18ha in Binh Hung Hoa cemetery relocation area (Binh Tan District, HCM city) is auctioned to build a high-rise complex combining trade and services.
On July 13th, the Vice Chairman of the People’s Committee of Binh Tan District, Mr. Nguyen Minh Nhut, provided information on planning a part of Binh Hung Hoa cemetery into a high-grade urban area.
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Accordingly, recently there is information that the land in this cemetery will become high-rise urban area. On this, Mr. Nhut affirmed that Binh Hung Hoa Cemetery has a total area of about 44 hectares, of which only 18 hectares is planned to be a commercial urban area.
Nhut said in the past, TP has the policy of calling for investment to investors to spend money on graves. However, due to not being able to find an investor, TP has set up a plan for allocating capital for Binh Tan district to move the grave first. Thus, 18ha will be relocated to Binh Tan District and will be handed over to TP to bid for land use rights, calling for investment to build a high-rise complex combining trade in services. Estimated revenue in this 18ha will reach nearly VND2,500 billion, equivalent to the auction of nearly VND15 million/sqm.
This will be the source of revenue to repay the city budget previously spent as well as to fund the relocation of the rest of the project and 26ha investment to build the park.
Up to this time, the project moved Binh Hung Hoa cemetery phase 1 to about 4,000 tombs have not been loaded. Binh Tan District has a registration deadline for registration in October 2017. After this time, the grave has no relatives to register will be absent owner. The owner’s remains will be stored in the Maitreya pagoda. After the grave is empty if the relatives get to receive, they will receive only the money, but they do not get the compensation policies involved.
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