The Ho Chi Minh City People’s Committee has just proposed that the Ministry of Justice and Construction provide clear guidance on issues related to the subdivision and sale of land with technical infrastructure at projects in communes, towns and districts.

In this proposal, the Ho Chi Minh City People’s Committee said that according to the provisions of the Law on Real Estate Business 2023 (effective from August 1), land with technical infrastructure in real estate projects that are allowed to be transferred to individuals for self-construction of houses (abbreviated as subdivision and sale of land) must be land not located in wards, districts, or cities of special, type I, type II, and type III urban areas.

In addition, that land is not subject to auction of land use rights for investment in housing construction projects according to the provisions of the Land Law.

 Part of real estate in Nha Be district, August 2022. Photo: Quynh Tran

For the remaining areas, based on local conditions, the Provincial People’s Committee will determine the areas where projects can be established in the form of dividing land into plots and selling them to individuals to build their own houses.

According to the Ho Chi Minh City People’s Committee, the city is now a special urban area, including all districts and affiliated counties. Based on the provisions of the Law on Real Estate Business 2023, wards, districts, and cities in Ho Chi Minh City will not be allowed to establish real estate projects to divide land into plots for sale. However, whether the remaining communes, towns, and districts of Ho Chi Minh City are considered “remaining areas” under the decision-making authority of the City People’s Committee or not.

On that basis, the Ho Chi Minh City People’s Committee proposed that the Ministry of Justice and Construction provide clear instructions for the city to comply with the provisions of the 2023 Law on Real Estate Business.

Administratively, Ho Chi Minh City currently has 22 districts and one city. Of which, there are 5 suburban districts: Binh Chanh, Nha Be, Hoc Mon, Cu Chi and Can Gio with 5 towns and 58 communes. This is still considered the “rural” area of ​​Ho Chi Minh City.

Previously, according to the provisions of the 2014 Law on Real Estate Business, investors in housing construction projects for sale were allowed to transfer land use rights in the form of dividing plots and selling land in areas not located in wards of special-class urban areas and centrally-run type I urban areas.

Accordingly, cases where land plots are not allowed to be divided into very narrow areas are only in the central area and around architectural highlights in the urban area; frontage of regional-level roads and above and main landscape roads in the urban area.

The 2023 Law on Real Estate Business has narrowed the scope of areas permitted to transfer land use rights in the form of subdivision and sale of land plots, as it must ensure that the land is not located in wards, districts, or cities of special-class, class I, class II, and class III urban areas…

Source: Vnexpress.net

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Co May 3 Bridge will be located on the road connecting Vung Tau city with Bien Hoa – Vung Tau expressway, one of the main routes of the Southeast region. This is a key location in connecting Vung Tau port city  with  key areas such as Phu My industrial park, Cai Mep – Thi Vai port system, etc.

Specifically, the 15.7km Bien Hoa – Vung Tau expressway connecting road is divided into 3 component projects with a total investment of up to 18,000 billion VND. Co May 3 Bridge belongs to the second component project crossing salt fields, aquaculture ponds and swamps. Cua Lap Bridge and Coastal Road are expected to connect with Co May 3 Bridge leading to the center of Vung Tau City.

The total investment of Co May 3 Bridge project is expected to be up to 1,200 billion VND, allocated for items such as site clearance, bridge construction, access road system and other auxiliary works. The starting point of the bridge is located in Long Dien district (Ba Ria – Vung Tau province).

The bridge is about 500 m long. The cross-section of the bridge is about 25-30 m wide, enough for 4 lanes. The bridge section on the highway is designed for a speed of 100 km/h, the parallel road section is designed for a speed of 60 km/h. The photo above is a perspective of Co May 3 bridge.

The bridge is also designed to withstand heavy loads, meeting the transportation needs of heavy vehicles serving industrial parks and seaports in the region.

Site clearance is one of the major challenges of the project. The area to be cleared is estimated to be tens of hectares, affecting hundreds of households and a number of public works.

When completed, the project will reduce the load on the current Co May bridge and surrounding roads, minimizing traffic congestion, especially during holidays and Tet when the number of tourists to Vung Tau increases. Pictured is the existing Co May bridge.

In addition, Co May 3 Bridge is expected to create a strong boost for the local economy, especially the industrial, seaport and tourism sectors. Shortening travel time and enhancing connectivity with major economic centers will create favorable conditions for investors and businesses.

The project is expected to take about 36-48 months to complete, depending on the progress of site clearance and actual construction conditions. The bridge is expected to be operational by the end of 2027, becoming one of the largest and most modern bridges in Ba Ria – Vung Tau province. The photo shows the coastal road expected to connect to Co May 3 bridge.

The Co May 3 Bridge project promises to become one of the strategic transport infrastructure projects, contributing significantly to shaping the future development of Vung Tau city and the key economic region of the South.

Ba Ria – Vung Tau province owns over 100,000 km2 of continental shelf with reserves of about 400 million m3 of oil (accounting for 93.29% of the country’s reserves) and about 100 billion m3 of gas (accounting for 16.2% of the country’s reserves). This place is home to many companies and factories serving the oil and gas industry, with the center being Vung Tau city.

Source: Cafef.vn

The post Ba Ria – Vung Tau: The area will build a 1,200 billion VND bridge, connecting the oil and gas capital with the 18,000 billion VND highway. appeared first on Phat Dat Corporation Real estate Development (HoSE: PDR).

On the morning of August 14, Di An City held an inauguration ceremony and put into operation the East-West main road. This is a project that helps connect Dong Nai and Binh Duong with key projects such as the new Eastern Bus Station and the Ben Thanh – Suoi Tien metro line in Ho Chi Minh City.

The East-West main road project, starting from National Highway 1 (Binh Duong) through the University Village Belt (Ho Chi Minh City National University urban area) to Hanoi Highway and ending directly to the new Eastern Bus Station of Ho Chi Minh City. The project started in March 2021, with a total investment of nearly 730 billion VND; of which compensation, support and resettlement costs are nearly 536 billion VND; construction costs are more than 139 billion VND…

The route is over 3 km long; the roadbed width is up to 32 m, with 6 lanes, and a complete rainwater drainage, tree, and lighting system.

From above, although the project has been completed, there is still a 50m gap that has not been cleared, which not only makes it impossible to connect to Hanoi Highway but also affects the urban beauty.

50m not connected to National Highway 1K due to Hanoi Highway expansion project

Regarding this issue, Mr. Vo Trong Tai, Vice Chairman of Di An City People’s Committee, speaking to the press, said that the East-West main road project was completed on schedule and within the approved project scope. “The 50m cannot be connected to Hanoi Highway because this land is part of the Hanoi Highway expansion project invested by Ho Chi Minh City People’s Committee,” Mr. Tai explained.

According to Mr. Tai, the 50m section of the Hanoi Highway expansion has been transferred by Ho Chi Minh City to the People’s Committee of Binh Duong province and the province has agreed to adjust the project, allowing Di An city to build the remaining 50m, instead of waiting for the Hanoi Highway expansion project.

“Di An City authorities are reviewing the land clearance compensation records of the Hanoi Highway expansion project. In cases where compensation money and land have been received, but assets have not yet been compensated, the locality will compensate the assets. In cases where land compensation has not been received, compensation will be made according to the current land price frame,” said Mr. Tai.

The estimated compensation for site clearance and construction is about 100 billion VND. There are currently more than 30 related cases that need compensation for assets and land of about 1.4 hectares. According to the plan, by September Di An City will complete site clearance, and by the end of this year the route will be open to National Highway 1, through the new Eastern Bus Station.

Source: Cafef.vn

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According to statistics from the State Bank of Vietnam (SBV), the Ministry of Construction said that as of May 31, 2024, outstanding credit for real estate business activities reached more than 1.2 million billion VND.

Specifically, outstanding credit for urban area construction investment projects and housing development projects reached VND318,799 billion.

Meanwhile, outstanding credit for office leasing projects reached VND44,080 billion; outstanding credit for industrial park and export processing zone construction projects reached VND86,330 billion.

For tourism, ecological and resort projects, outstanding credit balance reached VND49,127 billion.

Restaurant and hotel projects have outstanding credit balance of VND 61,483 billion. For loans for construction and repair of houses for sale and rent, outstanding credit balance reached VND 126,794 billion.

Outstanding credit balance for loans to purchase land use rights reached VND94,402 billion.

For other real estate business investments, this figure reached 424,422 billion VND. The balance of guarantees for future housing is 14,406 billion VND.

According to the Report of the State Bank of Vietnam, in June alone, the second quarter of 2024, credit growth reached 3.6%, higher than the credit growth rate of the first 5 months combined.

The banking sector has fulfilled the target assigned by the Government. However, the main lending sector of credit growth, real estate, has decreased sharply recently, the demand for loans from businesses as well as people has shown signs of slowing down, despite the context of housing prices currently “anchored” at a high level but not many actual transactions.

One of the reasons for this situation is that housing prices are currently at a large gap compared to people’s incomes. This trend continues despite the difficult economic situation and the fact that workers’ incomes are showing no signs of recovery.

The State Bank of Vietnam has been closely monitoring developments and the macroeconomic situation, following the Government’s direction.

Along with that, the State Bank also focuses on building and perfecting institutions and policies; improving effectiveness and efficiency in deployment and implementation; and complying with the direction of the Government and the Prime Minister.

The pressure of bond maturity is still considered a heavy responsibility for businesses. Photo: Internet

The Ministry of Construction also recommended that the State Bank focus on directing major state-owned commercial banks to conduct research, develop and provide credit packages for social housing buyers with loan terms of 10-15 years, preferential interest rates 3-5% lower than normal commercial loans so that low-income people and workers in industrial parks have more opportunities and motivation to buy houses.

Regarding the issuance of bonds in the real estate sector, the Ministry of Construction cited data compiled by VBMA from HNX and SSC showing that since the beginning of the year, there have been 102 private issuances worth VND104,109 billion and 10 public issuances worth VND11,378 billion.

Statistics show that the real estate industry still dominates capital mobilization activities from the bond channel.

Assessment reports from a number of bond market research organizations in the second quarter of 2024 show that real estate bonds have tended to increase issuance again, and businesses have reduced maturity pressure compared to the previous quarter.

Specifically, in April 2024, the issuance value of the real estate industry group dominated capital mobilization activities from the bond channel, accounting for 56% of the total issuance value in the month.

In May 2024, the real estate sector issued bonds including the following enterprises: Vingroup Joint Stock Company (stock code:  VIC ) had 2 final offerings raising an additional 4,000 billion VND; Vinhomes Joint Stock Company also completed the plan after selling an additional 2,000 billion VND bond lot; Hoang Truc My Company Limited sold a bond lot worth 200 billion VND; IDTT Joint Stock Company (formerly Thu Thua IDICO Industrial Park and Urban Development Joint Stock Company – CONAC) raised 200 billion VND;

In June 2024, businesses issued a total of 62 bond lots and collected VND 68,000 billion (doubled compared to the same period in 2023); the construction/real estate industry group mobilized about VND 8,000 billion, accounting for 12%.

Statistics in the second quarter of 2024 show a bright outlook for bond issuance by some real estate businesses, giving more stable expectations for an important capital mobilization channel of the real estate industry.

Despite positive signs, the pressure of maturing bonds is still considered a heavy responsibility for businesses to regain the trust of investors in the corporate bond market in general and real estate corporate bonds in particular, ensuring healthy and stable development in the future.

Source: Người Quan Sát.

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To increase the role of a traffic hub and the connectivity between Binh Duong and Ho Chi Minh City, Thuan An City plans to build three more bridges over the Saigon River. In addition to the existing Phu Long Bridge and Binh Goi Bridge on Ring Road 3 through Cu Chi District, Thuan An will add a bridge on Cau Tau Road (Hung Dinh Ward) connecting Hoc Mon District; Vinh Phu Bridge (VP09 Road) connecting District 12, and restore Lai Thieu Iron Bridge into a landscape architecture bridge.

A corner of Thuan An City. Photo: Baobinhduong

A series of main routes in the city and routes connecting neighboring localities are also expected to be upgraded with road widths from 32 to 54 meters. The province plans a number of routes parallel to the main urban roads such as Binh Duong Boulevard, My Phuoc – Tan Van Road and DT743a, DT743b to share traffic volume, with road widths from 22-30 meters.

According to the approved plan, Thuan An will renovate and improve many areas with an area of ​​about 2,000 hectares. The locality focuses on upgrading technical infrastructure, prioritizing projects towards increasing land fund for social infrastructure development such as kindergartens, green parks, etc.

For traditional urban areas such as the center of Lai Thieu ward, which is about 99.72 hectares wide, and the area around Bung market, which is about 8.39 hectares wide, the province said it will renovate and embellish them in the direction of preserving tangible and intangible cultural identities. This area will also build commercial models, services, restaurants, hotels, walking streets, night streets… to serve tourism associated with the Lai Thieu fruit garden area.

The planning also identifies a mixed-use land corridor (or converted land) of about 1,154 hectares on main traffic axes that will be prioritized for conversion to develop multifunctional projects such as services – urban areas, high-quality housing, education and training…

National Highway 13 through Thuan An. Photo: Pham Nhat Phuc

In addition, 260 hectares of land along the Saigon River and both sides of Ring Road III currently have no roads built, there is still a large agricultural land fund, and low construction density. This area is identified as the location for entertainment complexes, tourism, hotels, restaurants, high-quality apartments, condotels and other urban service works. The province wants to form high-quality service centers around passenger terminals on the Saigon River, with traffic connections to the surrounding areas.

659 hectares of land in An Son, An Thanh and Hung Dinh are planned to become an urban fruit garden area with a model of combining housing with homestays with high-quality fruit gardens for tourism. Mixed land on main axes with urban railways such as: Binh Duong Boulevard allows construction of a maximum height of 60 floors; My Phuoc – Tan Van road and Ho Chi Minh City – Chon Thanh highway allow a maximum height of 50 floors.

To soon become a type I city, Thuan An will build many new projects and works for socio-economic development. Some outstanding projects proposed by the province include the Saigon River embankment from Vinh Phu to the border of Thu Dau Mot; a new general hospital; investment in urban parks in Binh Hoa and Binh Chuan wards; and a railway line from An Binh to Bau Bang station. Dong An and Viet Huong industrial parks will be converted into commercial and service areas.

Thuan An was recognized as a city in 2020. This urban area is located in an important position as a gateway connecting other localities of Binh Duong with Ho Chi Minh City. Thuan An borders Di An City to the East, District 12 and Hoc Mon District across the Saigon River to the West, Thu Duc City to the South, Thu Dau Mot City and Tan Uyen City to the North.

Source: Vnexpress.net

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Recently, the Ho Chi Minh City People’s Committee sent a document to the Ministry of Transport regarding the implementation of the Thu Thiem 4 bridge construction investment project across the Saigon River.

Accordingly, the Ho Chi Minh City People’s Committee requested the Ministry of Transport to consider and give opinions on the investment plan to build Thu Thiem 4 Bridge with a navigation clearance of 80 m x 15 m and a scale of 6 lanes (4 car lanes and 2 mixed lanes) to have a basis to complete the project’s Pre-Feasibility Study Report, promptly submit it to the competent authority for appraisal and decision on the project investment policy according to regulations.

According to the HCMC Transport Development Plan to 2020 and vision after 2020 approved in 2013, Thu Thiem 4 Bridge will connect District 7 with District 2 (now Thu Duc City) with a scale of 4 lanes.

Based on the current status, planning orientation and traffic demand, Thu Thiem 4 Bridge is proposed for investment with a total length of about 2.16 km (main bridge section is about 1,635 m), cross-sectional scale of 6 lanes (4 motor lanes and 2 mixed lanes).

There are 2 options for navigation clearance, in which option 1 has the main bridge’s navigation clearance across the Saigon River being 80m x 10m. The total preliminary investment for this option is about 4,365 billion VND.

Option 2 has the main bridge’s clearance across the Saigon River being 80m x 15m. The total preliminary investment for this option is about 4,840 billion VND.

According to the Ho Chi Minh City People’s Committee, option 1 has the disadvantage of low bridge clearance (10m), which limits the operation of waterway vehicles, affecting the effective exploitation of Nha Rong and Khanh Hoi ports.

Although option 2 has a total investment of about 10% higher than option 1, it has a bridge clearance of 15 m, creating favorable conditions for waterway vehicles to operate (with large capacity, height greater than 10 m), especially restaurant boats carrying passengers for tourism and sightseeing of the Saigon River.

Ho Chi Minh City People’s Committee will choose the construction plan of Thu Thiem 4 bridge with a navigation clearance of 80m x 15m, fixed span structure – no lifting or opening solution.

The project will create a new traffic axis in the North – South direction of the city, connecting the southern area of the city with the central area and Thu Duc City in the east. Reduce traffic pressure on the roads of Nguyen Tat Thanh – Khanh Hoi bridge, Kenh Te bridge, Ong Lanh bridge, Nguyen Van Cu bridge…, contributing to solving traffic congestion in the area.

Source: Cafef.vn

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The Ho Chi Minh City People’s Committee has just submitted a document to the Ministry of Construction on the Project to adjust the general planning of Ho Chi Minh City to 2040, with a vision to 2060, for appraisal and submission to the Prime Minister for approval.

Confluence of Powers

According to the report, the planning boundary is the entire administrative boundary of Ho Chi Minh City with a total area of about 2,123 km2; including the entire area within the existing administrative boundary of more than 2,095 km2 and the related Can Gio sea area. Regarding the planning period, the first phase is until 2030, the long term is until 2040 and the vision is until 2060.

 Ho Chi Minh City aims to become a global, civilized, modern, and humane city, developing on par with major cities in the world. 

Ho Chi Minh City is planned to be a global, civilized, modern, and humane city, developing on par with major cities in the world, becoming the economic, financial, and service center of Asia. Ho Chi Minh City is also a place with unique cultural development, people with high quality of life; the nucleus of the Southeast region, the growth pole of the whole country.

In the project, Ho Chi Minh City orients the overall development of space towards the confluence of forces. Firstly, the confluence of natural forces, sustainable development and adaptation. The city takes ecological landscape as the center, promoting the power of nature as the foundation for development.

Second, the convergence of talent and resources. Along with creating a bustling and unique metropolis, an attractive destination and living environment, Ho Chi Minh City provides living and working space for highly skilled workers and entrepreneurs; organizes many modern production and business centers, connected to the regional transportation system and international gateways.

With the content of converging the economic strength of the whole region, Ho Chi Minh City becomes an international trade and creative economic center, flexibly welcoming all opportunities. Along with that, arranging and directly connecting Ho Chi Minh City’s production and business areas to strategic international logistics locations; closely connecting with the global supply chain; at the same time restructuring the industrial land fund in the inner city to welcome all opportunities to transform the economy to higher value…

Multi-center with 5 metropolitan areas

According to the report, Ho Chi Minh City develops according to a multi-center urban model associated with diverse ecological spaces, including a central urban area and 4 urban areas: East, West, South, North. Ho Chi Minh City converges and spreads the development momentum by the Saigon River, 10 radial axes, 3 belts and marine economic corridors; connecting with the national and international transportation network.

Each urban area is a multi-functional area, able to meet the needs of employment and high-quality living environment, on-site for a large part of the population; performing the role of regional, national and international center. Urban development is concentrated in association with public transport; from production and business centers, it is possible to connect to seaports, airports and mangrove forests within 15-20 minutes.

Specifically, the central urban area is limited by the Saigon River, Highway 1, Doi Canal and Te Canal. The main characteristics are administration, foreign affairs, trade, services, knowledge economy, creative urban areas… The forecast population size by 2040 is about 4.3 million people.

The Eastern urban area – Thu Duc City has the main functions including: creative urban area, education and training, high-tech industry, financial services, healthcare, eco-tourism… In which, the international financial center is oriented to develop in the Thu Thiem area. The population size is forecasted to be about 2.2 million people by 2040.

The Northern urban area includes the area north of National Highway 1 in District 12, Hoc Mon District and Cu Chi District. The main functions include: entertainment, cultural, resort, health care, environmental and agricultural services (landscape, organic, high-quality, high-tech agriculture), industry, education – training, eco-cultural – historical tourism… The population size is forecasted to be about 4.5 million people by 2040.

The western urban area includes the area east of National Highway 1 in Binh Tan district, the northern area and the center of Binh Chanh district to the west of Can Giuoc river. The main functions are industrial urban area, commercial services, technology and health care services, biomedical and pharmaceutical centers, education and training… The population size is forecasted to be about 2.4 million people by 2040.

The southern urban area includes the area south of the Doi Canal in District 8, the area east of the Can Giuoc River in Binh Chanh District, District 12, District 7, Nha Be District and Can Gio District. This area has the main functions of a high-tech urban area, water ecology, knowledge economy, culture and arts, exhibitions, fairs, entertainment, eco-tourism, industry, logistics, marine economic center… The population size is forecasted to be about 3.1 million people by 2040.

Regarding housing development orientation, Ho Chi Minh City focuses on affordable housing for the majority of the population and social housing. The proportion of housing segments for middle-income households and social housing is guaranteed to account for at least 60% of the number of apartments in new housing construction projects and urban reconstruction projects.

According to the report, Ho Chi Minh City plans to develop a specialized healthcare system in the area into 3 clusters. These are the specialized healthcare cluster in the central area of Ho Chi Minh City; the specialized healthcare cluster in Tan Kien commune, Binh Chanh district and the specialized healthcare cluster in Thu Duc city. Each cluster includes a university in the health sector training high-quality healthcare human resources, university hospitals, general hospitals, and specialized hospitals that meet quality standards and technical expertise standards on par with countries in the region.

In addition to developing specialized medical clusters, Ho Chi Minh City will develop more general and specialized hospitals to serve people in corresponding residential clusters.

Source: Cafef.vn

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Recently, the Telegraph has published a list of the most beautiful beaches in the world, evaluated based on 10 different criteria, including the most luxurious beach accommodations, the most stunning sunset views, and the best family-friendly beaches.

 My Khe Beach is a top entertainment paradise in Da Nang, offering a wide range of recreational activities. Photo: Internet

Notably, two beaches in Vietnam, My Khe and Non Nuoc (both in Da Nang), have made it onto the list of beaches with the best atmosphere, promising visitors unforgettable experiences. Alongside world-famous beaches, these two have established themselves as top destinations for tourists wanting to enjoy a vibrant and lively atmosphere.

My Khe Beach (Phuoc My Ward, Son Tra District, Da Nang City) is known as one of the busiest beaches in the most livable city in Vietnam. With its long stretch of fine white sand, gentle waves, and lush palm trees, My Khe is not only a beautiful beach but also a paradise for relaxation, attracting many visitors who come to unwind and enjoy life.

Like other beaches in Da Nang, My Khe Beach is a haven for entertainment with numerous exciting activities such as surfing and snorkeling. Notably, the beach has a comprehensive

lifeguard system, including watchtowers, life buoys, warning flags for dangerous currents, and a dedicated rescue team available around the clock to respond promptly in case of emergencies.

 Non Nuoc Beach exudes a tranquil and pristine beauty. Photo: Internet

Non Nuoc Beach, located in Hoa Hai Ward, Ngu Hanh Son District, Da Nang City, offers a tranquil and pristine beauty. About 8 kilometers from the city center, it is an ideal resort destination that visitors should not miss when coming to this beautiful coastal city.

Due to its distance from the city center, Non Nuoc offers a completely different experience compared to My Khe Beach. Less crowded, it provides visitors with a peaceful and relaxing atmosphere. This beach mainly caters to guests staying at nearby resorts, travelers making a stop, or those looking for a truly serene beach to unwind.

The best time to explore My Khe and Non Nuoc beaches is from April to September each year. During this period, the weather in Da Nang is very pleasant with clear skies, golden sunshine, and little rain, creating ideal conditions for beach activities and entertainment.

Source: Người Quan Sát.

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Foreign Enterprises Launch Real Estate Projects

Since the beginning of 2024, numerous large companies from various countries, such as Japan, Malaysia, and Singapore, have been aggressively investing in real estate projects, prominently featuring affordable housing projects in Binh Duong.

Recently, TT Capital Investment Joint Stock Company, along with two partners from Japan—Cosmos Initia (a member of Daiwa House Group) and Koterasu—has collaborated to develop a line of affordable housing products in Binh Duong and neighboring provinces.

This joint venture announced an investment of approximately $150 million over five years, aiming to deliver thousands of affordable apartments to the market each year. The venture has completed its capital contribution for a project near Vincom Di An (Di An City), which has a scale of nearly 2,000 apartments, priced under 2 billion VND per apartment, and is likely to launch in the third quarter of this year.

It is known that Bcons Group, a company with several social housing projects in Binh Duong, is also partnering with Asset Limited (Thailand) to continue developing 11 housing projects totaling nearly 9,000 affordable apartments in the area. Recently, this investor announced plans to implement more than 2,000 social housing units in the Thong Nhat area (Di An City) by 2025.

In April 2024, Kim Oanh Group also signed an investment cooperation agreement for the One World Urban Area real estate project with three Japanese partners, including Sumitomo Forestry Group, Kumagai Gumi Group, and NTT Urban Development Company. The project covers nearly 50 hectares, with total investment exceeding $1 billion. It is located at key road intersections such as Binh Duong Boulevard, Nguyen Thi Minh Khai, and Ring Road 3 – Ho Chi Minh City.

One of Asia’s leading real estate groups, CapitaLand (Singapore), has also broken ground on the Sycamore housing project, covering 19 hectares in Binh Duong. This project will build nearly 3,500 apartments, meeting the housing needs of about 13,000 residents. The total development value of the project is approximately 18 trillion VND. Notably, this is the largest and most affordable project among the products that this investor is implementing in Vietnam.

Numerous Advantages and Incentives Attracting Investment

As an enterprise that has invested in Binh Duong real estate, Mr. Ronald Tay, General Director of CapitaLand Vietnam, shared that the Sycamore project is a testament to this company’s confidence in the Binh Duong real estate market.

“Binh Duong is not only a locality with a strategic position and a favorable business environment, along with high-quality infrastructure, but it is also one of the dynamically developing localities, strongly attracting FDI capital,” said Mr. Ronald Tay.

In an interview with an Investment Newspaper reporter, Mr. Shin Ogawa, Head of Housing Operations at Cosmos Initia, also stated that his company and its joint venture partners highly value the housing market potential in Vietnam, especially the real housing demand of people in Ho Chi Minh City, Binh Duong, and surrounding areas, with the real housing demand increasing while supply is severely lacking.

For his part, Mr. Nguyen Dinh Truong, General Director of TT Capital Investment Joint Stock Company, noted that the investment implementation of the TT AVIO apartment project in Di An City is proceeding smoothly and on schedule, thanks to the support and favorable policies from local leaders. This will be a motivation for investors to continue pouring capital into projects in the area.

From the perspective of the Binh Duong Real Estate Association, Mr. Giang Quoc Dung, Chairman of the Association, stated that investors from Japan, Singapore, Thailand, and China are the most interested in the segment serving real housing needs. Therefore, they are always flexible in investing in Binh Duong.

Moreover, according to Mr. Dung, Binh Duong has a favorable position next to strongly developed localities such as Ho Chi Minh City and Dong Nai, and it also has a large land fund that allows for the construction of high-rise buildings without being limited by population density. Additionally, the province has a transparent investment environment and quick legal procedures.

Notably, the cooperation between Binh Duong and large, globally recognized groups, such as Warburg Pincus, Sembcorp, Tokyu, CapitaLand Development, and Aeon, has recently achieved significant success and will continue to contribute to the transformation of Binh Duong’s urban landscape. This is also one of the reasons why foreign investors in real estate have a realistic view of the investment advantages in this locality.

With its potentials and advantages, recently, not only foreign enterprises but also many domestic investors have continuously poured capital into the real estate market in Binh Duong, focusing on the most potential and practical segment: affordable social housing.

For example, Phat Dat Real Estate Development Joint Stock Company plans to introduce the Thuận An 1 and Thuận An 2 high-rise mixed-use residential area projects in Thuận Giao Ward (Thuận An City) in October 2024.

Source: Báo Đầu Tư.

The post FDI Capital Continuously Flows into Binh Duong Real Estate Market appeared first on Phat Dat Corporation Real estate Development (HoSE: PDR).

Da Nang real estate prices set new milestone

According to information at the event “Overview of Da Nang Real Estate Market 2024” by Batdongsan.com.vn, the number of searches for real estate for sale in Da Nang in the second quarter of 2024 increased by 44% compared to the previous quarter and exceeded the peak of 2023. In addition, the price level of real estate for sale in Da Nang set a new milestone. This can be explained by the appearance of many high-end apartment projects in recent times, causing the average price to increase.

Specifically, The Filmore Da Nang is leading in apartment selling prices with an average of 120 million VND/m2. Three projects of Sun Group including Sun Symphony Residence, Sun Ponte Residence and Sun Cosmo Residence have prices ranging from 55 – 70 million VND/m2. The price base of some other projects such as The Sang Residence or Peninsula Da Nang is also from 50 – 56 million VND/m2.

Accordingly, apartments have the most outstanding growth. Specifically, the number of listings for sale of apartments in Da Nang in the second quarter of 2024 increased by 56% compared to the first quarter of 2024, the level of interest and the asking price also increased by 39% and 14% respectively. According to a survey of brokers, 55% said that the Da Nang apartment market is gradually recovering and 27% said that this type is growing strongly.

Mr. Ha Nghiem – Director of Da Nang branch of Batdongsan.com.vn commented: “The supply of luxury apartments next to the Han River is a boost for the Da Nang real estate market with prices and quality different from previous projects”.

In terms of demand, the trend of buying apartments in Da Nang for short-term trading has decreased compared to investing for living and renting. Specifically, 64% of brokers participating in the survey said that short-term trading has decreased compared to the previous period, more than 50% said that the demand for buying for living and investing is increasing.

This trend also goes hand in hand with expectations of profitability. Mr. Ha Nghiem said: “With the price level of Da Nang apartments not being low, buyers and investors also have certain expectations. Their biggest expectation lies in the rental cash flow from Da Nang’s tourism growth. From 2020-2021, due to the impact of the Covid-19 epidemic, Da Nang only welcomed 1 to 3 million visitors each year compared to nearly 9 million visitors in 2019. The city is aiming to attract about 8.4 million visitors in 2024. Therefore, many people believe that tourism will still have the potential to recover and increase again, promising stable apartment rental yields.”

Mr. Ha Nghiem said that this is not an unreasonable expectation, because in the first half of 2024, Da Nang is one of the few cities with good apartment rental rates and rental yields, from 4.2 – 4.5%.

Land and private houses in Da Nang also have positive signs. The growth rate of interest in land and private houses in this locality is among the top in the country. Specifically, the number of searches for land and private houses in Da Nang in the second quarter of 2024 increased by 41% and 55% respectively compared to the first quarter of 2023. At the same time, the selling price of land and private houses in Da Nang also showed signs of increasing. Specifically, the average selling price of land in Da Nang in the second quarter of 2024 was 33 million VND/m2, an increase of 10% over the same period last year. Private houses are being sold at an average of 61 million VND/m2, an increase of 9%.

According to this unit’s survey of hundreds of brokers in Da Nang, the volume of real estate transactions in this city has improved with common product values ​​of about 2-4 billion VND. Accordingly, 73% of brokers said that real estate transactions were stable or increased in the first 6 months of this year compared to 2023.

Hanoians speed up search for apartments in Da Nang

Although the interest in Da Nang apartments from Da Nang people still accounts for the largest proportion, the strongest growth rate of interest comes from Hanoi investors. Accordingly, the number of searches for Da Nang apartments from Hanoi people is increasingly large and increased by 90% in the second quarter of 2024 compared to the previous quarter.

According to the survey, only 28% of those looking for apartments in Da Nang are from Da Nang, the rest are from other areas. Meanwhile, the rate for land and private houses is from 40 – 42%, reflecting the high demand for real housing of local people.

However, Da Nang people have also become more open-minded towards apartments. 26% of the brokers participating in the survey revealed that Da Nang people have changed and are proactive in learning about apartments, 59% said that they are more interested in apartments than before but still prioritize land or private houses.

For Da Nang people who are interested in apartments, the main reason is that they expect good rental income. In addition, they also pay attention to living experience, amenities, location and good infrastructure. As for those who are not open to apartments, the main reason is because there is still a lot of land in Da Nang and the price is still quite good compared to apartments, besides the inherent mentality of not wanting to live in apartments due to concerns about fire and explosion and pink books.

In general, the Da Nang real estate market is having development opportunities, with the positive shift of apartments and the sustainable growth of land and private houses.

Source: cafef.vn

The post Da Nang real estate prices set a new milestone: Hanoi’s rich seek apartments while Da Nang people prefer private houses and land appeared first on Phat Dat Corporation Real estate Development (HoSE: PDR).