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HCMC Will Spend More Than VND15 Trillion To Invest In Many Infrastructure Projects For Sea Games 31

Infrastructure project for Sea Games 31

In a series of infrastructure facilities serving Sea Games 31, Rach Chiec Sports Complex and Phan Dinh Phung Stadium are the two largest.

You can read more information at Vietnam Real Estate Market

Rach Chiec Sports Complex – The highlight of the Sea Games 31

HCMC People’s Committee has submitted to the Prime Minister, Ministry of Culture, Sports and Tourism about the project to host the 31st Southeast Asian Games (SEA Games 31) and Sports Festival of the Disabled South East Asia (Paragames 11) in 2021 in Ho Chi Minh City.

Specifically, the total cost for SEA Games 31 about VND15,612 billion. In particular, the cost of compensation for ground clearance and technical infrastructure for the Rach Chiec National Sports Complex (District 2) is nearly VND 8,140 billion, direct expenses for hosting the SEA Games 31 nearly VND 7,480 billion.

Infrastructure project for Sea Games 31
Perspective of Rach Chiec sports complex

According to the project, the system of physical training and sports facilities in HCMC serving SEA Games 31 include existing facilities and new facilities. In addition, the system of yards in Binh Duong province, Dong Nai province is also used for this SEA Games.

Currently, Ho Chi Minh City has 22 stadiums, most of which meet the standards of SEA Games competition. These venues have hosted the 2003 SEA Games, the 2009 Asian Indoor Games and regularly host regional, continental and world sports.

City People’s Committee estimated budget for repairing and upgrading the above works is about VND 205 billion, of which the socialization cost about VND 21 billion.

In addition, the City People’s Committee also confirmed that will focus on three key projects to ensure the progress of the SEA Games 31.

Firstly, Phan Dinh Phung Sports Center (District 3) will have a press center, TV center and gymnasium, Billiards & Snooker, Tears. It is expected that there will be the main stadium of 2,700sqm, pitch yard of 11,470sqm, 4,000 seats.

Total investment capital of this project is more than VND 1,950 billion, in the form of BT contract (return to investors by the land fund). It is expected that in early 2018, the project will be started and completed by the end of 2020.

Second, the main stadium at Rach Chiec National Sports Complex (over 180 hectares) with 12 main categories. Ho Chi Minh City has approved for investors to study the project of building technical infrastructure in the area of BT, estimated at VND 1200 billion.

In addition, at present, there have been investors to advance funds (without interest) to compensate for clearance of this physical training complex.

Estimated this work needs nearly VND 6,940 billion.

City People’s Committee also said that has the policy to allow investors to invest in the construction of a 50,000-seat stadium with track running according to international standards at Rach Chiec National Sports Complex with funds about VND 3.125 billion.

The project is expected to be completed in the first quarter of 2021. After SEA Games 31, Ho Chi Minh City will form a training center for athletics, athletics here.

Infrastructure project for Sea Games 31
Perspective of Rach Chiec Sports Complex

Third, to build the Center for Training and Physical Training in HCMC (Phu Tho Racetrack, District 11).

Accordingly, the city will focus on building new lakes for underwater sports (to complete Phu Tho Aquatic Sports Palace), archery school, training and fencing, the martial arts …

The investment cost is more than VND 1,280 billion, from the budget. After SEA Games 31, this place will be the training place for athletes of the city.

City People’s Committee proposed to host ASEAN Paragames 11 after the 31st SEA Games ended. Estimated expenditure for preparing to host ASEAN Paragames 11 is about VND 170 billion.

The price of land near SEA Games Sports Center doubled

Infrastructure project for Sea Games 31
Many routes around the facilities serving SEA Games 31 have a strong increase

Recent research by Gachvang Co., Ltd. said that before the re-start information, the price of land in the roads surrounding the complex is Mai Chi Tho, Dong Van Cong, Nguyen Thi Dinh, Do Xuan Hop. there are strong fluctuations.

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The most spectacular hotspot around the Rach Chiec sports area, the front of Nguyen Thi Dinh street, An Phu ward, at the beginning of the year recorded a price of VND 42.52 million per sqm now has jumped to VND 80.55 million. Compared to the same period last year, the starting point from the level of VND 40.9 million per sqm, in the past 12 months, the street price of this street spurt 96.9%, approximately doubled.

Meanwhile, Nguyen Thi Dinh street, Binh Trung Tay Ward, also land prices from VND 44.39 million per sqm team to VND 73 million, up 64.4% in the past nine months. Compared with the starting price of this road segment in September 2016 only at VND 43.33 million sqm, land prices increased 1.7 times.

Infrastructure project for Sea Games 31
Price of some roads surrounding the Rach Chiec Sports Complex

The Dong Van Cong Street, Binh Trung Tay Ward, the Long Thanh – Dau Giay Expressway to the south of the Rach Chiec Sports Complex has a land price of VND35.5 million per m2 jumping to VND59 million, up 66% over the beginning of the year.

Also located around the sports complex serving SEA Games 31, Mai Chi Tho street, An Phu ward is currently trading VND 76.59 million per sqm, and Do Xuan Hop, Phuoc Long B Ward recorded VND 65 million per sqm. Land prices in these two streets increased by 18-19% in only 9 months.

Particularly, the Do Xuan Hop road, at the beginning of the year, the price of land from the area of VND 54.5 million per sqm has been translated to VND 90.3 million in April 2017, then gradually decreased to VND 65 million per sqm.

According to experts forecast, Rach Chiec sports area is located at the eastern gate of Ho Chi Minh City will be the largest sports ecology in Saigon and the country. The project has had a strong impact on the Rach Chiec real estate market in the past 9-12 months and next time land prices will continue to grow positively.

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