Hunt for more land intensifies for real estate developers
Hunt for more land intensifies for real estate developers
Real estate players are actively setting up and implementing ventures in order to expand available land and prepare for a new development period.
HAUS Da Lat, possessing a prime location in front of the Xuan Huong Lake, will start construction this week. Invested by BTS Bernina and Terne Holdings from Singapore, the complex will include three luxury buildings, 68 sky villas, sky mansions with long-term ownership, and the first InterContinental branded commercial centre and resort in the Central Highlands province of Lam Dong.
Hunt for more land intensifies for real estate developers, source: hausdalat.com |
In mid-January, T&T Group and CPG Corporation Singapore proposed to build an airport and logistics urban complex across 3,400 hectares in the central province of Quang Tri.
According to consultants CPG Corporation Singapore, the industrial production ecosystem, seaport logistics, and energy complex with large-scale industrial area will utilise the economic competitiveness of the east of Quang Tri based on maritime transport.
In addition, air transport will help improve competitiveness for industrial production and manufacturing, time-sensitive products, and exports.
Ha Sy Dong, Acting Chairman of Quang Tri People’s Committee, said the plans will maximise the advantages and potential of the locality.
According to Dong, the committee agreed with the idea, but investors were requested to absorb comments from provincial leaders, departments, sectors, and units to complete the plans in the spirit of closely following the legal basis and outlines to be consistent with general development planning.
“If there is good planning, there will be good development. I request consulting unit and investors to pay attention to ideas that must be feasible,” Dong said.
Quang Tri also in January received a proposal from Sam Holdings JSC to build a high-end residential, resort, sports, and entertainment complex in Gio Linh district. It will be a mixed-use resort, high-end residential area, and a golf course complex with investment of $4.1 billion.
Also in January, Tan Hoang Minh Hotel and Service Trading Company were looking to research Bau Sen ecotourism resort in the neighbouring province of Quang Binh. With estimated capital of $600 million, the complex is expected to be a high-class resort combining commercial and service buildings, villas, hotels, restaurants, parks, and golf courses.
In recent years, a series of major groups have been active in pouring money into collecting land plots and buying projects, such as DIC Holdings, Vinhomes, and Nam Long Group.
According to Nguyen Thanh Huong, investment director of Nam Long Group, this investor now has about 700ha of land reserve, mainly concentrated in Ho Chi Minh City and satellite cities. However, to ensure long-term growth, Nam Long is further expanding its available land.
“We are applying many different approaches to develop more land plots. One of the key solutions is to buy existing projects that already have suitable land area. In addition, we are considering participating in converting land use purposes from existing projects and researching a new option to participate in the auction of land use rights,” Huong said.
Similarly, Dat Xanh Group said it is constantly looking for opportunities and expanding its clean land reserve. Dat Xanh is looking for 100-200ha across the country. It also plans possible mergers of existing projects with potential to develop housing to meet realistic needs. Its immediate goal is to collect more available land in the southern provinces of Binh Phuoc and Dong Nai.
According to vice chairman of Hanoi Real Estate Club Nguyen The Diep, the revised laws on land, housing, and real estate business have encouraged real estate groups to utilise land expansion for strategic reasons, including ensuring supply for the future and benefiting from land value increases.
“Businesses with large land reserves will have a competitive advantage and flexibility in new development strategies, meeting market needs without having to depend on third parties. At the same time, this also helps limit the risk of market fluctuations,” Diep said.
