Residential and public utility projects will be built near major metro stations, facilitating travel and public transportation usage.
Transit-oriented development (TOD) emerges as a solution to Ho Chi Minh City’s dense urban planning challenges. Developing urban areas along public transportation routes, such as metro systems, alleviates the challenges faced by residents living far from the city center.
Metro Star is the first TOD project in Ho Chi Minh City, with an 18-Year History. Residential and public utility projects will be clustered around major metro stations, fostering convenient access and utilization of public transportation.
According to Mr. Vincent Choo Wing Sung, Director of Internation Finance at CT Group, each TOD project is designed to reduce about 50% the number of cars and motorbikes, equivalent to a reduction of approximately 1,000 motorbikes and 100 cars per urban area. This is an advanced model that aligns with climate change and the city’s Net-zero strategy.
The implementation of TOD has addressed the housing needs of thousands of residents in Ho Chi Minh City. The city is currently conducting a comprehensive land-use review encompassing 5,700 hectares to secure land for future urban development projects.
According to Dr. Nguyen Ngoc Hieu from Viet Duc University, a zone-based redevelopment strategy should be researched and implemented to facilitate flexible rearrangement and effective spatial resource and cash flow arrangement for development projects.
Ho Chi Minh City plans to identify promising land plots along metro lines and Ring Road 3 intersections, followed by bidding to attract potential investors for developing real estate, commercial, and service projects. Profits from these projects will be reinvested into other essential transportation projects in the city.
Source: VTV1
