Real Estate

Trungnam Group Seeks Acquisition of 9 Land Plots as Payment for 10-Trillion-VND Anti-Flooding BT Project Contract

Recently, Trungnam Group (Trung Nam Construction Investment Joint Stock Company) submitted an official document to the leadership of Ho Chi Minh City regarding the land fund allocated for payment under the BT contract for the project "Addressing Tidal Flooding in Ho Chi Minh City Considering Climate Change Factors – Phase 1."

Administrator

22 October, 2025

Trungnam Group’s Phase 1 Project to Address Tidal Flooding in Ho Chi Minh City, Considering Climate Change Factors

According to a document dated October 16, 2025, Trungnam Group announced its commitment to resolving challenges and obstacles in the project, as outlined in Resolution 212/NQ-CP issued by the Government on July 21, 2025. The resolution stipulates that payment to the investor will be made through land funds. Based on the list of land plots identified in the BT contract signed in May 2016 and additional land plots proposed by the Department of Agriculture and Environment on September 16, 2025, the investor has submitted a proposed list of land funds to be included in the BT contract appendix.

The five land plots retained from the original BT contract include: C8A area, A area, South City Urban Area in Tan My Ward (5,500m²); 232 Do Xuan Hop Street, Phuoc Long Ward (17,575.5m²); 762 Binh Quoi Street, Binh Quoi Ward (4,298m²); Phuoc Long B Ward, District 9 (Nuclear Center, 4.2ha); and 290 Dao Tri Street, Phu Thuan Ward, District 7 (3.3ha).

Additionally, Trungnam Group proposed four supplementary land plots: two plots approved by the HCMC People’s Committee in August 2021—Nha Be Residential and Resettlement Area (20.2ha) and Nhon Duc – Phuoc Loc Urban Area in Hiep Phuoc and Nha Be Communes (89.6ha); 420 No Trang Long Street (now Vu Ngoc Phan), Binh Loi Trung Ward (14.8ha); and 257 Tran Hung Dao Street, Cau Ong Lanh Ward (2,374m²).

The investor emphasized that the addition of these land plots is crucial for overcoming project delays and ensuring its completion and operation. Delays in processing these procedures, which are beyond the investor’s responsibility, would result in prolonged inefficiencies. With a commitment to operationalize the flood control project by December 2026, Trungnam Group urged the completion of land fund supplementation by October 2025.

In May 2016, the HCMC People’s Committee signed Contract 2607/2016/HĐ-UBND with Trungnam Group for a Build-Transfer (BT) project to combat flooding, with an investment of nearly VND 9,927 billion. The project began in 2015 and was initially scheduled for completion in 2018. In October 2019, the city approved adjustments to the project’s feasibility study, increasing the investment to VND 9,977 billion and extending the timeline to 2016-2020.

Under Contract 2607, the land fund for investor payment included seven plots. Their current status is as follows:

C8A Lot, A Area, South HCMC Urban Area, Tan Phu Ward, District 7 (5,500m²), currently vacant land managed by the Land Fund Development Center.

232 Do Xuan Hop Street, Phuoc Long A Ward, District 9 (17,573.5m²), partially used for a school and zoned for mixed-use development, managed by the Land Fund Development Center.

762 Binh Quoi Street, Ward 27, Binh Thanh District (3,555.2m²), vacant land managed by the Land Fund Development Center, with part already certified for residents.

Phuoc Long B Ward, District 9 (42,000m²), previously included in the BT payment list but revoked for another project by the HCMC Nuclear Center and Phuoc Nhan Company.

299 Dao Tri Street, Phu Thuan Ward, District 7 (3.3ha), assigned to Phu Thuan JSC for investment completion, no longer in the BT payment list.

118B Tran Dinh Xu Street, Nguyen Cu Trinh Ward, District 1 (445.4m²), including 261m² of vacant land and 189.5m² occupied by 4 households, removed from the payment list at the investor’s request.

1005 Thoai Ngoc Hau Street, Hoa Thanh Ward, Tan Phu District (980.9m²), payment approval revoked due to partial overlap with transportation land planning, unsuitable for commercial investment.

Of the seven plots, the HCMC People’s Committee excluded four from BT payment: Phuoc Long B, 299 Dao Tri, 118B Tran Dinh Xu, and 1005 Thoai Ngoc Hau. The remaining three—C8A South HCMC Urban Area, 232 Do Xuan Hop, and 762 Binh Quoi—were retained for payment.

The Nhon Duc – Phuoc Loc Urban Area (89.6ha) and Nha Be Residential and Resettlement Area (20.2ha) have not yet undergone compensation or land clearance, according to the Department of Agriculture and Environment, and the Land Fund Development Center has not been tasked with managing them.

420 No Trang Long Street (now Vu Ngoc Phan, 148.5m²) houses 19 households with 78 residents, former VISSAN employees who were allocated land for self-built housing without official construction permits.

257 Tran Hung Dao Street, Cau Ong Lanh Ward, managed by the Department of Culture and Sports, features a café and gym on the Tran Hung Dao and Nguyen Khac Nhu street fronts.

Thu Minh

– 14:15 22/10/2025