The management board for the Thu Thiem New urban area will provide VND20 trillion in compensation to resettle residents living in the area, it was recently announced. The board has already spent more than VND9.25 trillion.
Thu Thiem new township model.
The board reported the result to the Economic and Budget Board of HCM City’s People’s Council, which has been studying the rate of the project’s progress.
Since 2002, compensation for an equivalent to 426.46 hectares, out of 660.67 hectares, has been awarded.
A representative of the board admitted that during the process of the Thu Thiem New Urban Area project, building of resettlement areas was behind schedule.
Among three resettlement projects, only 17.3 hectares in An Phu, Binh Chanh District are under construction, with the other two still in the design phase.
The price of a resettlement house will be reported to the city’s People’s Committee on today July 23.
Residents need to know the price of resettlement houses in order to decide to buy or receive compensation money instead, said Nguyen Minh Hoang, a representative of the HCMC People’s Council.
Mr. Hoang said the chairman of District 2 People’s Committee needs to decide the price of resettlement houses to quickly resolve the situation.
According to Nguyen Cu, deputy chairman of District 2 People’s Committee, the district will complete compensation documents for residents by the end of the year.
Thu Thiem new urban area is located in the Thu Thiem peninsula, opposite District 1 across the Saigon River, including An Khanh, Thu Thiem, An Loi Dong, Binh An and Binh Khanh wards of District 2.
The urban area covers an area of seven square kilometers and consists of several sections: residence, pools, parks and office sections.
Almost all buildings will be ten to 40-stories high.
Once completed, this new urban area will replace District 1 as the city's center. This new urban area will be connected with the existing downtown with several bridges and a 6-lane tunnel, which are under construction.