The Berjaya International University Urban Area Project, invested by Berjaya Vietnam International University Urban Joint Stock Company (Malaysia), was first granted an investment certificate on July 1, 2008, with an area of 880 hectares, the total investment capital at that time was 3.5 billion USD (equivalent to 56,000 billion VND).
By January 2025, the project was approved to adjust the investment policy, allowing the investor to complete the entire project and put the project into operation within 120 months (10 years), including compensation, site clearance and construction. In this adjustment, the total investment capital was increased to VND59,000 billion, an increase of VND3,000 billion compared to the license issued in 2008.
Over the past 17 years (2008- 2025), the project has been almost stalled. The main reason is the problem of site clearance and changes in land law regulations over time. Most of the project area is still vacant land, overgrown with weeds, interspersed with some old temporary houses of people that have not been relocated. The internal road system has degraded in many flooded sections, with many potholes.
According to records, there are still some households in the project area because they have not reached a compensation agreement with the investor. While waiting for relocation, people take advantage of the land to grow rice or build temporary hutes to make a living by fishing on canals surrounding the project.
According to the recent conclusion of Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc at the meeting of the Special Working Group, the Department of Planning and Architecture was assigned to urgently plan, appraise and approve the zoning plan, and at the same time instruct the investor to prepare a detailed planning project at a scale of 1/500, and submit it to competent authorities for appraisal and approval in November, to ensure implementation progress.
The Ho Chi Minh City People's Committee requested relevant departments, branches and investors to closely coordinate, focus on implementing assigned tasks, ensuring the project's groundbreaking in December. The city has identified this as a priority goal that needs to be accelerated, hoping to create a breakthrough for the Northwest of Ho Chi Minh City after nearly 20 years of the "real estate" project.
