Infrastructure lifts HCM City property market
Ho Chi Minh City is becoming very popular with property developers thanks to the many infrastructure works planned for the area.
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The Vietnam Highway Investment Corporation is now speeding up the last three contract packages for the Ben Luc – Long Thanh Highway so that it can open to traffic in 2020.
It will link up with the national highway system and Long Thanh International Airport.
Many other projects have been approved, including the Nguyen Van Linh – Nguyen Huu Tho interchange and widening of Nguyen Tat Thanh street in District 4.
Construction of the Rach Dia and Long Kieng bridges will be completed early next year.
Le Van Luong Road, a key link between HCM City and Long An province, will also be widened.
Metro line No 4 will run completely in the south.
Many analysts said this part of the city has seen the best urban development.
Le Hoang Chau, chairman of the HCM City Real Estate Associations, said infrastructure has played a key role in this development.
He told Saigon Giai Phong (The Liberated Saigon) newspaper that since the south of the city is under pressure from people flocking here, authorities have no choice but to pour money into developing infrastructure.
The rapid infrastructure development has attracted many housing projects, hospitals, schools and malls.
Duong Tuan Tu, chairman of the Tuan Long Company, told Saigon Giai Phong that his company plans to develop a few projects in the area since it has a lot of potential.
At the end of this month, the company would continue to sell apartments in its Green Life project, he said.
Hung Loc Phat Real-estate Development Company said to take advantage of all the new infrastructure, at the beginning of next year the company would sell units in its Green Star project on Pham Huu Lau street.
The project will have 100 villas and houses and 1,000 apartments.
Another developer announced plans to sell 4,000 luxury apartments on Dao Tri Street in Nha Be district.
According to Le Tuan Trung, general director of Bao Khang Real Estate, since there are many foreign schools in the south, foreigners choose to live there.
Dinh The Hien, an economist, said that most of the housing projects in the south are co-ordinated with the overall urban plan. Thus, along with infrastructure, these projects have created a new face for the south.
Besides existing projects, there are also many investors seeking the right to develop new ones, he added.
