Urban Riverside Infrastructure in Ho Chi Minh City Boosted with Increased Investment, Unveiling the Most Beneficiary Areas
Urban Riverside Infrastructure in Ho Chi Minh City Boosted with Increased Investment, Unveiling the Most Beneficiary Areas
In 2022, the People's Committee of Ho Chi Minh City (HCMC) continues to vigorously promote and plan in a coordinated manner various projects along the Saigon River (with a total length of 80km), considered a precious asset for riverside urban development in HCMC. Consequently, a series of consecutive infrastructure projects is poised to elevate the real estate value in this area.
Infrastructure Geared Towards River Tourism Development
Faced with the reality of overloaded central spaces, where most land funds are developed and high-rise buildings are densely constructed, the land on both sides of the Saigon River has become a suitable resource for community-oriented projects. These projects aim to expand the landscape, connect the central and adjacent areas, and create beautiful scenery.
With the approved project "Development of Riverside Embankments and Service Economy along the Saigon River in HCMC for the 2020 - 2045 period," this route not only addresses traffic problems but also generates significant momentum for a breakthrough in HCMC's economy. The presence of a route means that land funds will be exploited, repurposed, and transformed into urban projects and residential areas. This riverside urban development is poised to be a breakthrough for HCMC's economy, aligning with the direction of tourism development.
According to the project, the riverside urban route will extend from downtown HCMC to Cu Chi District. Information from the HCMC Department of Planning and Architecture indicates that the Saigon River flowing through HCMC can be divided into three sections, with 50 planned subdivisions (all currently fully covered).
Ben Nghe Bridge Implemented, Real Estate in District 7 Heading Towards the Price Level of Thu Thiem Real Estate
On April 28, 2022, the construction of Ba Son Bridge (Thu Thiem 2 Bridge) connecting District 1 and Thu Thiem officially commenced operation. Prior to this, the heat of land prices in Thu Thiem made projects in areas directly connected to the Thu Thiem Peninsula highly sought after in HCMC.
According to the project, section 3 runs from Tan Thuan Bridge to the end of the Saigon River at the Den Do area, District 7, on the western bank, and part of Thu Duc City (on the eastern bank), with a length of about 6km. Currently, this section has fully covered zoning plans with 12 projects (7 projects on the western bank and 5 projects on the eastern bank). The Ben Nghe Bridge project (Thu Thiem 4 Bridge) is one of them.
Immediately after the inauguration and operation of Ba Son Bridge, the Ben Nghe Bridge project has accelerated land clearance progress and early implementation in the 2022-2023 period.
The Ben Nghe Bridge project starts from the intersection of Tan Thuan 2 Bridge - Nguyen Van Linh in District 7, passes through Tan Thuan Port, crosses the Saigon River, connects with the Thu Thiem Urban Area at the intersection of North-South axis and R4 route, with a total construction cost of VND 5,300 billion. When the bridge is in operation, travel time from District 7 to District 2 will be shortened to only 3-5 minutes.
The current space along the Saigon River in section 3 is mostly vacant land, natural greenery, yet to be developed into green parks according to the plan. Architectural structures along the riverbanks are mainly low-rise residential buildings. The planning direction for areas adjacent to the riverside protection corridor will be residential areas and cultural and entertainment park zones.
