On November 19, at the workshop "Journey to realize TOD urban areas in Vietnam: Opportunities and challenges" organized by DKRA Group under the direction of the Vietnam Real Estate Association (VNREA), Vietnam Television Center in Ho Chi Minh City as media sponsor, many experts emphasized the urgent need to implement the public transport-oriented urban development model (TOD).
Dr. Nguyen Van Dinh, Vice President of VNREA, said that Ho Chi Minh City is entering a period of strong restructuring, especially in planning thinking and management of development space.
TOD is considered the "backbone" of the new urban strategy, aiming to solve the problem of traffic congestion, expand urban space and improve the quality of life in the long term.
According to Mr. Dinh, when the urban area expands, the need to live near public transport routes will form new development poles, creating the foundation for Ho Chi Minh City to become a true super city.
Sharing the same view, Mr. Vo Huynh Tuan Kiet, Director of CBRE Vietnam's Housing Project Marketing Department, said that after the merger, Ho Chi Minh City will form satellite cities and move towards a "TOD revolution". When the Metro infrastructure is complete, people will gradually accept living further away from the center, prioritizing projects with clear legal status, full amenities and the ability to exploit for rent.
In fact, real estate prices around Metro Line 1 have increased from 50% to 200% in the period before and after the line was put into operation – a trend similar to many countries in the world . However, Mr. Kiet noted that for TOD to be effective, it is necessary to synchronize public transport connecting residential areas and stations to reduce pressure on personal traffic.
Real estate prices around Metro Line 1 increased by up to 200%
From an urban planning perspective, Dr. Ngo Viet Nam Son affirmed that TOD is not only important but also “vital” to Ho Chi Minh City. He pointed out that Vietnam has only been approaching this model for about 3 years, while the world has been ahead for decades. Therefore, building a TOD ecosystem must ensure convenience for all subjects, encourage walking habits and develop integrated planning from the beginning.
In addition, the city needs to encourage public-private partnership, strengthen the legal basis to take advantage of land funds for budgeting, and integrate smart technology in Metro operations and urban management.
According to Mr. Son, a true TOD living environment must make residents want to walk and exercise more, while creating a community identity associated with public transport routes.
The workshop also noted the general consensus that Ho Chi Minh City has only one Metro line and has not yet formed any complete TOD urban area. Therefore, TOD is expected to become a core factor, shaping the housing market in the next 10-20 years.
A representative of the Department of Planning and Architecture of Ho Chi Minh City said that the city will implement the project in phases. In the first 5 years, Ho Chi Minh City will deploy 11 pilot TOD locations with a scale of 1,700 - 1,800 hectares along Metro lines 1, 2 and Ring Road 3. The old Di An area alone will have a TOD cluster of 420 hectares with an investment capital of nearly 1,000 billion VND.
Ho Chi Minh City aims to develop a 355-km metro network by 2035, while mobilizing about 7.8 billion USD from TOD land funds to reinvest in public transport infrastructure. This is considered a strategic step to help the city solve congestion, improve quality of life and promote sustainable urban development in the coming decades.
Source: https://nld.com.vn/gia-bat-dong-san-quanh-metro-so-1-co-noi-tang-toi-200-19625111913211009.htm
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