Housing and public utility projects will be constructed near main metro stations, facilitating commuting and the use of public transportation.
The model of urban development along public transport axes, known as TOD, has become a solution to the issue of urban congestion in Ho Chi Minh City.
Urban areas are developed along public transport routes such as the metro system, helping residents avoid the inconveniences when living in suburban areas.
The Metro Star project is the first TOD project in Ho Chi Minh City, formed 18 years ago. Housing and public utility projects will be built near main metro stations, providing convenient conditions for commuting and using public transportation.
According to Mr. Vincent Choo Wing Sung, Director of the International Finance Department of the CT Group, each TOD project is calculated to reduce about 50% of cars and motorcycles, equivalent to reducing about 1,000 motorcycles and 100 cars in each urban area. This is an advanced model suitable for climate change adaptation and the city’s Net-zero strategy.
The implementation of TOD has addressed the housing needs for thousands of residents in Ho Chi Minh City. Currently, the city is conducting a comprehensive review of land reserves up to 5,700 hectares, ensuring lands for upcoming urban development projects.
According to Dr. Nguyen Ngoc Hieu from Vietnamese-German University, the strategy for redevelopment in adjacent areas needs to be researched and applied, enabling flexible rearrangement and effective allocation of resources and cash flows for development projects.
Ho Chi Minh City plans to segregate potential land areas along the metro line and Belt Road 3 intersections, then tender for potential investors to develop real estate, commercial, and service projects. Profits from these projects will be used to invest in other essential transportation projects of the city.
