On February 6, the Ho Chi Minh City People's Council passed a resolution repealing Resolution No. 452/NQ-HĐND dated November 14, 2025 on the list of land plots for bidding to select investors for land-using projects in 2025 (phase 2).
The abolition of this resolution aims to create a legal basis for implementing the Binh Quoi - Thanh Da New Urban Area Project according to the special mechanism of the National Assembly.
The Ho Chi Minh City People's Council assigned the Ho Chi Minh City People's Committee to be responsible for organizing the project implementation in accordance with Resolution No. 98 and Resolution No. 260 of the National Assembly on piloting a number of specific mechanisms and policies for Ho Chi Minh City development.
According to the Ho Chi Minh City People's Committee, Resolution No. 260 has amended and supplemented a number of articles of Resolution No. 98, which stipulates the selection of strategic investors for projects in key urban development areas with an investment capital scale of 50,000 billion VND or more.
The Binh Quoi - Thanh Da New Urban Area project fully meets these conditions. The project has a scale of about 423.61 ha, with a total estimated investment of over 98,000 billion VND.
To effectively implement Resolution No. 260, dated January 13, 2026, the Chairman of the Ho Chi Minh City People's Committee directed the organization of selecting investors to implement the project according to a special mechanism.
By January 16, 2026, the Ho Chi Minh City Department of Finance will receive proposals from a joint venture of investors including Sun Group Joint Stock Company, Ha Long Sun Co., Ltd. and Sun City Co., Ltd.
This consortium proposed to implement the Binh Quoi - Thanh Da New Urban Area Project in the form of considering and approving strategic investors according to the provisions of Resolution No. 98 and Resolution No. 260 of the National Assembly.
Within 7 days from January 16, 2026, the Department of Finance will not receive any other proposal dossiers.
According to the Department of Finance, based on the number of valid proposals within the prescribed time limit, the selection of strategic investors to implement the Binh Quoi - Thanh Da New Urban Area Project is carried out in the form of "approving investment policy and simultaneously approving investors", as stipulated in point a, clause 7, Article 7 of Resolution No. 98 (amended and supplemented by Resolution No. 260). The authority to resolve is under the Ho Chi Minh City People's Committee according to the provisions of the Investment Law 2020.
On January 30, 2026, the Standing Committee of the Party Committee of Ho Chi Minh City People's Committee issued Official Dispatch No. 1015-TTr/DU submitting to the Standing Committee of the Ho Chi Minh City Party Committee on the policy of organizing the selection of investors to implement the Binh Quoi - Thanh Da New Urban Area Project, in which it agreed to propose approving the joint venture of investors including Sun Group Joint Stock Company, Ha Long Sun Co., Ltd. and Sun City Co., Ltd. as strategic investors.
On February 4, 2026, the Standing Committee of the Ho Chi Minh City Party Committee issued Conclusion No. 284-KL/TU, unanimously determining that the Binh Quoi - Thanh Da New Urban Area Project is a strategic project and approving the form of investor selection according to a special mechanism, not organizing bidding according to normal regulations.
Binh Quoi - Thanh Da peninsula is located about 6.5 km from the center of Ho Chi Minh City, surrounded by the Saigon River and Thanh Da canal, is a rare large-scale vacant land fund remaining near the center, favorable for eco-urban development.
However, the project was approved in 1992 but for many years fell into a "suspended project" situation due to large investment capital, site clearance problems and many changes of investors, causing delays in implementation for more than 30 years.
According to the 1/2000 scale zoning plan, Binh Quoi - Thanh Da New Urban Area is oriented to become a urban center combined with a flooded park, developed according to a modern tourism urban model, synchronous technical infrastructure and social infrastructure. The expected population scale is about 54,000 people.
The entire population of Ward 28, formerly, with more than 16,000 people, will have to be relocated to implement the project but will be resettled on the spot, mainly at Unit No. 1 along the existing Binh Quoi road.
