Description

21st Century International Development Company, Ltd. (the Company) hold a 50-year lease on a 61.74 hectas of prime land at Giong Ong To area of Ho Chi Minh City, Vietnam. In addition, the Company has a right to renew the lease.

The riverside property belongs to District 2 and located on the east side of Saigon River opposite from Saigon Port (District 7) and a short distance from Ho Chi Minh City’s Central District 1. District 2 Central District is planned to be adjacent to The Company’s land.

According to Ho Chi Minh City’s 20-year plan, as the population & commercial activities continue to grow into the city’s current limited real estate, it is necessary to expand the city limit outward to newly established districts such as District 2. District 2 will greatly benefit from such population & economic growth because of its close proximity to Ho Chi Minh City’s Central District 1, its accessibility to current and future major highways, its availibility of undeveloped land, and its established infrastructure.

The 20-year plan also calls for District 2 as a new alternative central site for city administration, cultural exhibits, financial services, and commercial services. In addition, the plan emphasizes on quality housing & landscape, environmental protection, sports, entertainment, and high technology.

Accessibility

The property can be reached from the west by 2 bridges connecting Ho Chi Minh City Central District 1 and District 2, from the north by Hanoi Highway, and other access roads.

In addition, several major constructions have already started to complement District 2 such as the East-West highway, Thu Thiem tunnel, the Hanoi Highway extension, residential housing for relocated families, etc…

Japan International Co-operation Bank (JICB) & ODA have agreed to provide loans to build a 21.4 Km-long East-West highway to link Highway 1 to Chuong Duong Wharf in District 1 (across the river from District 2) and the Thu Thiem Tunnel to be built under the Saigon River and join up with the Hanoi Highway in District 2.

The first section will be 13.6 km long and six lanes wide, running from Binh Chanh District on National Highway 1 to Thu Thiem Tunnel or the drawbridge in District 1. The tunnel will be 1.9 km-long and have entrances at Calmette Bridge and Ong Cay Bridge. Pedestrians and bicycles will be prohibited in the six-lane tunnel. The 5.9 km-long third section will link Thu Thiem Tunnel to Hanoi Highway on District 2. Under the same East-West highway, the city also plans to upgrade five bridges that will enhance the economical benefits of District 2.