Ho Chi Minh City: Lack of funds prevents redevelopment of 50-year-old apartment complex

The Ngô Gia Tự apartment complex has been built for over 50 years and deteriorated, but until now it still cannot be rebuilt due to a lack of budget and a lack of investor interest.

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On February 29, the representative of the Department of Construction of Ho Chi Minh City provided information about the renovation of the Ngô Gia Tự apartment complex (Ward 2, District 10).

According to the Department of Construction of Ho Chi Minh City, the project to renovate the Ngô Gia Tự apartment complex has been included in the implementation plan of District 10 for many years. However, the project has not been implemented due to the limited budget of the city, so the policy is to invite investors to mobilize capital from businesses.

The Ngô Gia Tự apartment complex, District 10, has been built for over 50 years and has deteriorated over time. (Photo: Hữu Huy)

The government has come up with solutions to attract investors to participate through the mechanism of increasing planning targets, architecture and exempting land use fees. However, because the old apartment buildings are located in the inner city area, the increase in planning targets and architecture must be calculated on the basis of ensuring the technical infrastructure, social infrastructure, and existing population scale of the area.

Currently, the planning target for the Ngô Gia Tự apartment complex does not ensure the feasibility of the project, making it difficult to invite investors to participate,” the Department of Construction of Ho Chi Minh City said.

Recently, the Department of Construction, the Department of Planning and Architecture of Ho Chi Minh City, and the People’s Committee of District 10 have reached an agreement to propose to the People’s Committee of Ho Chi Minh City through the “starting tasks” the project of renovating the urban area, and investing in the construction of the new Ngô Gia Tự apartment complex. In which, the planning and architecture targets are adjusted to ensure the feasibility of the project and invite investors to participate. At the same time, this also ensures the best compensation policy for the people.

After the city’s People’s Committee approves the “starting tasks”, the information will be publicly announced for bidding and selecting the investor. According to the Department of Construction, the consensus of the people is the most important factor determining the success of the project.

Regarding this matter, the Chairman of the city’s People’s Committee has directed and the People’s Committee of District 10 has worked with residents to consolidate information and data on consensus and different opinions of residents such as resettlement plans, temporary residence to carry out mobilization work, persuade residents to agree with the authorities in carrying out the project.

The Ngô Gia Tự apartment complex currently has 17 old apartment buildings (with codes F, H, I, K, L, M, N, O, P, Q, R, S, T, U, V, X, Y) built before 1975 and 2 vacant lots (with codes A, G) have been cleared. The height of this apartment complex is 4 floors (including the ground floor and 3 upper floors).

The total land area is 24,619 m2, the total floor area is 98,478 m2, of which the residential floor area is 81,776 m2. The total number of apartments in the 17 blocks of the Ngô Gia Tự apartment complex is 2,152, with an approximate population scale of 9,211 people.

SOURCEcafef
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