Vietnamese conglomerate FLC has proposed developing a 1,200-hectare urban area complex project at a cost of about US$3.5 billion in Binh Chanh District, Ho Chi Minh City.

An official in Binh Chanh District told Tuoi Tre (Youth) newspaper on Wednesday that the district’s Party Committee had held a meeting with FLC Group to review a report on the investment project.

With a planned cost of about VND80 trillion ($3.5 billion), the project will cover nearly 1,200 hectares in Binh Chanh District’s Tan Nhut and Binh Loi Communes, roughly 10 kilometers from downtown Ho Chi Minh City and 15 kilometers from Tan Son Nhat International Airport.

The project will consist of five areas, including an ecological urban area; an urban area for creativity, science, and technology; a resort and entertainment area; a service area; an area for resettlement and social housing; and the existing residential area.

Up to 75 percent of the project area will be green space.

The highlight will be a 99-story tower located at the core of the project, which is expected to become a new iconic building in the western part of Ho Chi Minh City.

The urban area complex will house high-class theme parks, central parks, lakes, resorts, a golf academy, health care centers, shopping malls, and international schools.

The implementation of the project will be a long process, according to the Binh Chanh District official.

The municipal People's Committee has assigned the Department of Planning and Investment, Department of Planning and Architecture, as well as the Binh Chanh District administration, to work with the developer to ensure the project is carried out in accordance with regulations, the official added.

“After the meeting, the developer will come up with a design and submit a dossier to Binh Chanh District authorities and related departments for further assessment so that a detailed report can be sent to the municipal administration,” the official said

The Binh Chanh District Party Committee is determined to transform Binh Chanh from a suburban district into a city under the administration of Ho Chi Minh City.

The committee has been calling for investors to help change the face of the locale, the official shared.

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