A new urban area project in Go Vap district in HCM City (Photo courtesy of the project developer) HCM City (VNS/VNA) – Property experts have urged Ho Chi Minh City to issue a special policy on new urban residential complexes to prevent the rampant and unsustainable development of residential projects. The policy should address site clearance and the issuance of construction licences, they said. More than 20 years ago, Phu My Hung became the first model of a New Urban Zone in the city. Located in District 7, it covers more than 300ha, including condos, houses, villas, shopping malls, schools and hospitals. Since then, Phu My Hung has been one of the city’s most celebrated new urban areas. The residential complex is known as one of the most exclusive residential and commercial zones in the city and the entire country. More than 30,000 people live and work in the area, half of whom are foreigners. After the success story of Phu My Hung, HCM City continued to develop other new projects such as the Sala new urban residential complex in District 2 and Him Lam in District 7. In the city’s eastern part, the Van Phuc city new urban residential complex was developed in Thu Duc district. Covering 198ha, Van Phuc city includes villas, houses,… Read full this story
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