The project is developed by Sun Vung Tau Co., a subsidiary of Sun Group. Under a decision dated Tuesday, it is scheduled to be implemented over roughly eight years from the signing of a build-transfer (BT) contract.

City authorities and the investor said they aim to accelerate land clearance and construction to shorten the overall completion timeline to about five years, citing the complex’s role as a key piece of strategic infrastructure and a new growth driver for the city's eastern area.

The Rach Chiec National Sports Complex will be developed on a total area of more than 186 hectares and is designed as a multifunctional sports and events hub capable of accommodating about 90% of Olympic sports, according to project plans.

The centrepiece of the project is a stadium covering 24 hectares, with an estimated investment of VND35 trillion ($1.33 billion) and seating capacity of up to 70,000.

The stadium will be equipped with a retractable roof system, advanced soundproofing solutions, and zoned air-conditioning that can be adjusted for different seating areas, enabling it to host major international sporting events as well as large-scale concerts and performances.

Other major components include a 10-hectare indoor arena and performance venue with seating capacity of 18,000; a multipurpose sports center with capacity ranging from 5,000 to 10,000 seats; an international-standard aquatic sports center; a tennis complex serving both professional competition and training; and a centralized high-performance training zone supported by a network of auxiliary fields and facilities.

Beyond competition and training infrastructure, the project also incorporates community sports areas, accommodation and service facilities for athletes and coaches, and dedicated sports medicine and healthcare services.

Municipal authorities said the complex is expected to strengthen HCMC’s capacity to host regional and international sporting and cultural events, while acting as a catalyst for urban development and investment in the city’s eastern growth corridor.