HCM CITY — HCM City is planning to auction approximately VNĐ164 trillion (US$6.4 billion) worth of land near canals after completing a relocation project by 2030. The initiative involves clearing nearly 40,000 houses currently situated along rivers, canals, and ditches across 16 city districts and Thủ Đức City.
The city’s Department of Construction has proposed the relocation as part of a broader effort to enhance the urban landscape. The total investment required for this project is estimated to be over VNĐ221 trillion.
Of this amount, around VNĐ130.68 trillion is allocated for compensating and supporting the affected households. For those not eligible for relocation, the city plans to build social housing, with nearly VNĐ10.7 trillion set aside for this purpose. Additionally, about VNĐ80 trillion is expected to be invested in infrastructure improvements, such as dredging and upgrading the canal routes.
Once the relocation is completed, the newly available land along the waterways will be offered for auction, providing opportunities for housing, commercial, and socio-economic development projects. Beyond the financial returns, the project aims to improve the quality of life for residents and enhance the city’s urban environment.
HCM City has set a target to relocate over 46,000 houses along the canals by 2030. To achieve this, the city is exploring various strategies, including comprehensive planning, mobilising investment, and implementing policies to support land clearance. Resettlement and social housing will be prioritised as part of the relocation process.
Since 1993, the city has relocated over 44,300 homes, contributing to the revitalisation of several canals, including Nhiêu Lộc-Thị Nghè, Tàu Hủ-Bến Nghé, and Tân Hóa-Lò Gốm. However, recent years have seen challenges in terms of investment shortages and land clearance. — VNS
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