The real estate market is expected to gain momentum in 2019 thanks to the heat from several billion-USD property projects that received investment certificates in previous years.
A graphic image of a mega
smart city project that spans 272 hectares in Dong Anh district, Hanoi (Photo:
cafef.vn)
One of the biggest projects
is the construction of a mega smart city spanning 272 hectares in Hai Boi
commune, Dong Anh district, Hanoi, with total investment of nearly 4.2 billion
USD. Its investors - Vietnamese BRG Group and Japanese-based trading company
Sumitomo - aim to build it into the largest smart urban area in the Southeast
Asia.
The investors proposed establishing five companies to execute five component
projects, which are scheduled to start this year and be completed in 2030.
In the first phase, the Sumitomo-BRG joint venture will pour over 1 billion USD
into facilities on an area of over 73 hectares.
Once completed, the smart city is expected to bring great impacts on the real
estate market in Hanoi.
In the northeast province of Quang Ninh, the Vision Transportation Group (VTG),
Hai Dang JSC, and Sunny World Property Development Corp Businesses proposed
three large-scale projects with total investment amounting to 10-15 billion
USD, in Van Don island, which is targeted to become a special economic zone.
Those include a high-speed railway route linking Mong Cai and Van Don, the Hon
Net - Con Ong complex of seaport, industrial and urban areas, and the urban
complex in the north of Cai Bau island.
The proposed Van Don - Mong Cai railway will have a length of 100km, connecting
Mong Cai border gate with Van Don special economic zone, with the central
station located at the North Cai Bau urban complex. It will be used for
passengers and improve transportation.
Meanwhile, the Hon Net - Con Ong seaport project, worth 1.2 billion USD, will
span a total area of 500ha. The construction of the port system would be done
in phases. In the first stage, a wharf with length at 350 – 400 meters will be
developed to accommodate the 150,000 DWT (Deadweight Tonnage) vessels.
The urban complex in the north of Cai Bau island will include a residential
area and shopping and service areas on 5,000 ha of land. It will be connected
to Van Don Airport and the railway route and the Van Don Heritage road in the
southern part of the island.
Meanwhile, Banyan Tree Holdings Limited received permission to double its
investment in Laguna Lang Co resort complex in Thua Thien-Hue province in April
2018. Accordingly, the firm would increase its charter capital from 175 million
USD to 300 million USD and its investment capital from 875 million USD to 2
billion USD to add casino business and other facilities.
The project has put into use the Angsana Lang Co hotel with 229 rooms and a
golf course with total investment of 230 million USD. Nearly 300 million USD is
being poured into a five-star hotel, 50 retail shops, and 249 villas.
Source: VNA
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