The highest compensation price for Ring Road 2, Ho Chi Minh City is expected to be 111.5 million/m2.

The compensation and clearance price for the construction of Ring Road 2 through Thu Duc City, Ho Chi Minh City is expected to range from 50.8 million/m2 to 111.5 million/m2 (depending on location).

The highest compensation price for the Ring Road 2 project in Ho Chi Minh City is expected to be 111.5 million VND/m2.

The compensation and clearance price for the construction of Ring Road 2 through Thu Duc City, Ho Chi Minh City is expected to range from 50.8 million/m2 to 111.5 million/m2 (depending on location).

On the afternoon of October 28, the People's Committee of Thu Duc City (HCMC) held an information conference on the draft compensation, support and resettlement plan for two sections of the Ring Road 2 Project, including the section from Phu Huu Bridge to Vo Nguyen Giap Street (section 1) and the section from Vo Nguyen Giap Street to Pham Van Dong Street (section 2).

At the conference, Mr. Mai Huu Quyet, Vice Chairman of Thu Duc City People's Committee, said that both sections 1 and 2 have 1,166 households, individuals and organizations affected, the land area to be recovered is 61.1 hectares, the total compensation and resettlement support capital is about 7,600 billion VND.

Mr. Quyet said that the compensation price at this project is 30-97% higher than the price list approved by the Ho Chi Minh City People's Committee in Decision 79/2024/QD-UBND dated October 21, 2024 at location 1 (main road frontage), other locations are much higher than the old land price list, so it is consistent with the market price.

In addition, the resettlement price by land plot is equal to the price in the land price list according to Decision 79/2024/QD-UBND, so it is very beneficial for the people.

Planning land preparing for investment in the Ring Road 2 project at the intersection with Pham Van Dong Street, Thu Duc City - Photo: Le Toan

According to the draft to collect public opinions, the compensation price for the location on Duong Dinh Hoi street is more than 74 million/m2, the location of the alley 5m wide or more is more than 50.8 million/m2, the location on Tang Nhon Phu street is more than 75 million/m2, the frontage on Do Xuan Hop street is more than 101.9 million/m2, the frontage on Pham Van Dong street is more than 111.5 million/m2,...

The draft compensation, support and resettlement plan of the Ring Road 2 Project will be posted at the headquarters of the People's Committees of wards and the Executive Boards of neighborhoods where the Project passes through to collect public opinions for 1 month, starting from October 28, 2024.

Regarding the land fund used for resettlement of people, up to now, Thu Duc City People's Committee has also prepared enough including land plots of Dai Nhan Residential Area (Hiep Binh Phuoc Ward); Dong Tang Long Urban Area (Long Truong and Truong Thanh Wards); 50-hectare resettlement area (Cat Lai Ward); Long Binh - Long Thanh My resettlement area; Lot R of Duc Khai Apartment (An Khanh Ward)...

Through the actual survey of Thu Duc City, the resettlement areas have favorable locations, synchronously connected technical and social infrastructure, ensuring stable life for people after receiving resettlement houses and land.

According to the plan, the 2 sections of Ring Road 2 through Thu Duc City will start construction in the first quarter of 2025.

Ring Road 2, Ho Chi Minh City is 64 km long, up to now 50 km has been completed and put into use, 14 km is not yet closed.
Currently, Ho Chi Minh City is researching to close the remaining 14 km, divided into 4 sections.
Section 1 from Phu Huu bridge to Vo Nguyen Giap street, 3.5 km long, total investment of 9,328 billion VND from the budget.
Section 2 from Vo Nguyen Giap Street to Pham Van Dong, 2.5 km long, total investment of 4,543 billion VND from the budget.
Section 3 from Pham Van Dong Street to Go Dua intersection (National Highway 1), 2.7 km long, total investment of 2,765 billion VND, invested in the form of BT.
Section 4, from National Highway 1A to Nguyen Van Linh Street, is 5.3 km long and currently has no capital to invest in.

The compensation and clearance price for the construction of Ring Road 2 through Thu Duc City, Ho Chi Minh City is expected to range from 50.8 million/m2 to 111.5 million/m2 (depending on location).

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