A corner of HCM City. — Photo skyscrapercity.com

HCM CITY (Biz Hub) — Ho Chi Minh City People's Committee has approved three residential projects proposed by local investors and valued at more than VND3.2 trillion (US$142 million).

The most expensive proposal is the six-year residential project, to be developed by Tien Phuoc Real Estate Joint Stock Company at a cost of $107 million. The project, located in Binh Chanh district of South Urban Area, will be built from 2015 to 2020.

The other projects to receive approval are Dang Thanh condominium and Building C & D of the Residential Condominiums and Commercial Complex, with total investment capital expected to reach $13 million and $22 million, respectively.

Dang Thanh expects to open in 2016 and Building C & D in 2018. Both projects are located in districts within the HCM central urban area. — VNS