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Long An seeks private funding for mega-urban area development

VIETNAM, February 14 -  

LONG AN — Long An Province is seeking at least VNĐ11.1 trillion (US$457 million) of private funding for a large urban area project through a public-private partnership (PPP).

Costing over $3 billion to build, the Tân Mỹ ecological urban area will cover over 930ha and have a population of 81,000, according to the provincial Department of Planning and Investment.

The development includes around 7,300 apartment units, over 13,000 townhouses and villas, and 7,000 social housing units. There will also be nearly 400 resettlement houses.

An implementation schedule of seven years has been set for the project, and the deadline for submitting project registration applications is no latter than March 15.

The Cửu Long (Mekong) Delta province’s People’s Committee has approved the planning for the urban area, dividing it into three main functional zones.

Zone A, located at the southern gateway, will focus on high-density urban areas and will house modern service and public infrastructure complexes, green parks, and residential areas.

Zone B, in the central area, will concentrate on a low-density ecological urban model, primarily consisting of villas and garden houses.

Zone C, located in the southeast area, will be an important economic area, due to its strategic position within Việt Nam’s southern key economic region.

Long An has seen rapid urban and real estate development over the years and has attracted large investors.

With 18 industrial parks currently operational, the province is striving to maintain its leading position in the delta region’s economic development.

Last year, it attracted more than 1,200 foreign direct investment (FDI) projects worth $11 billion, making it among the top FDI attractors in Việt Nam

Real estate giants such as Vinhomes, Nam Long, and Becamex have recently set their eyes on the province. — VNS