A view of the Bình Quới-Thanh Đa Peninsula in HCM City, where authorities have called for a strategic investor to revive the long-stalled urban development project. — VNA/VNS Photo

HCM CITY — HCM City authorities have officially called for a strategic investor to participate in the development of the long-stalled Bình Quới-Thanh Đa new urban area, a project spanning more than 400 hectares with an estimated total investment of over VNĐ50 trillion (US$2 billion).

According to a notice from the HCM City People’s Committee, investor selection will follow a strategic investor mechanism.

If only one investor meets all required criteria, the city may consider direct approval. In the event that two or more investors submit eligible proposals, the city will issue a set of evaluation criteria and conduct a selection process to ensure transparency and competitiveness.

Investor proposals will be accepted from the date the information is published on the city’s official online portal.

Submissions may be made at the HCM City Public Administration Service Centre or via the National Public Service Portal, in accordance with regulations.

City leaders said authorities are encouraging investors with strong financial capacity and proven experience in urban development to study and propose development plans, with the goal of transforming Bình Quới-Thanh Đa into a modern, eco-friendly and sustainable urban area.

The planned urban area is located in Bình Quới Ward, covering nearly 406 hectares on the Bình Quới-Thanh Đa Peninsula, which is surrounded by the Sài Gòn River.

The project is designed as an integrated urban complex, featuring residential areas, mixed-use zones, administrative and service centres, commercial and tourism facilities, along with extensive parks, green spaces, water surfaces and fully integrated technical and social infrastructure.

Under a city master plan to 2040, the area is designated for ecological development and climate change adaptation, including functions as a flood-retention and wetland park, and is expected to play a key role in the city’s overall urban spatial structure.

The Bình Quới-Thanh Đa Peninsula occupies a rare, strategically located land bank within the city, almost entirely encircled by the Sài Gòn River and Thanh Đa Canal. 

Situated about 6.5 kilometres from the city centre, it is one of the few remaining large undeveloped areas within a 10-kilometre radius of downtown HCM City, offering exceptional potential for eco-urban development amid dense urbanisation.

First planned in 1992, the Bình Quới-Thanh Đa project has remained largely frozen for more than three decades, despite multiple adjustments and changes of major investors. It has long been regarded as one of the city’s most persistent planning bottlenecks.

The renewed investor call marks the city’s latest effort to unlock the potential of one of its most valuable and long-delayed urban development sites. — VNS