Billions of dollars from Japan expected to flow into Vietnam via M&A deals
hanguyen0409 26-11-2020, 13:01

By Viet Dung

Billions of dollars from Japan expected to flow into Vietnam via M&A deals
High-rise buildings mushroom in HCMC. HCMC will limit the construction of new high-rise apartment building projects in districts 1 and 3 in the city center until 2025 – PHOTO: LE ANH

HCMC – HCMC will limit the construction of new high-rise apartment building projects in districts 1 and 3 in the city center until 2025 to allow for the city to map out plans for the development of technical and social infrastructure, which have become overloaded, according to the municipal Department of Construction.

In its report on a project called “Building a program for housing development in HCMC in the 2021-2030 period” sent to the HCMC government, the department stated that technical infrastructure facilities in many parts of the city have yet to be upgraded, leading to an overloaded system.

Meanwhile, the number of houses built by residents is large, resulting in an increasing demand for the use of infrastructure. As such, the city will restrict the development of new housing projects in downtown HCMC and encourage firms to develop housing projects in sync with the technical and social infrastructure.

In the next five years, districts 4, 5, 6, 11 and Phu Nhuan, which have seen a declining population over the past 10 years, will limit new housing and high-rise apartment building projects until the technical and social infrastructure are developed.

Meanwhile, new housing and multistory condo projects will be prioritized in districts 2, 7, 9, 12, Thu Duc and Binh Tan, especially along public transport routes, such as the city’s first metro line.

As for five outlying districts—Cu Chi, Hoc Moc, Binh Chanh, Nha Be and Can Gio—the city will prioritize developing housing projects in towns, rural areas and residential areas connecting with major roads. In addition, tourist sites, resorts, new urban areas and satellite urban areas will be facilitated for development.

Many residents had earlier thrown their support behind the plan as it is expected to help the city ease traffic jams and address the floods mainly caused by overloaded infrastructure.

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