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RELOCATED 20,000 HOUSES ALONG CANALS IN HO CHI MINH CITY: DIFFICULT BECAUSE OF THE LACK OF CAPITAL

Relocated 20,000 houses on and along the canal Ho Chi Minh City

The estimated budget for the relocation of houses belonging to the project of relocation of houses along canals in the city in the period 2016-2020 is 30,890 billion. But according to the Department of Planning and Investment reported to the city People’s Committee, estimated current capital is 2,100 billion.

According to the HCMC Department of Construction, from 2016 to 2020, the city has to complete the relocation of all 20,000 houses along canals.

In urban refurbishment with budget capital for 44 projects, moving more than 10,000 houses; 8 canal lines with nearly 9,000 houses in the form of public-private partnerships (PPPs) and 5 canals with about 900 houses in the form of investment projects to build housing combined urban renewal.

However, up to now, only about 500 along-the-canal houses have been relocated.

According to the Department of Construction, due to the urban renovation projects need large investment capital, the average invested capital is 1.5 billion per unit, the project on the south of Doi canal is 2.6 billion per unit, meanwhile, long withdraw funds time shall not attract investors.

Relocated 20,000 houses on and along the canal Ho Chi Minh City
A corner of a row of houses along the Ben Nghe canal, District 4, Ho Chi Minh City

You can read more information at Vietnam Real Estate Market

Associate Professor Pham Tu – Vice President of Ho Chi Minh City Association of Architects – said that due to the experience of countries around the world, the adjustment of urban development is inevitable, but completely site clearance is a wrong choice.

In the current economic conditions of the city, housing programs for people on the canal and rivers will be very difficult in terms of investment capital. Therefore, the city government should apply the technology of redistricting.

This technology is applied very early in countries such as Germany, Canada, Australia, Thailand… to improve some areas in the form of recesses spontaneously populated, or areas in rivers and canals that the owner is mainly poor people, low-income people in urban areas.

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