Compensation work has completed 99.95 percent and site clearance reached 98.33 percent.

153 cases have not yet handed over the ground with total area of 12 hectares. Of these, 143 are properties of households and individuals and ten belong to organizations.

District 2 has resettled 3,606 households and now continues to relocate other 784 households.

Construction of 1,993 apartments is stepped up to relocate the remaining households in June this year, as per instruction of the city People’s Committee.

Work on four main roads including an arc avenue, a lakeside road, a Saigon Riverside road and a 12 km flyover has begun since February 15. Construction is scheduled to complete in 36 months.

The arc avenue will be prior to connect traffic and technical infrastructures with projects which investors are implementing in the new urban area.

Paper works have been finished for projects to build technical infrastructures in the northern residential area, dredge canals and lakes.

Some projects have had investors like a commercial service and housing complex in the center area, a four hectare residential area in the north and an observatory tower, which the city People’s Committee asked investor to begin building in June next year.
 
The city authorities have ordered agencies to continue study of measures to attract investors to the Thu Thiem New Urban Area, which is considered as one of the city’s major works in the 21st century.

The modified land law which will take effect from July 1 is expected to bring more investors to Thu Thiem.

However the progress to attract investors to build member projects in the new urban area is still slow due to economic crisis.

20 years have passed since the year the Prime Minister approved the Thu Thiem New Urban Area planning.

(Source: SGGP)