Today (June 27), District 1 People's Committee (HCMC) held a conference to meet businesses, invite interest and call for investment in the "Ga Gao Market Project".

Nearly 50 years of waiting for change

At the conference, District 1 Party Secretary Duong Anh Duc shared that the locality is the city center, but unfortunately there are still some areas where people live in a situation of "sleeping in shifts and sharing the same toilet".

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Some residents of Ga Gao market live in cramped conditions, lacking sleeping space. Photo: Nguyen Ha

Mr. Duc said that the district government over many periods has always been concerned with renovating these areas, hoping to bring a safe life to the people.

“But 50 years have passed, these areas still exist, investors come and then leave...” - Mr. Duc said.

According to Mr. Duong Anh Duc, if an investor can be found to accompany the district and the Ga Gao market project is successful, this will be the basis for the district to renovate other areas such as Ma Lang, Ma Lo...

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District 1 Party Secretary Duong Anh Duc at the conference. Photo: Ho Van

As the first person to give his opinion, Architect Khuong Van Muoi said that it is necessary to look at the potential of Ga Gao market in the general context of the entire area.

"This is a plot of land near 29/3 Park, where underground metro station space and underground commercial area will be planned... In addition, the plot of land is adjacent to Ben Thanh market, the central axis of Ham Nghi, Le Loi, Saigon river bank... In the city, it is difficult to find an area with such potential" - Mr. Muoi affirmed.

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Architect Khuong Van Muoi gives comments at the conference. Photo: Ho Van

According to Mr. Muoi, a project with such potential will be the driving force for the development of the city center. From any point of view, the project must be implemented to change the face of the area, bringing a better life to the people.

'Requires special mechanism strong enough'

Meanwhile, a representative of Nova Real Estate Investment Group Corporation said that the unit has made initial approaches to this project.

"However, the project has not yet clearly shown the investment mechanism in what form? Resettlement on site or elsewhere? How is compensation and site clearance? How is the State involved in the project?..." - the representative commented.

The Ga Gao market land area is quite large, over 6,000m2. However, the project's criteria for density, height, land use coefficient... if built can only accommodate 600 apartments. Of which, 300 apartments are for resettlement for residents, the remaining 300 apartments can be sold commercially, which is not suitable for the potential of the area.

"According to our research, in the current stage, to successfully implement this project, there must be a special mechanism that is strong enough for investors to be able to implement it" - Nova representative emphasized.

Bitexco Group's representative commented that the current land use coefficient of 10 and maximum height of 50m makes it very difficult to implement the project.

"According to preliminary calculations, this project must have a height of 24-25 floors (80m) to be suitable for a land use coefficient of 10. The project must both meet the needs of on-site resettlement for people and meet the business needs of enterprises to be implemented" - this person proposed.

Proposal to build social housing

One of the notable proposals at the conference was from a representative of Hoang Quan Group, who said that research is needed to develop a social housing project.

"The mechanism for social housing is already available and clear. Poor and near-poor households are given priority for resettlement, and investors are allowed to commercially sell 20% of the project's apartments to offset costs. Thus, if a social housing project is implemented, it will satisfy both the investor's conditions and the residents' interests," he analyzed.

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Representative of Hoang Quan Group proposed to study policies for building social housing. Photo: Ho Van

However, this person also commented that if social housing is built, the state will not collect land use fees. Besides, this land is located in the center, building social housing is not correlated with urban aesthetics. This is a contradiction that needs a suitable solution.

On the side of the Department of Planning and Investment, the representative of this unit expressed agreement with the opinion of researching the construction of social housing and said that the Ho Chi Minh City People's Committee has considered putting this project into the "green investment" category.

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Chairman of District 1 People's Committee - Mr. Le Duc Thanh received opinions from experts and businesses. Photo: Ho Van

Receiving comments and suggestions, Chairman of District 1 People's Committee - Mr. Le Duc Thanh said that the existence of areas like Ga Gao market next to splendid buildings in the locality is something that everyone can see.

According to him, in addition to introduction, the district also wants to listen to the opinions of experts and investors to adjust the project to suit the interests of three parties: investors - people - government.

"From the comments, the district will synthesize and research to find a suitable solution for the project, and propose to the city level a strong enough mechanism and policy for effective implementation.

Authorities at all levels always want to renovate these areas to make them more spacious so that people can have a better life, worthy of being a civilized and humane city" - Mr. Thanh expressed his opinion.

According to District 1 People's Committee, Ga Gao market project has a land area of ​​6,339m2, suitable planning area is 5,949m2; maximum construction density is 50%; land use coefficient is 10; maximum height is 50m; population is 700 people.