Ho Chi Minh City determines boundaries of TOD land plots along metro line 2

The Ho Chi Minh City People's Committee has just issued a document assigning the Ho Chi Minh City Urban Development Management Board to preside over and coordinate with departments, branches and 14 wards to review approved zoning plans and determine the boundaries of the TOD area (urban development model associated with public transport) along metro line 2 (Ben Thanh - Tham Luong).

Priority is given to 4 areas with large land funds including: Le Thi Rieng station (related to land plot C30); Bay Hien station (related to the land plot of the Exhibition Center and the old Tan Binh District Sports Center); Pham Van Bach station, Tan Binh station (related to land plot I/82a, Tay Thanh); Tham Luong depot (Tham Luong depot station area).

The land currently occupied by the Tan Binh District Exhibition and Sports Center (old) will be planned as TOD along metro line 2.

After reviewing, the units will assess the current status of land use, land law, technical infrastructure, social infrastructure within the TOD scope and propose plans to adjust related zoning plans to suit the urban development orientation associated with metro.

The City People's Committee assigned the Department of Construction to guide the City Urban Development Management Board to prepare a report reviewing approved zoning plans.

The Department of Construction also presides over the appraisal of local adjustments to zoning plans according to the above list, and submits them to the City People's Committee for approval according to regulations.

The Department of Agriculture and Environment coordinates with wards related to areas planned for TOD development to review the current status of land use and legal status of land use, focusing on public land funds managed by the State or land funds leased to State-owned enterprises.

Metro line No. 2 (Ben Thanh - Tham Luong), over 11 km long, was approved in 2010 with a total initial investment of 1.3 billion USD (equivalent to 26,000 billion VND).
By 2019, the Project's total investment was adjusted to 2.1 billion USD (nearly 47,900 billion VND), of which ODA loans accounted for 37,487 billion VND from 3 main sponsors: Asian Development Bank (ADB), German Reconstruction Bank (KfW) and European Investment Bank (EIB).
Due to difficulties in arranging finance for the project due to changes in loan conditions from international donors, Ho Chi Minh City has decided to switch to investment using budget capital.
According to the plan, Ho Chi Minh City will start construction of Metro Line 2 at the end of 2025 because the project has a clear site for construction. The city will auction the TOD land to get capital to reinvest in infrastructure.

Source: https://baodautu.vn/tphcm-xac-dinh-ranh-cac-khu-dat-lam-tod-doc-tuyen-metro-so-2-d383486.html