The Ho Chi Minh City People’s Committee has issued a plan to implement Government Decree No. 91/2025/ND-CP, dated April 24, 2025, on determining land prices for BT projects in the Thu Thiem New Urban Area.
The three projects under review include: Investment in the construction of four main roads; the construction of the Thu Thiem 2 Bridge; and investment in technical infrastructure in the northern residential area, along with the completion of the north-south road axis.
As per the plan, the Ho Chi Minh City People’s Committee has assigned relevant departments and sectors to carry out six tasks to inspect the procedures and implementation process of the above-mentioned BT projects.
Ho Chi Minh City re-evaluating land prices for BT projects in Thu Thiem New Urban Area. Photo: Anh Phuong |
So far, three tasks have been completed, including inspecting the BT contracts (abbreviated and officially signed) for each project; determining the basis for investor selection; and reviewing and appraising the land fund used for investor payment at the time of contract signing and land handover.
In August 2025, the Ho Chi Minh City People’s Committee assigned the Department of Agriculture and Environment to take charge of determining the boundaries, area, and value of the land that has been allocated or leased to investors as payment.
In cases where the allocated land is insufficient for payment and additional land is required, the authorities must also clearly define the boundaries, area, and value of the supplementary land fund. If there are any changes in the land fund value after the re-evaluation, the Ho Chi Minh City People’s Committee will negotiate with the investors to sign a supplementary contract.
By September 2025, the Department of Finance will request the State Audit Office to audit the completion value of the BT projects, determine the area and value of the land used for investor payment, and identify the area and value of any surplus land, if applicable.
Once the above procedures are completed, the Ho Chi Minh City Tax Department will calculate and collect land use fees for the BT projects.
 Ba Son Bridge was put into use in April 2022. Photo: Anh Phuong
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All three BT projects under review by the Ho Chi Minh City People’s Committee are among the 20 projects subject to direct inspection by the Government Inspectorate, as recently announced.
The four main roads in the Thu Thiem New Urban Area have a total length of nearly 12 kilometers and are invested in by Dai Quang Minh Real Estate Investment Joint Stock Company, with a total investment of nearly VND 12,000 billion. The investor was paid with 106 hectares of land to develop the Sala Urban Area, of which 45 hectares are for residential and commercial purposes, and the remaining 61 hectares are for transportation infrastructure and utility projects.
The Thu Thiem 2 Bridge (now known as the Ba Son Bridge) is also invested in by Dai Quang Minh Real Estate Investment Joint Stock Company. With a length of nearly 1.5 kilometers, it connects District 1 (former) with the Thu Thiem New Urban Area. The initial total investment capital for this project was about VND 4,260 billion, later adjusted to VND 3,082 billion due to reduced contingency and interest expenses. To recoup the investment, Ho Chi Minh City provided 1.6 hectares of land in the Thu Thiem New Urban Area as payment.
The project for technical infrastructure investment in the northern residential area and the completion of the north-south road axis is undertaken by the CII-Khanh An Joint Venture, with a total investment of nearly VND 1,642 billion. Ho Chi Minh City compensated the investor with nine land lots in the Thu Thiem New Urban Area, totaling nearly 9.6 hectares.
Anh Phuong
– 18:14 21/08/2025
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