Sun Group proposes 360-ha land swap to build Rach Chiec sports complex

The Ho Chi Minh City People's Committee (UBND) has recently submitted to the City People's Council (HDND) a plan to advance the investment of the Rach Chiec National Sports Complex under the public–private partnership (PPP) model. The proposed investor is Sun Group. The project — only ever planned for over 30 years and never actually built — would, upon completion, become the city's first national-scale sports facility.

According to the submitted proposal, Sun Group has offered to deliver the roughly VND 146,000-billion project by exchanging a total of 360 hectares (ha) of land across four locations. This is rated as one of the largest sports-facility investments ever undertaken in Vietnam and is expected to transform the city's sporting landscape.

Scale and design of the Rach Chiec Sports Complex

The Rach Chiec National Sports Complex is located in An Khanh ward of Thu Duc City, with a total area exceeding 186 hectares (ha). Total investment is estimated at about VND 145,629 billion, with a project schedule of around eight years. The complex will be the largest sports cluster in Ho Chi Minh City, designed to international standards capable of hosting regional and international tournaments.

The heart of the project is a central zone combining cultural and sporting functions, where a stadium with a capacity of 65,000–75,000 seats will be built. It will be designed to FIFA standards capable of hosting international football matches. Alongside it, a multi-purpose indoor arena of roughly 18,000 seats is planned to host indoor sports such as basketball, badminton and volleyball.

BT investment model and compensation mechanism

Sun Group has proposed applying a Build–Transfer (BT) contract for the Rach Chiec project. Under this approach, Sun Group will fund 100% of the investment itself, and upon completion will hand over all facilities to the state for management and operation. This allows Ho Chi Minh City to secure large-scale sports facilities without immediate budget outlays, while compensating the investor through the use of land assets.

This compensation mechanism is implemented under city-development special regulations based on National Assembly Resolutions No. 98 and No. 260. The land-based BT compensation model is regarded as a suitable alternative at a time when the city budget has many priority investment tasks competing for resources, and is expected to maximize the use-value of land resources in strategic locations.

Under the proposal, the investor will be responsible for every step from design through construction to completion, ensuring the agreed quality and schedule. After construction is complete and the facility is handed over, the state will manage and operate the sports complex, with the aim of advancing national sports development and boosting sports tourism.

Details of the four 360-hectare compensation land parcels

Sun Group has proposed using four parcels of land totaling over 360 hectares (ha) as compensation for the project. Specifically: △23 ha of commercial-service land inside the Rach Chiec Sports Complex itself, △195 ha at the Phuoc Kien new urban area, △120 ha at the Truong Tho new urban area, and △30.2 ha in An Khanh ward of Thu Duc City. The tentative total value of these parcels is about VND 145,482 billion — equivalent to roughly 99.89% of the expected total investment.

The 23 ha of commercial-service land within Rach Chiec sits along Mai Chi Tho Avenue and is regarded as a prime site with excellent transport access. It is valued at about VND 91.7 million per m², bringing its total value to approximately VND 21,549 billion. This site will be developed as a premium commercial-service district supporting the sports complex.

Phuoc Kien new urban area — 195 ha

The land within the Phuoc Kien new urban area totals 195 hectares; of this, approximately 70 ha of residential land — per preliminary planning — is valued at about VND 66.5 million per m², the rate for the housing strip along Nguyen Huu Tho Road. The total estimated value of this zone is approximately VND 46,550 billion, the largest single share of the entire compensation-land package.

The Phuoc Kien area is rated as one of the city's high-development-potential zones, thanks to its proximity to Tan Son Nhat International Airport and the transit links to the urban core. It is one of the priority areas Ho Chi Minh City is pursuing for modern urban development.

Truong Tho new urban area and An Khanh ward

In the Truong Tho new urban area, value is applied to approximately 43.4 ha of residential land based on the commercial-service land rate of about VND 64.8 million per m² along Nguyen Van Ba Road, giving a tentative total of around VND 28,139 billion. The area is rated as well positioned for property development thanks to its strong transport and infrastructure conditions.

Meanwhile, the 30.2 ha in An Khanh ward — valued at about VND 132 million per m² (the rate for residential land along Mai Chi Tho) — is calculated at approximately VND 39,864 billion. However, an administrative conclusion linked to a government audit on this land is still pending, so legal procedures must be completed before the land can be handed over to the investor.

Planning process and significance of the project

The Rach Chiec National Sports Complex was first planned in 1994, but for more than 30 years it never moved beyond planning due to a lack of investment funding and institutional and policy constraints. The project sits at the city's eastern gateway, neighboring key transport axes such as Mai Chi Tho Avenue, the Hanoi Expressway (now Vo Nguyen Giap Avenue) and the HCMC–Long Thanh–Dau Giay Expressway.

Bringing this project forward is expected to resolve the long-running 'planning hold' problem that has persisted for decades. The earmarked site currently remains mostly vacant land with only a few temporary structures — its locational potential has not been fully tapped.

Once complete, the Rach Chiec Sports Complex will take its place as a key landmark on Vietnam's sporting map, capable of hosting regional and international tournaments. The project will also elevate Ho Chi Minh City's stature as an international sports city while spurring sports tourism and related service industries.

Beyond the sporting dimension, the project is expected to deliver a range of economic and social spillovers — including job creation, accelerated development of local transport infrastructure and rising property values in the surrounding area. With its scale and symbolism, the Rach Chiec Sports Complex is set to emerge as a new landmark for the city and contribute to realizing Ho Chi Minh City's vision of becoming a regional sports hub.

The Ho Chi Minh City People's Committee stated that it will continue to assess and meticulously review the proposed compensation land in order to fully comply with the relevant regulations and ensure a balance of interests between the state and the investor. Advancing the project under the PPP–BT model is viewed as a practical solution to ease the burden of large-scale public spending while securing a national-grade sports facility earlier.

Real estate projects open to foreign ownership that benefit from the Rach Chiec National Sports Complex

Real estate near Saigon Sports City

An Phu – South Rach Chiec area
(HCMC's second large-scale urban core after Thu Thiem)

Saigon Sports City plays a core role in sports–service–eco urban development in the South Rach Chiec area and is strongly driving up the value of nearby real estate.

Headline benefiting projects

The Global City (Masterise Homes) –
Masteri Park Place (CT5), Lumiere Midtown (CT7)
A large-scale new urban development next to Saigon Sports City — a project that benefits directly from improvements to strategic transport networks and infrastructure.

Other projects: Eaton Park, The Prive and others also sit within the positive influence zone of the sports complex's infrastructure and amenities.

Infrastructure strengths and economic impact

Strategic transport infrastructure

Direct connections to the Hanoi Expressway, Mai Chi Tho Avenue, the HCMC–Long Thanh–Dau Giay Expressway and parallel arterial roads make travel into HCMC's urban core and the eastern key economic region very easy.

High-end living infrastructure

Within a 5–10 km radius, Vincom Mega Mall, An Phu Big C, international hospitals and international schools such as BIS and AIS are densely clustered — boosting living satisfaction and investment appeal.

Long-term urban-development strategy

Saigon Sports City and the projects around it form a large-scale sports–service–eco urban cluster, attracting young, high-income residential demand and laying the groundwork for sustainable property-value uplift across the South Rach Chiec – An Phu area.