Binh Duong to Launch a Real Estate

Binh Duong to Launch a Real Estate "Mega Project" Worth Over 13,500 Billion VND Along Ho Chi Minh City Ring Road 4

Recently, the People's Committee of Binh Duong Province officially approved the investment policy for the Dong An Tay Urban Area project along Ring Road 4 in Ho Chi Minh City - Zone 1, Ben Cat City, with a total investment of over 13,500 billion VND. This project is expected to significantly boost the economic and social development of the area.

The People's Committee of Binh Duong Province has just issued Decision No. 2062/QĐ-UBND, approving the investment policy for the Dong An Tay Urban Area project located in An Tay Ward and Phu An Commune, Ben Cat City. The project is expected to use approximately 288.84 hectares of land, including about 280.44 hectares for construction and about 8.4 hectares for water surfaces. The projected population size is about 14,300 people, with a total of approximately 7,100 apartments/houses. The total investment for the project is estimated at 13,564 billion VND.

According to the construction investment law, the preliminary total project implementation cost is determined based on the total investment amount, excluding compensation, support, and resettlement costs of nearly 10,000 billion VND. The remaining amount will be used for compensation, support, and resettlement.

The Dong An Tay Urban Area project will include various types of housing such as townhouses, villas, adjacent resettlement housing, and adjacent social housing (for sale, rent, and rent-to-buy). Additionally, the project will integrate commercial service facilities, including office buildings, commercial centers, supermarkets, and restaurants.

The project will also construct educational facilities (kindergartens, primary schools, secondary schools, and high schools), healthcare facilities, technical infrastructure, and green and water systems. These facilities will contribute to the effective exploitation of the land fund, promoting the economic and social development of An Tay Ward, Phu An Commune, and Ben Cat City.

The People's Committee of Binh Duong Province stated that the project implementation period is 50 years, with the entire project construction to be completed within 12 years from the date of approval by the competent authorities for the selection of investors or investor approval. The selected investors will be responsible for developing phased investment plans or dividing the project into smaller parts, as outlined in the 1/500 scale detailed planning, to ensure investment efficiency, feasibility, and conformity with approved planning levels by the competent authorities.

To attract investors with sufficient capacity and experience, the People's Committee of Binh Duong Province issued Decision No. 2112/QĐ-UBND on July 18, 2024, approving preliminary requirements for the capacity and experience of investors registering to implement the Dong An Tay Urban Area project, including specific financial and similar project implementation experience requirements.

Previously, the People's Committee of Binh Duong Province had approved the urban development area along Ring Road 4 in Ho Chi Minh City - Zone 1, Ben Cat City, with a total investment of approximately 130,327.7 billion VND. The investment resources for urban development will come from the state budget, socialization funds, bonds, investor mobilization funds from urban development projects, and other legitimate sources.

According to the approved decision, 10 urban development projects will be invested from 2025 to 2040. Binh Duong will organize tenders to select investors according to regulations. The largest projects include: Dong An Dien Urban Area with an area of 298 hectares and an investment of approximately 17,880 billion VND; Tay Phu An Urban Area project with an area of 289.4 hectares and an investment of approximately 13,167.7 billion VND; Dong An Tay Urban Area project and An Tay Riverside Urban Area project, each with an area of 289 hectares and an investment of over 13,000 billion VND per project.

The mega urban development project along Ring Road 4 in Ho Chi Minh City by Binh Duong promises to bring significant economic and social benefits to the region. With the implementation of these projects, Binh Duong will further solidify its position in attracting foreign investment and promoting sustainable development. Through modern infrastructure and strong policy support, the future of Binh Duong is opening up with bright prospects.