HCMC – EPS Group from the United Arab Emirates (UAE) has proposed a plan to build a smart car park under the build-operate-transfer (BOT) format in HCMC with a total investment of US$500 million.
Rustam Ibragimov, a representative of the Dubai group, told the Daily about the plan on the sidelines of a meeting between leaders of UAE businesses and the city government on May 25.
EPS has invested in parking lots in 19 countries worldwide. Ibragimov said if EPS gets approval from the city government,
it will consider building a system of parking, traffic surveillance and control and vehicle maintenance facilities.
HCMC chairman Le Hoang Quan said the city is calling for investment in infrastructure projects such as tourism properties, multi-storey and underground car parks, tramways and metro lines.
At present, public transportation meets only 15% of commuter demand. The city expects to raise the ratio to 25-30% in the future by calling for investment in the infrastructure projects, Quan said.
Sultan Ali Rashed Lootah, who is managing partner at Vault Investments and represents the UAE business group, said UAE firms are interested in building a smart city in HCMC with a total investment of around US$200 million.
Investors will study the possibility of developing a project with a complex of high-class hotels and offices if the city can allocate land to this project.
Quan said he will assign relevant agencies to work with the investors over the project. However, the city currently has no cleared land in the central area for the smart city project but may have some locations outside the central business districts.
Companies from 80 countries and territories have invested in 5,800 projects in HCMC with combined registered capital of around US$398 billion. Foreign firms have set up 2,600 offices in the city.
