The above information was announced by Mr. Nguyen Phuoc Thanh - Deputy Head of the Economic, Infrastructure and Urban Affairs Department of District 1 at the press conference on the afternoon of April 3.
Ga Market, Gao Market located in Cau Ong Lanh Ward, surrounded by Nguyen Thai Hoc, Vo Van Kiet and Yersin Streets, is a traditional market that has existed since before 1975. The stalls and markets are connected, the walkway is only about one meter wide, serving both business and being a place for people to live.
Over time, this area has seriously degraded, become less humid, lacking fire safety, and has had fires, including a major fire at the end of 2015 that damaged 13 houses.
Many households have to use shared toilets, have small living spaces, and members have to take turns sleeping together.
Therefore, District 1 is planning to invest in renovating this area to improve the quality of life and improve the urban appearance.
According to Mr. Thanh, District 1 has long set a goal of finding investors for the Ga Market and Gao Market projects. However, despite organizing conferences to introduce investment opportunities to real estate businesses, the results have not been as expected.
Therefore, the People's Committee of District 1 has reviewed the current situation and proposed 3 feasible options to implement the project, based on practical factors and planning conditions.
Option 1, developing a residential area combined with commercial, service and office areas, with a land use coefficient of 15 and a maximum construction height of 120 m.
According to the assessment, this option has many advantages, such as connecting convenient transportation with the southern economic regions, creating a modern commercial center, while enhancing the value of the landscape along the west bank of the Saigon River.
Option 2, District 1 proposes to renovate the Ga and Gao markets, while building a commercial center combined with a traditional market.
This is an option that can be implemented faster and more easily, bringing immediate benefits to the community when preserving the traditional market space.
However, the limitation of this option is that the urban renovation efficiency is not high, and it will be necessary to arrange temporary housing for households during the construction process.
Option 3, focusing on expanding the traditional market to improve the appearance of the area and create more trading space. This is also a feasible solution in solving the problem of lack of space in current market areas.
However, this option requires the approval of the Ho Chi Minh City People's Committee and the Department of Industry and Trade and must be approved by the Ho Chi Minh City People's Council. In addition, Ho Chi Minh City needs to prepare social housing funds for resettlement for affected people.
After analyzing and comparing the options, District 1 People's Committee determined that option 1 was the most reasonable, with strong development potential in both economy and landscape.
District 1 has proposed that the Ho Chi Minh City People's Committee assign departments and branches to guide the mechanism for project implementation according to the state's land recovery method, helping to speed up progress and ensure the rights of the people.
