Investors interest in urban planning projects in District 8

Many investors have sent documents to the city People’s Committee proposing to invest in urban planning projects including canal house clearance and building of new apartments for dwellers in district 8, said deputy chairman of the committee Le Van Khoa recently.

Houses in Doi (Twin) Canal, District 8, HCMC (Photo: SGGP)

However, a breakthrough mechanism is needed for the city to permit the attendance of investors, he said. It will raise huge funds for implementation of the projects, limit spending from the city budget and mobilize social resources.

Land for infrastructure swap program and low interest loans definitely lure most of investors in the projects.

Reporting to secretary Dinh La Thang of the city Party Committee in a recent meeting, the People’s Committee of district 8 said that the district has over 12,389 low-roofed houses on and along 45 kilometers of canals stretching over 16 wards.

District 8 said that total compensation will reach VND13.7 trillion (US$614.31 million) for clearance of canal houses alone.

About 3,747 apartments are needed to be built for resettlement on the spot. At present, there are seven projects that will provide 6,100 apartments. However they are still on paper because construction has met with difficulties in capital.

By staff writers – Translated by Hai Mien

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