ABOUT PHU MY HUNG CORPORATION
“On the wild marshland, a group of people have tried their best over the past 15 years to set up the current Phu My Hung New Urban Area. Based on these sizable projects, another group of people continue to develop HoChiMinh City (HCM City) toward the East Sea”. (Lawrence S. Ting, the late Chairman of CT&D Group and Phu My Hung Corp.)
Phu My Hung Development Corporation (PMH Corp) – The Infrastructure developer of the New City Center. The company was established on May 19th, 1993 as a joint-venture between the HCM City People’s Committee (represented by the Tan Thuan Industrial Promotion Company) and Phu My Hung Asia Holdings Corporation (Formerly Central Trading & Development Group (CT&D – Taiwan))
Phu My Hung Corp. builds the 17.8 km long, 120m wide, 10-lane Nguyen Van Linh Parkway (six high-speed and four mixed lanes). As for the section through Phu My Hung New City Center, there are 14 lanes. The 18m~36m wide green land in the middle of the Parkway is reserved for metro projects and future expansion plans. This Parkway, which is newly-built across the marsh land of Nha Be County (District 7 now), District 8 and Binh Chanh County, has become the artery to transport goods from City to the Mekong Delta, and opened a new opportunity to expand HCM City southwards according to the urban project approved by the Government.
It also plays an important catalyst to propel the HCM City southern urbanization, changes a large number of farmers to become city-dwellers and the marshland into a modern city, boosting the economic development of the entire Southern areas and HCM City. In the near future, Nguyen Van Linh Parkway will connect District 7 with District 2 through Phu My Bridge, linking Eastern and Western provinces. Nguyen Van Linh Parkway was built in three stages.
Phu My Hung Corp. builds the infrastructure of 150 ha of land for community uses, and hands it over to HCM City People s’ Committee.
Phu My Hung Corp. develops five modern urban complexes (named site A, B, C, D & E) along Nguyen Van Linh Parkway. This massive project has been considered the first step in the expansion plan of HoChiMinh City towards the East Sea.
The 5 urban development sites by Phu My Hung Corp:
1. Phu My Hung New City Center (Site A – 433ha)
2. University Place (Site B – 95ha)
3. Hi-Tech Center (Site C – 46ha)
4. Merchandise Center I (Site D – 85ha)
5. Merchandise Center II (Site E – 115ha)
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THE MASTER PLAN
The New City Center (Saigon South) Master Plan presents a historic opportunity for Vietnam and HCM City to re-establish its position in the global economy while creating a modern well-planned city that can become the most desirable international business location in Southeast Asia.
On the land area of 2,600 ha situating in parallel with HCM City to the South, Phu My Hung Corp. has been permitted to develop 750ha of land to build a model city. Designed by Skidmore, Owings & Merrill (USA), the New City Center was approved by Vietnam’s Prime Minister on December 8th, 1994. In addition, the government also signed the Decision on March 3rd, 1995, to establish the Management Authority for Southern Area Development of HoChiMinh City (MASD) with a “one-stop application procedure” in the New City Center.
The New City Center (Saigon South) is the first step in the envisioned expansion of HCM City’s growing metropolis. The development of the New City Center is a key component of Vietnam’s comprehensive plans for the Southern Focal Economic Area (SFEA) that includes HCM City, Dong Nai, Ba Ria Vung Tau province. The SFEA and Phu My Hung New Urban Development are poised to become a center for international finance, trade, accommodation, entertainment, cultural, scientific, high technological and tourism development in Vietnam. This urban plan will accommodate future demands and a projected increase in population to 10 million people over the next decade.