On December 09, The Standing Committee of the National Assembly approved the establishment of Thu Duc City under Ho Chi Minh City (HCMC), on the basis of merging districts 2, 9, Thu Duc, with a total area of more than 211km2 and about one million people.
The new city is expected to contribute to HCMC's GDP and Vietnam's GDP at 30% and 7% respectively. Regarded as the economic hub of the Southeast region, yet the road networks in the area still cannot keep pace with the actual demand of transport and mobility (meeting only 30% of the demand). HCMC government is speeding up projects to help facilitate the development of Thu Duc City, in the hope of upgrading the city's road network status in the years to come.
There are 8 transport megaprojects that will create huge socio-economic impacts for Thu Duc City, including the First Metro Line, Ring Road 2, Ring Road 3, Hanoi Highway expansion, My Thuy Intersection, An Phu Intersection, Thu Thiem Bridge 2, and the New Eastern Bus Station.
1. Metro Line 1 (Ben Thanh - Suoi Tien)
The city's first metro line is the 19.7-km Ben Thanh - Suoi Tien route, running through Thu Duc City - along the Hanoi Highway.
The metro has 14 stations (3 underground and 11 elevated) in total, costing VND 43.7 trillion (US$1.89 billion).
Construction of the project began in 2012 with more than 78% completed now. The city hopes to complete 85% this year and begin commercial operations by the end of 2021.
Once the metro line begins operations, it is expected to carry a large number of passengers from Thu Duc City and the neighboring provinces of Binh Duong and Dong Nai to the city center.
2. Ring Road 2
The Ring Road 2 runs for more than 64 km with 3 sections passing through districts 9 and Thu Duc.
Under this project, the construction of a 3-km long section from Pham Van Dong Street to the Go Dua intersection in Thu Duc District is underway. This section will have a total investment of more than VND2.5 trillion (US$108 million).
On two other 6-km sections of the ring road – from Phu Huu Bridge to Hanoi Highway, and from the Binh Thai Intersection to Pham Van Dong Street, constructions are speeding up. This subproject will have a total investment of VND14.6 trillion (US$631.5 million).
When finished, the sections will ease traffic pressure and increase the capacity of goods transportation at major ports such as Phu Tho port (Thu Duc), Long Binh port (District 9) and connect HCMC - Long Thanh - Dau Giay expressway.
3. Ring Road 3
The HCMC's Ring Road 3 project has a total length of 89.3 km that runs through the southern metropolis and the southern provinces of Dong Nai, Binh Duong and Long An.
The project is divided into 4 sections, in which 2 sections will run through Thu Duc City:
Tan Van - Nhon Trach Section is 18km long, expected to begin construction in Q4/2021 with a total investment of over VND 9 trillion (US$389 million).
Another section of over 15km long will have an investment of VND 6.7 trillion (US$289.8 billion).
These sections, when completed, will contribute to the economic and social development of Ho Chi Minh City and the Southern Key Economic Region.
4. Hanoi Highway expansion
A project to expand the Hanoi Highway, which began in 2010 with a total investment of over VND4.9 trillion (US$212 million), is now 80% complete.
The expansion is 15.7 km long, with 12 - 16 lanes for different types of vehicles.
The route plays a crucial role in connecting Thu Duc City with downtown HCMC and the industrial provinces of Dong Nai and Binh Duong. When finished, the project is expected to increase the capacity of goods transportation through local ports and connect with both the first metro line, the New Eastern Bus Station, and other Ring Roads.
5. My Thuy Intersection
The project started in 2016, with a total investment of VND 2.2 trillion (US$95.2 million), and has completed 45% of the whole progress.
The project connects the intersection of Ring Road 2, Nguyen Thi Dinh and Dong Van Cong streets in District 2.
When finished, the intersection is expected to help ease congestion outside the Cat Lai Port, the largest port in Vietnam, and increase traffic connectivity between districts 2, 7 and 9 and the HCMC - Long Thanh - Dau Giay Expressway.
6. An Phu Intersection
Three kilometers from the My Thuy Intersection is the An Phu Intersection in District 2, where authorities have proposed to build a two-way tunnel with a first phase investment of VND1.04 trillion (US$45 million).
On completion, the An Phu Intersection, together with the expansion of HCMC - Long Thanh - Dau Giay Expressway will help ease congestion and increase connectivity between HCMC to Dong Nai, Ba Ria - Vung Tau and other South East provinces.
The construction of An Phu Intersection has not been implemented.
7. Thu Thiem Bridge 2
Thu Thiem Bridge 2 is considered an important connection between Ho Chi Minh City center and Thu Thiem New Urban Area (District 2), passing through Saigon river.
The bridge will start at the intersection between Ton Duc Thang and Le Duan streets before crossing the Saigon River and ending at Thu Thiem's new Crescent Boulevard.
Built under the build-transfer model with a total investment of nearly VND3.1 trillion (US$134 million), the bridge will be nearly 1.5-kilometer (0.93-mile) long with 6 lanes.
The project is now 70% complete, but it is being delayed because nearly 13,000 m2 of land in District 1 has not yet been handed over.
8. The New Eastern Bus Station
The new Eastern Bus Station covering 16 ha (40 acres) in District 9 and nearby Binh Duong Province was put into operation on October 10.
Construction of the bus station, which started in April 2017, is budgeted at VND4 trillion (US$173 million), with the first phase costing VND740 billion (US$32 million).
The station has 22 fixed routes from HCMC to Quang Tri and to other Northern provinces.
So far, this is the largest bus station in the country, having the capacity to serve 7 million passengers annually.
Under the implementation of all these projects, Thu Duc City is transforming to a smart city with more organized networks of transportation and infrastructure. Proud of our extensive expertise in the property market in Thu Duc area, Broad Avenue promises to be your most reliable partner in advising business opportunities and mapping out strategies to maximize your profits. Contact us today to not miss out any crucial information.
