Vice Chairman of the municipal People's Committee Nguyen Manh Cuong presented the investment proposal at a meeting of the city's People's Council on September 21.
The four projects, to be funded by the city budget, cover about 8.8 km along Pham The Hien Street.
The area has 5,807 canal-side homes, accounting for about 29 per cent of the city's target to relocate 20,000 such homes between 2025 and 2030.
City authorities said many homes in the area were small and makeshift, with inadequate sanitation, environmental conditions and safety. The projects are intended to relocate residents to better housing while improving the urban landscape along the canal.
The 8.8-km stretch would be divided into four separate projects.
A 1.2-km section from Rach Ong Bridge to Mat Bridge is estimated to cost more than VND 6.87 trillion and require about 6.13 hectares of land, with 860 properties fully cleared and 84 partially affected.
The 2.1-km section from Mat Bridge to Hiep An Bridge would cost more than VND13.6 trillion and affect 2,060 properties, including 2,042 requiring full clearance.
A 2.6-km section from Hiep An Bridge to Ba Tang Bridge is estimated at more than VND 10.6 trillion, affecting 1,434 properties, including 1,278 requiring full clearance.
The final 2.9-km section, from Ba Tang Bridge to the end of the canal's southern bank, would cost more than VND 17.9 trillion and affect 1,723 properties, including 1,627 requiring full clearance.
Besides relocating canal-side homes, the projects include construction of embankments and the widening of Pham The Hien Street to 30 metres. Lighting, parks, green spaces and sports facilities would also be developed along the canal.
The city also plans to widen Mat and Hiep An bridges, build a new Ba Tang Bridge and construct two new roads in Binh Dong Ward.
Project preparation, land clearance and resettlement are scheduled for 2026-2027, with contractor selection and construction planned for the 2028-2030 period. The projects are expected to be completed in 2031 or 2032.