HCMC Accelerates Development of ‘Phu My Hung 2’ Urban Area

(PLO) – After 30 years, Phu My Hung City Center has only developed functional zone A, while four other zones (B, C, D, and E) have not yet been planned due to land acquisition and compensation issues.

The People’s Committee of Ho Chi Minh City recently issued a document on key projects to celebrate the 50th anniversary of The Liberation of the South Day and the reunification of the country (The April 30 Victory, April 30, 1975 – April 30, 2025), which sets a timeline for resolving compensation for the remaining zones of the Phu My Hung Urban Area.

Compensation Plan Approval

“The compensation plan for zones B, C, D, and E of the Phu My Hung area is expected to be approved by April 30, 2025,” stated the latest document from the People’s Committee of Ho Chi Minh City regarding the key projects to mark the 50th anniversary of national reunification.

In this document, the remaining zones B, C, D, and E are called “Phu My Hung 2.”

According to the People’s Committee, the Phu My Hung City Center project has contributed to creating a high-quality living environment, provided housing solutions for city residents, generated employment opportunities, and contributed to tax revenues and the economic growth of the city.

Simultaneously, Phu My Hung has helped enhance the technical infrastructure and improved traffic connectivity between District 7, Binh Chanh, and Nha Be, creating a quality environment for education, leisure, and entertainment for the city’s residents.

Currently, only zone A has been formed, the remaining 4 areas of Phu My Hung have not been fully implemented.

Photo: Phu My Hung

Completing Phu My Hung

Previously, at a regular press conference in July, Mr. Dang Quoc Toan, Chief of the Office of the People’s Committee of Ho Chi Minh City, announced that Phu My Hung Development Corporation was granted an investment license in 1993. This joint venture is between Tan Thuan Industrial Development Company Ltd. (IPC – Vietnam, formerly Tan Thuan Industrial Development Corporation) and Phu My Hung Asia Holdings (formerly CT&D Group – Taiwan).

According to the investment license, Phu My Hung will build and develop five functional areas (A, B, C, D, and E) with a total area of ​​600 hectares and 150 hectares of public land for leveling, infrastructure construction, and then transferred to the city to build public works without reimbursement.

The urban center – Phu My Hung City Center (Zone A – 433 hectares) has been completed, while the other zones include University Village (Zone B – 95 hectares), High-Tech Center (Zone C – 46 hectares), Goods Distribution Center II (Zone D – 85 hectares), and Goods Distribution Center I (Zone E – 115 hectares).

Currently, Zone B near Ong Lon and Dia canals houses two international schools: RMIT University (Australia) and VFIS (Finland). Zone C, located at the intersection of Nguyen Van Linh Parkway and Huong Lo 7, is primarily a water reservoir.

Zone D, located at the confluence of Cho Dem and Can Giuoc rivers, remains undeveloped, with hundreds of households still living in limbo under suspended planning. Zone E, located at the intersection of National Highway 1 and Nguyen Van Linh Parkway, is in a state like Zone D.

With many zones yet to be developed, the full completion of Phu My Hung Urban Area will bring a fresh face to the southern part of the city.

The final report on the HCMC Master Plan Adjustment to 2040, with a vision to 2060, mentions the expansion of the CBD (Central Business District) of Phu My Hung into a central hub for the entire southern urban region. This includes converting riverside industrial areas and redeveloping canal-side spaces to form a system of urban centers along rivers/canals and around public transit stations.

Source: Phap Luat (plo.vn)