Following the success of the megacities in Ho Chi Minh City, a series of new projects are trying to accelerate progress in the second quarter of 2022.
Saigon Binh An project changed its name to Global City revived after 20 years, Van Phuc City accelerated construction, Vinhomes Grand Park has just launched a luxury apartment subdivision... These are mega-urban projects that are actively increasing speed to meet market demand, increase the supply of real estate (real estate) for HCMC in the second quarter of 2022.
Revival megacity project
Last time, project The Global City (Thu Duc City) attracts attention in the real estate business world when there is a lot of related information, the selling price is in the form of "top". This project, formerly Saigon Binh An, was approved by the People's Committee of Ho Chi Minh City to invest with a land fund of 120 hectares in January 1999.
However, for various reasons, the project has not yet taken shape. Up to now, with the new name, the project is likened to "the only remaining diamond" in District 2 (now Thu Duc City), expected to become an iconic urban area of the area. Currently, many brokerage units are also preparing to post announcements for sale, set payment schedules on online channels to invite customers to this project.
Another mega-urban project that is also actively under construction is Van Phuc City, the largest riverside urban area in the city with a total investment of about 3 billion USD. The scale of Van Phuc City is up to 198 hectares in the area of National Highway 13, Hiep Binh Phuoc Ward, Thu Duc City.
The latest information from Van Phuc City is that it is expected to announce the sale price and open sale of apartments this year, a number of villas in this urban area have also been opened for sale recently.
According to DKRA, in the first two months of 2022, Ho Chi Minh City has only about seven projects, including one new project and six projects implementing the next phase. In particular, the new supply is concentrated in the segment of Grade A apartments in Thu Duc City and the West of Ho Chi Minh City. The remaining areas are scarce in new open-sale supply.
Similarly, Vinhomes Grand Park has just launched its most advanced subdivision. Vinhomes Grand Park is introduced as a world-class smart city, operated and applied according to successful models in the world such as Singapore, Songdo of Korea, Fujisawa of Japan or a series of smart cities in Europe. Europe, America.
The dominant urban model
Analyzing the advantages of megacities, Mr. Nguyen Hoang Viet, Chairman of the Board of Directors of Son Viet Property JSC (SVP) - a real estate development and distribution unit, said: “Large projects of tens of thousands of scale. The apartment has the advantage of creating a modern living environment, with a large enough population concentration for a series of utility systems to operate effectively and become the center or attract residents elsewhere to visit, play, and have fun. entertainment, shopping”.
According to Mr. Viet, very successful mega-urban models can be mentioned as Phu My Hung in the past or Vinhomes Central Park today... and more and more large projects appear, mainly in Thu Duc City. . This can help this area become a livable city, the center of finance, entertainment, shopping and tourism of the South in particular.
“The higher the income, the more people will want to improve their quality of life such as having a beautiful home, having many sports facilities such as parks, swimming pools, gyms and spas, large-scale commercial centers and other facilities. nearby office buildings. This is the advantage of a mega-urban area when most of the utilities and ecosystems are available, "- Mr. Viet analyzed.
According to Mr. Nguyen Quoc Anh, Deputy General Director of batdongsan.com.vn, on this real estate website, the policy of loosening credit, speeding up legal procedures for projects and the development of the economy and economy The macro economy is the driving force to promote the supply and transactions of the real estate market more exciting.
“With the explosion of new supply that is highly appreciated in terms of product size and quality, the potential of the Vietnamese market is being interested by international organizations and investment units around the world. The promotion of infrastructure development is assessed to have a direct impact on the real estate market and become the main growth driver of the market in the coming years.
The Asia-Pacific region will attract investment
According to the latest report of JLL (a market research unit), nine out of 10 investors surveyed by JLL expect to increase capital into Asia-Pacific real estate in 2022.
“Our confidence in the Asia-Pacific property market is underpinned by the views of some of the world's most influential investors. However, we expect this confidence to translate into a diversification of investment strategies as commercial real estate in the region is increasingly developing” – Mr. Roddy Allan, Research Director, Asia – Pacific, JLL, said.
