Ga-Gao Market urban renewal compensation draft released

The Ben Thanh Ward People's Committee in Ho Chi Minh City has released a draft compensation, support, and resettlement plan for the urban renewal project of the Ga-Gao Market area. The total estimated cost for compensation and support exceeds 1.39 trillion VND.

Proposed compensation rates vary significantly based on location and land type. The highest rate is approximately 609.7 million VND/m2 for urban residential land in position 1 adjacent to Yersin Street. Commercial and service land in the same location is projected at approximately 426.8 million VND/m2. Other areas, such as Nguyen Thai Hoc Street and Vo Van Kiet Street, have proposed rates of nearly 422 million VND/m2 and over 389 million VND/m2, respectively. The lowest rates are expected to be around 45.3 million VND/m2.

Specific compensation for individuals will be determined based on legal documents, land origin, and current status surveys. The project, which involves the recovery of approximately 4,350 m2 of land, is being implemented by Khang Dien House Investment and Business JSC under a build-transfer contract. For resettlement, approximately 249 eligible cases are expected to be provided with apartments in social housing or low-rise housing projects.