HCM CITY — As many as 125 households and organisations in downtown HCM City must move to make way for the construction of the Ben Thanh Towers project, which begins in October.
The US$300 million project is developed by Bitexco Group on the Ben Thanh Quadrangle, an 8,600-square-metre area bordered by the streets of Le Thi Hong Gam, Calmette, Pham Ngu Lao and Pho Duc Chinh in District 1's Nguyen Thai Binh Ward.
Le Quoc Cuong, head of the district's board for compensation and site clearance, said the board would inform the affected households and organisations about land clearance and compensation prices, and collect their opinions next week.
The board will apply compensation rates that were approved by the municipal People's Committee in November 2008.
The compensation price for land on Pham Ngu Lao Street is the highest, at VND165.7 million (US$8,720) per sq.m, followed by land on Pho Duc Chinh Street at VND156.9 million per square metre.
The front-street land on Le Thi Hong Gam and Calmette streets has compensation prices of VND147.8 million and VND147.2 million per sq.m, respectively, while land on the two streets' alleys is valued at VND50million-VND50.5 million.
Compensation prices for apartments acquired by the project range from VND61-73 million per square metre. — VNS
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