Parking lot project in Tao Dan Park
According to Vice Chairman of HCM City People's Committee Tran Vinh Tuyen, the Department of Natural Resources and Environment (DNRE) will report about the difficulties and solutions to 100 projects which failed to follow the land use plan approved by the authorities for 2015-2018 period.
Meanwhile, the HCM City People's Council will review and deal with 80 projects whose land should be recovered. The DNRE will consult and report about the cancellation of these projects in the people's council's meeting session in January.
A total of 812.9 hectares have been allocated for those projects. District 10 leads the list with 22 projects. Binh Chanh District has 17 projects. District 9 and Thu Duc has 15 and 13 projects respectively.
The hotel, office and shopping complex project located at the junction of Tran Hung Dao. Nguyen Thai Hoc and Pham Ngu Lao is the most talked-about. In 2007, the city authorities started a tender process but the result was scrapped due to various wrongdoings. An affiliation of four companies then proposed to use the project but failed to fulfil the requirements to ensure the project's progress.
Four years later, the city authorities started another tender process. They are still unable to find capable investors for the project.
The Trong Dong Theatre in District 1 is a VND740bn project. It covers 47,732 square metres with a shopping area. However, nothing has been done since 2010 due to difficulties in legal procedures. Its design was recently changed again.
According to the DNRE, a large number of the projects still can't find suitable investors or have to be converted for another purpose. Some projects were stagnant due to lack of funds, difficult ground clearance issues, and adjustments in the city's urban planning.
Stagnant projects which cannot be cancelled such as Xuyen Tam Canal or the Ring Road 3 will be divided into smaller parts for easier ground clearance work.