Sun Group proposes a land swap of 360 hectares in exchange for constructing the Rach Chiec Sports Complex.

The Ho Chi Minh City People’s Committee (UBND) has recently submitted to the City People’s Council (HĐND) a proposal to implement the investment framework for the Rach Chiec National Integrated Sports Complex under the Public–Private Partnership (PPP) model. The proposed investor is Sun Group.
This project has remained at the planning stage for more than 30 years without actual implementation. Upon completion, it is expected to become Ho Chi Minh City’s first national-scale sports facility.

According to the submitted proposal, Sun Group has proposed to carry out a project valued at approximately VND 146 trillion through a land-swap mechanism involving a total of 360 hectares across four different areas. The project is regarded as one of the largest sports infrastructure investments ever undertaken in Vietnam and is expected to significantly transform the city’s sports landscape.

Scale and Design of the Rach Chiec Integrated Sports Complex

The Rach Chiec National Integrated Sports Complex is located in An Khanh Ward, Thu Duc City, with a total area exceeding 186 hectares. The total estimated investment capital is approximately VND 145.629 trillion, and the project implementation period is planned to be around eight years.
Once completed, it will become the largest sports complex in Ho Chi Minh City, designed to international standards to accommodate both regional and international sporting events.

The core of the project is a central zone integrating cultural and sports functions, featuring a main stadium with a seating capacity of 65,000–75,000 spectators. This stadium will be designed to meet FIFA standards for hosting international football matches.
In addition, the complex will include a multi-purpose indoor arena with approximately 18,000 seats, capable of hosting indoor sports such as basketball, badminton, and volleyball.

BT Investment Model and Compensation Mechanism

Sun Group has proposed applying a Build–Transfer (BT) contract model to the Rach Chiec project. Under this arrangement, Sun Group will fully finance 100% of the investment capital, and upon completion, all facilities will be handed over to the State for management and operation.
This model enables Ho Chi Minh City to develop a large-scale sports complex without immediate budget expenditure, while allowing the investor to recover investment costs through land assets.

This compensation mechanism is implemented based on the special urban development provisions stipulated in National Assembly Resolutions No. 98 and No. 260. The land-based compensation BT model is considered a suitable solution in the current context, where the city faces multiple budgetary priorities, and is expected to maximize the utilization value of strategically located land resources.

According to the proposal, the investor will be responsible for the entire project lifecycle, from design and construction to completion, while ensuring the committed quality standards and construction schedule. Upon completion and handover, the State will assume responsibility for the management and operation of the integrated sports complex, utilizing it to promote national sports development and sports tourism.

Details of the Four Compensation Land Parcels (Totaling 360 Hectares)

Sun Group has proposed using four land parcels with a combined area exceeding 360 hectares as compensation for the project. These include:

• 23 hectares of commercial and service land within the Rach Chiec Integrated Sports Complex,
• 195 hectares in the Phuoc Kien New Urban Area,
• 120 hectares in the Truong Tho New Urban Area, and
• 30.2 hectares of land in An Khanh Ward, Thu Duc City.

The provisional total value of these land parcels is estimated at approximately VND 145.482 trillion, equivalent to about 99.89% of the projected total investment capital.

The 23-hectare commercial and service land parcel within the Rach Chiec area is located along Mai Chi Tho Boulevard, a prime location with excellent transport connectivity. Valued at approximately VND 91.7 million per square meter, this parcel has an estimated total value of VND 21.549 trillion. It is planned to be developed into a high-end commercial and service zone supporting the integrated sports complex.

Phuoc Kien New Urban Area – 195 Hectares

The land in the Phuoc Kien New Urban Area covers a total of 195 hectares, of which approximately 70 hectares of residential land are valued based on the provisional plan, using the residential land price along Nguyen Huu Tho Road at around VND 66.5 million per square meter. The estimated total value of this area is approximately VND 46.55 trillion, making it the largest component of the compensation land package.

The Phuoc Kien area is considered to have strong development potential, owing to its proximity to Tan Son Nhat International Airport and its connectivity to the city center. It is also one of Ho Chi Minh City’s priority zones for modern urban development.

Truong Tho New Urban Area and An Khanh Ward

In the Truong Tho New Urban Area, land equivalent to approximately 43.4 hectares of residential land value is applied, based on the commercial and service land price along Nguyen Van Ba Road at approximately VND 64.8 million per square meter, resulting in a provisional valuation of VND 28.139 trillion. This area benefits from favorable transport and infrastructure conditions, making it attractive for real estate development.

Meanwhile, the 30.2-hectare land parcel in An Khanh Ward is valued using the residential land price along Mai Chi Tho Boulevard at approximately VND 132 million per square meter, with an estimated value of VND 39.864 trillion. However, this land parcel is currently subject to pending administrative conclusions related to government audit results, and therefore legal procedures must be fully completed before the land can be handed over to the investor.

Planning Process and Significance of the Project

The Rach Chiec National Integrated Sports Complex was first proposed in 1994, but due to a lack of investment capital and institutional and policy constraints, it has remained unimplemented for more than 30 years. The project is located at the eastern gateway of the city, adjacent to major transportation corridors such as Mai Chi Tho Boulevard, the Hanoi Highway (now Vo Nguyen Giap Boulevard), and the Ho Chi Minh City – Long Thanh – Dau Giay Expressway.

The implementation of this project is expected to resolve the long-standing issue of delayed urban planning execution (“planning suspension”) that has persisted for decades. At present, most of the designated site remains vacant land, with only a few temporary structures, meaning that its strategic locational potential has yet to be fully utilized.

Upon completion, the Rach Chiec Integrated Sports Complex is expected to become a key hub on Vietnam’s sports map, capable of hosting regional and international sporting events. The project is also anticipated to enhance Ho Chi Minh City’s status as an international sports city, while promoting the development of sports tourism and related service industries.

Beyond its sporting value, the project is projected to generate broad economic and social spillover effects, including job creation, acceleration of transport infrastructure development, and increases in surrounding real estate values. With its scale and symbolic significance, the Rach Chiec Integrated Sports Complex is expected to emerge as a new urban landmark, contributing to the realization of the city’s vision to position Ho Chi Minh City as a regional sports center.

The Ho Chi Minh City People’s Committee has stated that it will continue to conduct thorough evaluations and careful reviews of the proposed land parcels to ensure strict compliance with relevant laws and regulations, while maintaining a balanced distribution of interests between the State and the investor. The implementation of the project under the PPP–BT model is widely regarded as a practical solution that reduces the burden on public finances while enabling the early development of national-level sports infrastructure.
 

Projects Benefiting from the Rach Chiec National Sports Complex Available for Foreign Ownership

Real Estate Around Saigon Sports City

An Phu – South Rach Chiec Area
(The second-largest urban center of Ho Chi Minh City after Thu Thiem)

Saigon Sports City serves as the core catalyst in the development of a sports–services–green urban zone in South Rach Chiec, creating a strong upward momentum for surrounding real estate values.

Key Beneficiary Projects

• The Global City (Masterise Homes) – Masteri Park Place (CT5), Lumière MidTown (CT7)
  A new large-scale urban township near Saigon Sports City, benefiting significantly from upgraded infrastructure and strategic transportation corridors.
• Other projects such as Eaton Park, The Privé, etc., are also located within the zone of positive impact from the sports complex’s infrastructure and amenities.

Infrastructure Advantages & Economic Impact

Strategic Transportation Infrastructure

The area has direct connections to Hanoi Highway, Mai Chi Tho Boulevard, and the Ho Chi Minh City – Long Thanh – Dau Giay Expressway, along with parallel arterial roads, enabling fast access to downtown Ho Chi Minh City and key eastern economic zones.

Premium Lifestyle Amenities

Within a 5–10 km radius, the area features Vincom Mega Mall, Big C An Phu, international hospitals, and international schools such as BIS and AIS, enhancing livability and investment appeal.

Long-Term Urban Planning

Saigon Sports City and surrounding developments are forming a large-scale sports–services–green urban cluster, attracting young, high-income residents and establishing a solid foundation for sustainable property value appreciation in the South Rach Chiec – An Phu area.