Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) has submitted a proposal to the Ho Chi Minh City People’s Committee for a Transit-Oriented Development (TOD) project at Hang Xanh Intersection. This critical traffic hub frequently suffers from congestion and flooding.
CII proposes a Public-Private Partnership (PPP) model, specifically a Build-Transfer (BT) contract, to develop infrastructure and urban renewal at Hang Xanh Intersection.
Following the Chairman of Ho Chi Minh City People’s Committee’s conclusion in December 2024, CII collaborated with Arup Vietnam to design a TOD concept for the area.
The preliminary investment for the project is approximately VND 486.6 trillion (USD 18.5 billion). This includes nearly VND 190 trillion for multi-layered transportation infrastructure and land clearance.
The project aims for sustainable urban development, prioritizing public transport and optimizing land use. It’s expected to create 7.3 million square meters of floor space, including apartments and offices, forming a transit-connected urban center.
Upon approval from the Ho Chi Minh City People’s Committee, CII will work with consultants and relevant agencies to finalize detailed studies in compliance with legal regulations.
Notably, the Hang Xanh TOD project, initially introduced in early 2025 with a preliminary investment of VND 216 trillion, has seen its capital scale increase by 2.25 times.
Ho Chi Minh City leaders urged CII to utilize its own capital and implement market-based compensation for land clearance, livelihood support for affected residents, and on-site resettlement.
At the 2025 Annual General Meeting, CEO Le Quoc Binh stated the project will impact over 4,000 households. He emphasized Hang Xanh TOD’s potential as a fully integrated urban center.
CII chose Arup as its consultant due to their successful TOD projects in Guangzhou, Shanghai, and Hong Kong, cities with high population density and infrastructure challenges similar to Ho Chi Minh City.
CII’s leadership pledged to improve residents’ quality of life. Regarding resettlement, Mr. Binh promised “repositioning” and attractive compensation to ensure residents’ benefits.
Recently, CII established a subsidiary, CII PPP, to enhance its bidding capabilities for the project. CII PPP, with a registered capital of VND 500 million, will focus on road construction.
In 2025, CII and CII Service were selected as investors for the Ho Chi Minh City – Trung Luong – My Thuan Expressway expansion project, valued at over VND 36 trillion. CII holds a 55% stake in this project and has temporarily suspended cash dividends in 2026 to focus resources on its initial phase.
Following the merger, Ho Chi Minh City became the most populous city in Vietnam with approximately 14 million residents, comparable to the Bangkok metropolitan area and more than double Singapore’s population.
The new Ho Chi Minh City was formed by merging Ba Ria – Vung Tau and Binh Duong provinces into the existing Ho Chi Minh City, retaining its name. Its area expanded from 2,095 km² to 6,772 km².
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