Ho Chi Minh City develops satellite cities.

Ho Chi Minh City is implementing a Transport-Oriented Development (TOD) strategy along metro lines and Ring Roads 2 and 3. This not only helps reduce traffic congestion but also lays the foundation for building a modern and convenient living environment.

Ho Chi Minh City is implementing a Transport-Oriented Development (TOD) strategy along metro lines and Ring Roads 2 and 3. This not only helps reduce traffic congestion but also lays the foundation for building a modern and convenient living environment.

Nearly 15 years ago, the multi-center urban model was outlined in the 2010 revised master plan for Ho Chi Minh City, with the goal of forming four satellite cities in the East, West, South, and North to alleviate population density in the central area.

However, to date, only the eastern part of the city (Thu Duc City) has been formed. Meanwhile, the current situation in each planned zone has many insurmountable problems, especially cramped and crowded housing in the central area as well as housing along canals and waterways, lack of public spaces, traffic congestion, etc.

Therefore, when the Ho Chi Minh City People's Committee issued a Decision on the plan to develop 11 urban areas around the Metro (elevated railway) according to the TOD model along Metro Line 1 (Ben Thanh - Suoi Tien), Metro Line 2 (Ben Thanh - Tham Luong) and Ring Road 3, as per Resolution 98/2023/QH15, it attracted the attention of many investors, businesses, and the public.

Architect Ngo Viet Nam Son believes that building TOD (Transit-Oriented Development) zones not only facilitates people's transportation but also promotes the sustainable development of the city. These areas will attract investment, improve infrastructure, and form modern urban areas with full amenities, serving the living, working, and entertainment needs of residents.

Furthermore, with the development of the metro line and the implementation of TOD (Transit-Oriented Development) projects, Ho Chi Minh City can alleviate traffic congestion in the central area and expand urban space to the outskirts, creating high-quality satellite urban areas that attract investors and residents. These urban areas not only contribute to economic development but also improve the quality of life for residents, creating a modern, environmentally friendly urban model.

According to the plan, by 2028, Ho Chi Minh City will implement TOD (Transit-Oriented Development) in 11 locations along the metro and ring road, divided into two phases. Authorities will sequentially determine the boundaries, legal planning status, and urban development functions of each area.

Experts believe that if the 11 TOD (Transit-Oriented Development) projects recently announced by Ho Chi Minh City are implemented successfully, the total socio-economic value generated will be enormous, as it will lead to a series of added values ​​in trade, services, and especially the real estate market due to the increased urban services and amenities brought about by TOD.

To successfully implement the TOD (Transit-Oriented Development) model in Vietnam, especially in large cities like Ho Chi Minh City, Mr. Ngo Viet Nam Son recommends that Ho Chi Minh City should first focus on improving Metro Line 1. For the metro to be effective, the city needs to address challenges ranging from organizing connecting bus services and building suitable parking facilities to developing urban areas along the route. More importantly, time and a strategy are needed to change people's commuting habits, encouraging them to switch to the metro and walk short distances.

Similarly, David Jackson, General Director of Avison Young Vietnam, also believes that integrating the TOD (Transit-Oriented Development) model into real estate development projects can create sustainable communities that balance the interests of people, the environment, and the economy. This is because development costs in suburban areas are generally lower, allowing developers to offer properties at more reasonable prices. As infrastructure and transportation connections improve, property values ​​will increase, attracting the attention of developers and investors.

“Proper TOD development requires a clear vision and long-term planning, a high level of coordination among stakeholders, and consistency in every step of implementation. The key is transparency and building trust among stakeholders, in addition to financial resources, capacity, and long-term commitment,” shared David Jackson.

Mr. Tran Phu Lu, Director of the Ho Chi Minh City Trade and Investment Promotion Center, suggested that after the planning is approved, it is necessary to clearly identify the list of projects calling for investment, linked to major goals such as green economy, financial center, and logistics.

Furthermore, Mr. Lu also suggested that it is necessary to study separate mechanisms and policies for each specific objective to create attractiveness for investors. For example, to form a financial center, pioneering countries have shown that it requires not only detailed planning but also mechanisms and policies to attract financial institutions and connect the financial center with domestic financial institutions.

"For foreign investors, besides transparency in project legal documents, they are very interested in the progress of land clearance. Even with good planning and reasonable mechanisms, if there is a lack of clean land and no mechanism for pre-acquiring land to prepare for investors, then opportunities to attract investment will be lost," Mr. Lu emphasized.

Source: https://baodautu.vn/batdongsan/tphcm-phat-develop-do-thi-ve-tinh-d232508.html