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Golden Land To Come Up For Grabs

Ho Chi Minh City’s skyline is set to undergo some major changes

Real estate investors hungry for Ho Chi Minh City territory are poised to fight it out to swallow up 20 juicy development projects.

City authorities are now outlining criteria for bids on 20 land plots at prime locations, mostly in District 1 and Binh Thanh District, which are considered “golden lands”.

People’s Committee chairman Le Hoang Quan said criteria for District 2’s Van Thanh market and District 1’s Tran Hung Dao-Pham Ngu Lao-Nguyen Thai Hoc street triangle would be served up to investors within this month.

The experience gained from the first two plots will be used to improve the bidding process for additional projects, including District 1’s Nguyen Du-Dong Khoi-Ly Tu Trong-Hai Ba Trung area and the 427 hectare eco-tourism and residential area Thanh Da- Binh Quoi in Binh Thanh district. Bids for those projects will take place in September.
“Information about the bids will be published in the media to keep the selection process transparent,” Quan said.

Marc Townsend, managing directorof CB Richard Ellis Vietnam, said District 1 areas were dubbed “golden lands” due to their “crazy high” prices.

“The range of land prices in District 1 was between $8,000-$10,000 per square metre in 2006. Today, however, that price has doubled to between $16,000-$20,000,” Townsend said.
He added that the two factors directly affecting land prices were the areas’ retail prospects and the potential to build high rise buildings.
According to the municipal government, the city’s primary concern regarding the 20 areas on offer [see table on page 4] is how to decrease the density rate, while increasing green space and public areas.

“Greenery is one of the top priorities in planning and developing the city,” said DZA director Nguyen Trong Hoa.
Due to concerns over decreasing green space, city authorities recently rejected GS E&C’s plan for a 54-storey building to be built near September 23 Park.
When it comes to tall buildings in the city centre, the height recommended by the Department of Zoning and Architecture (DZA) for the Ben Thanh market area ranges from three to five storeys.

However, 16-storey structures or more can be built in less central areas. For instance, at the Ben Thanh triangle area, bordered by Pham Ngu Lao- Le Thi Hong Gam-Pho Duc Chinh, the DZA permits buildings as high as 55 storeys.
As many as 10 high-rise blocks have been proposed for the 22.5ha Ba Son complex, an area that stretches along the Saigon River.
“We recognise that Ho Chi Mink City is in a rush for development, but we do not want to destroy our city, especially considering the experiences of Thailand and other regional neighbours,” said Hoa.

According to the DZA, more than 62 buildings of 15 storeys or more have been completed or are expected to pop up over the next five years, vastly increasing the number of high-rises in the southern hub.

được đăng bởi kude.punny @ 21:37