Opportunities for satellite city development

After Ho Chi Minh City announced a plan to deploy 11 TOD locations (arranging many houses with services and utilities near public transport points) along the metro line, experts and local authorities said this is an opportunity to form satellite urban areas.

Ho Chi Minh City is implementing TOD along the metro line and beltway according to Resolution 98. Of which, along metro line 1 there are good conditions for development - Photo: CHAU TUAN

Potential and attractive opportunities for investors are the assertions of experts and localities when discussing with us about the plan just announced by Ho Chi Minh City.

Mr. HOANG TUNG (Chairman of Thu Duc City People's Committee):

Many attractive investment opportunities from TOD

In Thu Duc City, there are 10 planned large-scale public transport routes (metro/light rail; connecting to the general network of Ho Chi Minh City), with about 110 stations (15 double stations - intersection of two or more public transport routes).

The TOD development orientation areas are the 400m range around single stations and 800m around double stations.

In the period 2025 - 2030, Thu Duc City will focus on developing TOD along metro line 1, ring road 2, ring road 3, and Pham Van Dong.

In particular, the development around the station of metro line 1 is focused, expected to be commercially operational in December 2024. Initially, the operation of metro line 1 will bring a new and modern image to Thu Duc City.

Thao Dien and An Phu stations will come into play as soon as they are approached by large-scale high-rise buildings and commercial service complexes.

Other station areas will develop high-density mixed-use urban complexes, including apartment buildings, commercial services, offices connected to the station and public spaces, green parks and public squares.

The application of the TOD model in Thu Duc City will facilitate synchronous and sustainable development and improve the quality of life for residents, while bringing many attractive business and investment opportunities.

Mr. David Jackson (General Director of Avison Young Vietnam):

TOD contributes to creating satellite urban clusters

The TOD model aims to create dynamic and livable cities by concentrating jobs, housing, services and amenities along metro rail (MRT) or bus rapid transit (BRT) lines.

TOD development or redevelopment projects are planned in a multi-functional direction, combining housing, commercial space (office, retail) and entertainment venues to attract residents, workers, shoppers and visitors.

On the one hand, TOD promotes people to travel by public transport, increasing demand, which can attract investors' interest in infrastructure projects.

On the other hand, through the TOD model, real estate investors can estimate the population size, traffic volume, customer numbers as well as the development potential of the area.

An example of an effective TOD model near Vietnam is in Singapore, this island nation has integrated urban transport development with spatial design and planning, forming a cluster of satellite urban areas surrounding the central core area, with a railway network connecting these urban areas with industrial zones and the city center.

Or Metro Vancouver (Canada) is an example where large-scale complex TOD projects converge enough to form a "closed urban area", a city within a city.

The government and real estate developers have redeveloped the land into high-density, self-contained complexes of housing, retail, offices and public spaces... connected to public transport nodes.

This gives Metro Vancouver the capacity to accommodate millions of new residents each year.

As one of the solutions for sustainable urban development, the TOD model is being applied in Hanoi and Ho Chi Minh City with priority given to building urban railway lines to ensure travel needs and solve traffic congestion.

To realize the above mentioned things, there needs to be a synchronous plan and implementation, a thorough forecast of revenue and a long-term commitment to call for the participation of real estate investors, investors in the infrastructure sector, technology suppliers, operators...

Proper TOD development requires clear vision and long-term planning, a high level of coordination among parties, and consistency in every step of implementation.

In particular, integrating the TOD model into real estate project development can create sustainable communities, balancing the benefits between people, the environment and the economy .

The leader of one of the first Green TOD projects in Ho Chi Minh City said that the project's location and connection will create great convenience for residents within the project area in moving to metro station No. 1 and vice versa.

This helps create a double effect in stimulating the increased use of green public transport such as trains, reducing private vehicles (motorbikes, cars) to reduce traffic congestion and emissions.

And also greatly increasing the number of passengers traveling by train helps quickly recover capital for the train industry, saving a lot of time for people.

In addition to providing a large number of apartments to meet real needs, Green TOD projects in this area will contribute to creating a modern lifestyle for young residents of the city as well as helping to increase commercial services at the station, adding more budget revenue, attracting international tourism, and enhancing the connection between universities and cultural and sports centers along the route.

Source: https://tuoitre.vn/co-hoi-phat-trien-do-thi-ve-tinh-20241108080433278.htm