Binh Quoi-Thanh Da project investor to remain unidentified for 2.5 years

Binh Quoi-Thanh Da project investor to remain unidentified for 2.5 years By Le Anh A bird’s eye view of Thanh Da Peninsula – PHOTO: ANH QUAN HCMC – It will take at least another 2.5 years to get a new investor for the long-stalled Binh Quoi-Thanh Da ecological urban area project on Thanh Da Peninsula in Binh Thanh District, said HCMC Chairman Nguyen Thanh Phong. At a meeting on the city’s socioeconomic performance for last month held today, November 1, Phong remarked that the Binh Quoi-Thanh Da ecological urban area project was approved in 1992. It was assigned to Saigon Construction Corporation in 2004, but the firm failed to execute the project. The city government then decided on a project recall in 2010. Following this, a joint venture comprising Bitexco and Emaar Properties PJSC, a property developer from Dubai, was chosen in late 2015 to develop the project. However, the foreign partner withdrew after a long wait for the land site to be transferred. Bitexco later proposed developing the project on its own, and the city government assigned the relevant departments and agencies to assess Bitexco’s capacity. The municipal government proposed the Prime Minister allow the city to choose an investor for the project, but its proposal was not approved. The HCMC Department of Planning and Investment later suggested holding a public tender to select an investor for the project. However, preparations for the tender will take at least 2.5 years, Phong noted. The 426-hectare Binh Quoi-Thanh Da ecological urban… [Read full story]