Twenty real estate developers want to rebuild old apartment buildings in HCMC

Over 20 real estate companies have proposed to attend in a program to rebuild old apartment blocks in HCMC especially those in District 1 and 3, reported the city Department of Construction.

Co Giang apartment block has seriously downgraded in District 1, HCMC (Photo: SGGP)

At present, the city has a total of 474 old apartment blocks comprising 565 buildings with 26,362 apartments built before 1975.

Of them, CT Group has registered to reconstruct 90 buildings in District 1. In addition, Pacific Investment Joint Stock Company, Hoang Son Company and the joint venture of Tan Tuan Industrial Development, Tuan Loc Construction and Phu My Hung Development Companies have asked to join in the program.

In related news, the HCMC People’s Committee has issued a plan to implement the city Party Committee’s action program on urban planning and development in the phase of 2016-2020.

According to the plan, the city will remove all canal houses, rebuild downgraded apartment blocks, upgrade exiting residential areas and develop new urban areas synchronously and modernly.

By Hanh Nhung – Translated by Hai Mien

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