overcost related to underground consolidation works.

[two3toes]

I hope it is just a rumor.

[lovesaigon]

Originally Posted by Trân

I am just back from SGN where I heard a rumor saying this urban project is to be cancelled because of the overcost related to underground consolidation works.

hey, I can sure that this isn't true. Because of many informations I've got. Don't believe that. Ok?

[LacHong]

How can it be? ten of thousand households in district 2 which is Thu Them have been relocated, East West High Way is underconstruction, bridge cross the Saigon river is being build, this must be a joke then. This project will determine Saigon's survival as the city's social economic expands. It is so cool to watch some of the video clip of Saigon and Phu My Hung Project, follow the link: http://www.phumyhung.com.vn/index.php

[Trân]

It is posible that the whole project could not be carried out because of these technical difficulties , the officials may introduce new plans as well ... Concerning relocated households, everyone know that it wouldn't be the first time that households are chased away to make room for either "official" and public interest .

[Pho-sure]

Saigon city was built on a massive swamp with various canals rivers. Over time those waterways has been filled in and buildings mushroomed. I've been told that the foundation of the city is quite weak and would shrink over time if the weight pressure is just too much. It will be very costly just to solidify the ground foundations.

[another_viet]

damit!!!! omfg. isnt the sasaki company american? i think they would do a gud job (i am praying they do) omfg they cant cancel it! they project will be extrordinary! buhu

[two3toes]

A few projects directly or indirectly involve with the TT development are inprogress. They wouldn't cancel it.

[Pho-sure]

Let's hope so. Would be cool to have a brand-spanking new commercial and residential district solely committed to modern working and living.

[coolink]

no