$18.7bn transit-oriented overhaul proposed for Ho Chi Minh City’s Hang Xanh junction

CII said it had submitted the proposal to the Ho Chi Minh City People's Committee following a December 2024 directive by the city chairman, after completing a preliminary concept study with consultant Arup Vietnam.

Under the plan, CII is seeking approval to develop the project under a public-private partnership (PPP) using a build-transfer (BT) contract, combining large-scale transport infrastructure with urban redevelopment based on a transit-oriented development (TOD) model.

The project's preliminary investment is estimated at VND486.622 trillion, comprising two main components, the company said.

The first component, estimated at VND189.362 trillion ($7.3 billion), would fund a multi-level transport system and advance capital for land clearance. 

The second, a TOD-based urban renewal component valued at about VND297.26 trillion ($11.4 billion), would redevelop the area around mass-transit stations with high-density, mixed-use construction.

CII said the redevelopment would create around 7.3 million square meters of residential and office floor space, integrating surface and underground urban areas while prioritizing public transport and smart mobility systems.

Hang Xanh, located at the intersection of Dien Bien Phu, Dinh Bo Linh, and Xo Viet Nghe Tinh Streets near Binh Trieu Bridge, is one of Ho Chi Minh City's most congested corridors, linking the city center with National Highway 13 and southeastern provinces.

Existing infrastructure in the area is under strain from mixed regional and local traffic flows, leading to frequent congestion and flooding, particularly during peak hours, CII said.

The company said it would carry out more detailed studies in line with legal requirements if the city approves the investment in principle.