An aerial view of Binh Quoi - Thanh Da peninsula, HCMC. (Photo: cafef)
The municipal Department of Planning and Investment is in the process of preparing draft regulations for the tender and will then submit them to the city’s government for approval.
To select financially capable participants, the city will issue some requirements, including placing deposits or pledging a certain amount of money to ensure the project will be executed as planned.
Specifically, the city’s Department of Planning and Investment has received applications of 10 enterprises including: FED Vietnam International Investment JSC; Roytrade Company Limited; Petro Southeast Asia Trading Co., Ltd; Joint venture of Thuan Tuan Trading & Investment JSC and Golden Wealth Golbal Pty. Ltd; Joint venture of Golden Star Investment JCS and Capital Land Company Limited; JSC for Traffic Congestion and Environment Handling; Sunshine Group JSC; Gia Bao Planning - Architecture JSC; Tan Hoang Minh Hotel Service and Trading Company Limited; Joint venture of Vietnam AGR.3000 JSC, Gaudha Putih (Thailand) and Thai Thanh Van Group JSC. Only Tan Hoang Minh Group proposed setting up a planning for the Binh Quoi - Thanh Da urban area project.
Currently, HCMC People's Committee is assigning the Department of Planning and Investment to draft and finalize the draft regulations on project bidding, and submit to competent authorities for consideration and approval. The city government will revise it to match the current situation, creating favorable conditions for residents outside the approved boundaries of the project.
Approved in 1992, the Binh Quoi-Thanh Da project was assigned to Saigon Construction Corporation in 2004, but the firm failed to develop it. Then the city government decided to withdraw the project in 2010.
After that, another domestic firm was tasked with adjusting the scale 1:2000 plan of the project, covering some 427 hectares of land, or almost the entire area of Binh Thanh District’s Ward 28.
In late 2015, a joint venture of Bitexco and Dubai-based property developer Emaar Properties PJSC was chosen to develop the project with a total investment of more than VND30 trillion. The foreign partner, however, withdrew in June 2017, after a long wait for the transfer of the land site.
The 426-hectare Binh Quoi-Thanh Da ecological urban area is expected to be home to 41,000-50,000 people. Some bridges have been planned to link Thanh Da Peninsula with the neighboring districts.
A joint venture between Bitexco and Emaar Properties PJSC, a property developer from Dubai, was awarded the project. But Emaar Properties PJSC pulled out of the project in October 2016.
