PM nod recommended for $3 bln Mekong Delta urban area project
The Ministry of Planning and Investment has recommended that the Prime Minister approves a VND74,406 billion ($3.1 billion) mega urban area project in the Mekong Delta province of Long An.
In its proposal, the ministry has also suggested that the PM approves a bidding process to select investors for the 930-hectare Tan My new urban area in Tan My commune, Duc Hoa district.
Long An province, Mekong Delta, southern Vietnam. Photo courtesy of Xay Dung (Construction) magazine.
As planned, project will have 13,093 land lots for commercial housing of 8,338 semi-detached houses and 4,775 villas; 7,409 social housing units; 7,820 apartments; and other constructions.
The project’s investment includes VND60,196 billion ($2.5 billion) for construction and VND14,120 billion ($584 million) for resettlement of affected residents.
It is expected that construction of the 50-year project will be completed within seven years from the date of receiving an investment license.
Also in Tan My commune, Long An authorities recently approved Green City Development JSC, a subsidiary of major real estate developer Vinhomes, as investor for the Hau Nghia-Duc Hoa new urban area. With an investment of VND28,257 billion ($1.2 billion), it is the first realty project in the Mekong Delta province that crosses the $1 billion investment milestone.
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