Most of land for Thu Thiem project available

The District 2 People’s Committee in Ho Chi Minh City says it has so far spent over VND13.5 trillion on compensations for people affected by the Thu Thiem New Urban Area Project in the district.

The District 2 administration says about 92 percent of land designated for the project has been available.

Thu Thiem peninsula

Since the beginning of the year, the district settled compensations for over 55 hectares.

The district plans to accelerate resettlement and finish the compensation process as soon as possible.

The compensation time is expected to complete by the end of this year.

The Thu Thiem New Urban Area, opposite to commercial District 1 across the Saigon River, is envisioned becoming a modern city by 2020 with some high-profile constructions including an international convention and conference center, a 300-meter-high observatory tower, an entertainment and sport complex, a huge central square and an international financial center.

By H.Nh, translated by Thanh Huong

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