Major Vietnamese developer Sun Group proposes riverfront road, metro line projects in HCMC

Sun Group, a leading real estate developer in Vietnam, is seeking Ho Chi Minh City authorities’ permission to invest in a riverfront road along the Saigon River and a 40-kilometer metro line under the build-transfer (BT) model in the former Cu Chi district.

Chi Chi district has been divided into seven communes, with one of them named Cu Chi, after the merger of HCMC, Ba Ria-Vung Tau province and Binh Duong province to establish new HCMC, starting from Tuesday.

In its proposal to the municipal People’s Committee, the group said it wishes to build the 40 km riverfront road along the Saigon River with eight to 10 lanes. Additionally, it aims to develop a metro or tramway line running along the river through the former Cu Chi district.

Unlike its previous proposal in 2024, where Sun Group proposed a 78.2 km riverfront road stretching from Cu Chi to Can Gio Bridge, this one presents a smaller scale.

Sun Group suggests implementing the project under the BT format, with a land-for-infrastructure exchange mechanism. In return, it proposes receiving land use rights and investment opportunities at riverside land plots in the former Cu Chi district, covering approximately 4,100 hectares.

The corporation also proposes to invest in two other major projects: the Rach Chiec National Sports Complex (187 hectares) and the National Cultural and Historical Park (395 hectares).

These two projects are proposed to be developed under the BT model. In return, it wants land use rights and development rights in the Truong Tho Urban Area, covering 147 hectares.

Sun Group affirms that with its capacity and experience in implementing large-scale projects nationwide, if selected as the investor for the aforementioned projects, it commits to carrying them out quickly and efficiently to contribute to the socio-economic development of Ho Chi Minh City.

Earlier, Vietnam's industrial conglomerate Truong Hai Group (Thaco) had proposed studying investments in the Ben Thanh-Thu Thiem-Long Thanh railway line and Metro Line 2 (Ben Thanh-Tham Luong), both in Ho Chi Minh City.

Metro Line 2 is part of HCMC's urban railway system. This route will pass through Districts 1, 3, 10 and 12, Tan Binh District and Tan Phu District, with the end point being Tham Luong station.

Ben Thanh is a ward in District 1, while Tham Luong is located in Tan Thoi Nhat ward, District 12. Meanwhile, the Ben Thanh-Thu Thiem-Long Thanh railway line is expected to synchronously connect urban railway lines from the city center (Ben Thanh) to the Thu Thiem Urban Area, and extend to Long Thanh International Airport, which is under construction in Dong Nai province, according to the municipal People’s Committee.

It will be unified route suitable in terms of technology and urban space development orientation for the socio-economic development of the eastern area of the city, it added.