HCM City seeks capital for Rach Chiec sports complex
Hoa Lu Stadium, which is located at a prime site at the corner of Nguyen Thi Minh Khai and Dinh Tien Hoang Street in District 1, is among nine land lots the HCM City Department of Culture, Sports and Tourism has suggested for sale to arrange capital for the sports complex.
Planning for the 158-hectare project was approved over a decade ago but it has been stalled due to the lack of capital for compensation, site clearance and construction. The city calculates that it needs around VND4.7 trillion to compensate and facilitate resettlement for 450 households affected by the project.
Nguyen Hung, deputy director of the department, told the Daily via telephone that the department has been appointed to seek capital sources for the project. Hoa Lu Stadium is among the proposals of the department while the city government will make the final decision of any sale.
The suggestion follows the move of Danang City’s government, who sold Chi Lang Stadium to build Danang Sports Complex on the total area of 120 hectares.
However, investors have to follow the city’s zoning plan if they are using the land lot of Hoa Lu Stadium. They are not allowed to build anything they desire, Hung added.
The department is setting up a plan to transfer the current activities of the stadium to another venue if the land lot is sold. However, the selling process is expected to last for several years.
