Links to City lift Long An property market

Sep 22nd at 16:29
22-09-2018 16:29:32+07:00

Links to City lift Long An property market

A series of road constructions to neighbouring HCM City has caused the real estate market in Long An Province to soar.

 

The province has earmarked huge sums for improving transport connectivity with HCM City.

For example, it has widened 55km of DT830 road at a cost of VND 2 trillion (US$71.5 million).

The road links up with National Road 22 to run into HCM City at a point where there are many industrial parks like Tan Binh, Vinh Loc and Tay Bac Cu Chi.

Work on Belt Road No 3 passing through HCM City and Long An, Binh Duong, and Dong Nai provinces began last April.

In June BOT 830 connecting Ben Luc and Duc Hoa districts with the HCM City – Trung Luong Expressway opened to traffic.

“These transport projects will be an important link between Long An Province and many districts of HCM City,” Dau Tu (Viet Nam Investment Review) newspaper quoted the deputy director of the province Department of Transport, Nguyen Van Chinh, as saying.

“It will help develop the province and promote urbanisation.”

Real estate experts revealed that investors are now paying close attention to regions contiguous to HCM City like Duc Hoa and Can Giuoc districts in Long An because of cheap prices, many key national infrastructure works, and greenery and clean air, and easy connectivity to HCM City.

Him Lam Company has proposed establishing a 32,000ha open economic zone with technology-based agriculture, eco-residential areas, industrial zone, urban region, and an international port.

Van Thinh Phat Corporation has received approval for 36 projects on a total area of 2,100ha while Truong Hai Corporation will develop the 152ha Truong Hai International Investment Area.

Nam Long Corporation has started to develop the 355ha Waterpoint Urban Area in Ben Luc District at a cost of VND6.9 trillion ($302 million) in the first phase.

“The most favourable condition for Long An Province is it is located at the gateway to the Mekong Delta from HCM City. Convenient transportation to HCM City and cheap prices are two reasons for real estate growth in the province,” an expert on the industry Phan Cong Chanh, said.

Tran Duc Vinh, general director of real estate company Tran Anh Group said: “It is expected that in 2019 the Long An real estate market will see strong development when transport projects to connect with HCM City are complete.”

bizhub



NEWS SAME CATEGORY

Real estate credit under strict control

With the issuance of Resolution No.01/NQ-CP, the Vietnamese government has affirmed that it will strictly control credit for potentially risky sectors, especially...

Global hotel giants flock to Vietnamese tourism

With the outlook for Vietnam’s tourism industry bright, international hotel operators are flocking to Vietnam in order to profit from the market’s high growth...

Ecopark to officially launch Ecopark Grand – The Island villas

Ecopark will organise the “Ecopark autumn masterpiece” tea party at Ecopark Grand – The Island on September 23, offering customers an opportunity to view and...

Novaland names distributors for new condo project in downtown HCM City

Novaland has announced that MLand, TatiLand and MGLand are the official distributors of The Grand Manhattan, a new apartment project in HCM City’s District 1.

Central province to boost tourism property projects

Construction of the Cocoland Riverside Resort & Spa with total investment of VND160 billion (US$7.1 million) to boost tourism connections is to start soon in Quang...

HCM City encourages private investors to develop affordable housing

HCM City will adopt incentives to encourage the private sector to develop social housing for sale and rent to address the city’s shortage of affordable homes for...

Ho Chi Minh City calls for investors for two smart city projects

Investors are actively responding to the call of the Ho Chi Minh City People’s Committee for its two smart city projects.

Ha Noi to build 48.5-hectare urban area in Bac Tu Liem

Ha Noi People’s Committee has approved a 1:500 scale plan of Vibex urban area which covers more than 48.5 hectares in Bac Tu Liem District with a population of...

New wave of technology firms and co-working operators start

Vietnam has been seeing a new wave of technology firms and co-working operators, creating new opportunities for the real estate industry.

Opportunity for billion dollar Vung Tau Paradise complex still open

One year after the province of Ba Ria-Vung Tau published criteria to choose a new investor for the large-scale Paradise tourism complex in the coastal city of Vung...

Real estate stocks

Construction stocks


MOST READ


Back To Top