Unveiling Dormant Housing Projects on Prime Land in Ho Chi Minh City for Years

The northern industrial hub of Ho Chi Minh City (HCMC) has granted numerous real estate developers permission to construct housing projects, addressing the housing needs of residents, workers, and professionals. While many projects are underway, some, despite receiving permits decades ago, remain stagnant.

On November 25th, Tien Phong newspaper reported on the Dai Nam Residential Area project, located in the prime “golden land” of the new Binh Duong City center (Binh Duong Ward, HCMC). Despite having completed significant infrastructure development, including internal roads, sidewalks, greenery, and electricity, the project has been abandoned for years.

Surrounded by corrugated iron sheets and hundreds of containers, the Dai Nam Residential Area project lies dormant. Inside, the invested infrastructure has deteriorated, with overgrown weeds and signs of neglect.

Approved in 2017 with a detailed 1/500 scale plan, the Dai Nam Residential Area project was expected to provide housing for thousands of workers. However, due to its prime location, only high-income individuals can afford properties here.

Spanning 105.8 hectares, the project is developed by Dai Nam Joint Stock Company with a total investment of over 2.3 trillion VND. The land was originally part of the Song Than III Industrial Zone, which was reduced from 543 hectares to 427 hectares, with the remaining 107 hectares allocated for the Dai Nam Residential Area project.

According to reports, the project’s technical infrastructure, including internal roads, sidewalks, greenery, and electricity, was completed in 2021. However, the land has since been left unused, leading to deterioration.

Strategically located near the former Binh Duong Provincial Administrative Center and major industrial zones like Dai Dang and Kim Huy, the project is accessible via key roads such as Vo Van Kiet, Nguyen Van Linh, and Dien Bien Phu.

The HCMC Department of Construction confirmed that the Dai Nam Residential Area project has completed all legal procedures for each phase. As a residential project, the developer must construct houses before conducting property transactions.

Another abandoned “golden land” project is the Suoi Giua Residential Area, approved by the former Binh Duong Provincial People’s Committee in March 2008 and detailed planning approved by the former Thu Dau Mot City People’s Committee in February 2010.

In August 2015, the former Thu Dau Mot City People’s Committee adjusted the detailed 1/500 scale plan to cover over 30.6 hectares. In April 2020, the former Binh Duong Provincial People’s Committee allocated the first phase of land, approximately 10 hectares.

Despite incomplete legal procedures, the developer sold “reservation and investment cooperation contracts” to numerous customers in 2017 and 2018. To date, customers have paid but received no land, and the project remains an empty plot.

Due to prolonged delays, the project has faced numerous complaints, with residents frequently gathering at the site to demand their rights. In mid-2025, the Chanh Hiep Ward People’s Committee (HCMC) announced the revocation of the Suoi Giua Residential Area project’s investment approval.

The Chanh Hiep Ward People’s Committee stated that they invited the developer and customers to discuss resolution options following the project’s revocation.

During the meeting, Asia Commercial Investment Joint Stock Company, the developer, proposed two solutions: refunding 30% of customers’ contributions with bank interest, or allowing customers to retain 30% of the land value at the time of cooperation, with the remaining 70% calculated based on new prices, including state land taxes and current investment costs. This second option ensures customer rights through approval by relevant authorities.

According to the Chanh Hiep Ward People’s Committee, residents chose the second option. The developer is now seeking re-approval to continue the project with adjusted boundaries and a reduced scale. Initially planned for 30.6 hectares, the developer has only compensated for 25.4 hectares and intends to proceed with this area.

One of the most notable projects following the merger of Binh Duong into HCMC is the Dong Binh Duong Commercial and Service Residential Area in Tan Binh Ward, Di An City, former Binh Duong Province, now Tan Dong Hiep Ward, HCMC.

Approved in 2003, the project remains an empty plot to this day.

Covering 126 hectares, the Dong Binh Duong Commercial and Service Residential Area is developed by HCMC Foreign Trade and Investment Development Joint Stock Company. Dong Binh Duong Urban Development LLC was established to execute the project.

Since 2003, the project has received land allocation approval and planning approval. Located on Nguyen Thi Minh Khai Street, the project was granted a 24-month extension by the former Binh Duong Provincial People’s Committee (from October 25, 2019, to October 25, 2021).

In January 2020, the former Binh Duong Provincial Construction Inspectorate fined the developer 40 million VND for constructing without a permit. By September 2020, the fine increased to 50 million VND due to repeated violations.

Since the fines, the project has remained inactive. Due to prolonged delays, the project now faces new regulations, requiring the developer to complete additional procedures.

The HCMC Department of Construction noted that the former Binh Duong Provincial People’s Committee approved adjustments to the investment plan in Decision No. 3576/QD-UBND dated December 28, 2023, including revised implementation timelines and phased investments. The developer is currently submitting the project’s feasibility study to the Ministry of Construction for approval, enabling land allocation for resettlement and housing construction.