HODECO is actively collaborating with state management agencies and local authorities to resolve ongoing bottlenecks in the implementation of the Ecotown Phu My Housing Area project (located in Phu My Ward, Phu My Town, Ba Ria – Vung Tau Province, currently Phu My Ward, Ho Chi Minh City), focusing on transport infrastructure, land procedures, and legal compliance.
On October 7, 2026, the Phu My Ward People’s Committee held a working session with heads of specialized departments and representatives of HODECO leadership to review reported difficulties and obstacles facing the project. Based on the discussions, the Ward People’s Committee agreed in principle on resolution orientations for key items, establishing a framework for continued joint execution in the coming period.
Overall perspective rendering of Ecotown Phu My Project
1. Joint Effort to Complete Transport Infrastructure and Enhance Regional Connectivity
During the session, the Phu My Ward People’s Committee agreed in principle on the investment plan for Route 11C and Route D2 adjacent to the project, with a total length of approximately 330 meters. These represent essential road segments required to connect transportation infrastructure to adjacent land parcels that have lacked access roads for many years.
Under the agreed framework in principle, the State will conduct land acquisition and allocation in accordance with statutory regulations, while the developer will fund construction costs. The development of these roads will complete local transport infrastructure, improve regional connectivity, and create favorable conditions for project execution.
2. Unblocking Land Bottlenecks to Facilitate Social Housing Development
A crucial item discussed was resolving the boundary overlap between the land allocated for CC2 Social Housing High-rise Building within the project and land currently occupied by local households.
Due to these boundary overlap issues, the construction of CC2 Social Housing has been unable to proceed. The Phu My Ward People’s Committee agreed on a course of action to execute land acquisition procedures for the affected household plots and reallocate the land for project construction pursuant to regulations.
Resolving this bottleneck serves as a vital prerequisite for finalizing legal procedures related to plot CC2, enabling HODECO to move forward with subsequent development steps for the social housing project.
3. Expediting Land Allocation Procedures for Interstitial Public Traffic Parcels
Regarding the 533.7 m² of interstitial public traffic land managed by the State inside the boundary of the Ecotown Phu My Project, the Department of Agriculture and Environment completed its review and submitted a request to the Ho Chi Minh City People’s Committee for consideration and decision on allocating the land to HODECO via Official Dispatch No. 29372/SNNMT-QLĐ dated September 8, 2026.
At the meeting on October 7, 2026, the Phu My Ward People’s Committee committed to accelerating procedures within its jurisdiction to promptly effectuate land allocation and leasing upon receiving written approval from the HCMC People’s Committee.
Following the completion of regulatory procedures, HODECO will fulfill its financial obligations and execute related administrative steps to formally receive site handover.
4. Proactive Coordination and Phased Resolution to Advance Project Progress
Previously, the Ecotown Phu My Housing Area Project was granted an official schedule extension by the Ho Chi Minh City People’s Committee under Document No. 4996/UBND-DA dated December 25, 2025 regarding project adjustments. This approval serves as the legal basis for HODECO to continue working alongside state agencies and local authorities to finalize necessary procedures and resolve outstanding issues.
In the upcoming period, HODECO will maintain close coordination with the Phu My Ward People’s Committee, municipal departments, and competent bodies to implement agreed plans, while expediting land, infrastructure, and legal procedures required for project execution.
Close cooperation between regulatory authorities and the developer plays a key role in overcoming obstacles, completing infrastructure, and finalizing legal frameworks—enabling the Ecotown Phu My Project to progress systematically in accordance with statutory regulations. HODECO will continue to update shareholders and investors on implementation milestones via the Company’s official communication channels.
