HCMC's District 1 might earn $29,400 from sidewalk rentals

By Gia Minh   May 28, 2024 | 08:44 pm PT
HCMC's District 1 might earn $29,400 from sidewalk rentals
A pedestrian on the sidewalk of Hai Trieu Street, District 1, HCMC, one of the streets subjected to the sidewalk renting pilot program, May 2024. Photo by VnExpress/Gia Minh
Three weeks after HCMC started a pilot program to lease out sidewalks to businesses, downtown District 1 expects to earn nearly VND750 million (US$29,400).

Some 200 business households have registered to use parts of sidewalks on 11 streets.

District authorities have already collected VND250 million and businesses have registered to use more sidewalk areas for VND500 million, which will be collected later.

Ben Thanh Ward has the highest number of registrations at 126.

This is followed by Da Kao, Cau Ong Lanh, Nguyen Cu Trinh, Ben Nghe, and Co Giang.

Among streets, Le Thanh Ton Street accounts for the largest number, 71, followed by Phan Boi Chau, 34, Phan Chu Trinh, 23, and Tran Hung Dao, 21.

District 1 is the first locality to trial the lease of sidewalks.

The rented portions are all outside private houses. Businesses can use the portion closest to the building, motorbikes have to be parked closest to the street and the middle part will be for pedestrians, and must be at least 1.5 m wide.

Registration is online.

To start with, only house owners and tenants will be allowed to lease.

The trial is expected to last until September, after which an evaluation will be made and more streets will be brought into the scheme.

Rents for parking are VND50,000-350,000 per square meter a month, and for other purposes, VND20,000-100,000.

To be leased a sidewalk has to be at least 3 m in width.

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