Tuan Chau Island "King" Dao Hong Tuyen has caused quite a stir by suggesting a series of mammoth real estate projects in HCMC with total investment capital of VND65 trillion.
Tuyen has suggested building a tourism resort complex - Sai Gon Marina City – in Can Gio beach with the total area of 1,430 hectares.
This would include a yacht port to connect to Singapore, Hong Kong and Thailand; ferry line and speedboat to connect to Can Gio and Vung Tau; high-speed and yachts to connect to HCMC with neighboring areas; and resorts, ecological urban areas and a seafood town.
|Tuan Chau Island "King" Dao Hong Tuyen has caused quite a stir by suggesting a series of mammoth real estate projects in HCMC with total investment capital of VND65 trillion.|
Tuan Chau has also suggested building a boulevard along Sai Go River, about 60 kilometers long, from the Nguyen Huu – Ton Duc Thang turning point to Ben Suc Bridge in Cu Chi district, and an aromatics and chemicals trade center on 20 hectares in Tan Kien ward of Binh Chanh district.
Of the estimated total investment capital of VND65 trillion, Tuan Chau Group would contribute 50 percent.
Tuan Chau’s president Dao Hong Tuyen, who is famous for daring projects, told the press that he hired five foreign consultancy firms, 25 planning experts and tens of engineers, who had to work nights for more than 10 days to implement the survey work and project planning.
Tuyen’s company has poured money into an artificial sea city in Can Gio area. He said the company has imported building materials and needs the ‘green light’ from HCMC authorities.
“The HCMC local authorities have carried out pre-feasibility study for the Sai Gon New City project in Cu Chi district,” Tuyen said.
“We are conducting geological exploration drilling, surveying the field to make compensation for site clearance and carrying out other necessary works to report to the city’s leaders about the route in District 1 - Ben Suc,” he said.
Regarding financial resources, Tuyen said that many domestic partners have committed to provide capital and construction steel.
Tuan Chau Group has set up three legal entities, each of which has charter capital of VND10 trillion, with domestic and foreign construction companies as partners, to implement the projects.
In the latest news, HCMC’s Mayor Nguyen Thanh Phong, at a meeting with representatives from city departments, said the city agreed to the building of a boulevard along Sai Gon riverside, but not the building of a new 15,000 hectare urban area by clearing Trung An commune.
An analyst commented that municipal authorities opposed the latter project because there is a pending project on the 6,000-hectare Tay Bac Cu Chi urban area, but it has been planned for years.