Intersection of HCM City’s Ring Road 4 and the HCM City-Thủ Dầu Một-Chơn Thành Expressway. — Photo courtesy of the Department of Construction

HCM CITY — HCM City is seeking investors for a new urban development project worth nearly VNĐ29.65 trillion (US$1.1 billion) in the city’s northwestern growth corridor, as authorities accelerate expansion along major regional transport routes.

The municipal government has announced an investment call for the North of Ring Road 4 Urban Area, a 280-hectare development planned over a maximum period of 12 years.

The project will cover more than 272 hectares designated for urban development and about 8.7 hectares of water surface.

It is envisioned as a fully integrated urban area with synchronised technical and social infrastructure aimed at optimising land use, supporting economic growth and strengthening connectivity in the city’s expanding northern gateway.

Planned components include residential zones, mixed-use developments and commercial-service facilities such as offices, retail, accommodation and tourism-related services for sale, lease or lease-purchase.

The project will also feature educational facilities, urban parks, green spaces and supporting technical infrastructure.

The development was approved in principle in June 2025, before recent administrative restructuring expanded HCM City’s boundaries.

The project is located in one of the city’s largest newly reorganised urban areas, which is seen as having significant potential for urban, industrial and logistics development due to its large land reserves and strategic position.

The area has already attracted several large-scale investments, including a 724-hectare integrated urban and port development launched by Sun Group with total registered investment exceeding VNĐ51.16 trillion.

The latest investment call comes as HCM City pushes development along Ring Road 4, a strategic transport corridor expected to connect the city with neighbouring industrial centres across the southern key economic region.

Once completed, the route is expected to ease pressure on existing arterial roads, improve freight movement and unlock new opportunities for urban, industrial and logistics expansion. — VNS