STEPS OF BINH DUONG REAL ESTATE
A series of new apartment projects are being carried out in Binh Duong, bringing a new lifestyle for people who are still used to buying land.
At the end of 2014, Mr. Le Cong Vinh, the head of Taiwan’s invested wood company in Di An town, bought an apartment with an area of 59m2 with two bedrooms and a toilet in Charm Plaza project for VND 800 million. copper.
Charm Plaza is the first apartment project in a new area that has been transformed into a town for three years, invested by a Korean-invested enterprise, started in 2010 with a scale of six high buildings. 24 floors with 2,700 apartments.
At that time, this project was expected to provide accommodation for foreign experts working in industrial zones in Binh Duong. Therefore, the act of buying an apartment in a place where foreigners mostly live in Mr. Vinh is considered to be “outstanding”.
A year later, Mr. Vinh decided to sell the apartment because his friends and relatives advised him to live in the apartment building while the land was plentiful. But more importantly, with the money to buy an apartment, Mr. Vinh can buy two lots of land.
The sale of apartments transferred to Mr. Vinh’s land seems to be a reasonable choice when Phase 1 of Charm Plaza is completed with 404 apartments but sparsely populated, mostly by foreign experts.
This was further strengthened when the Sora Gardens apartment project was started in late 2012, located in the overall project of Tokyu Binh Duong garden urban area in Thu Dau Mot City, headed by Becamex Tokyu Co., Ltd. from the same situation.
It can be seen that, in the first half of the previous decade, although one of the provinces attracting the most foreign investment capital in the country, the first apartment projects appearing in Binh Duong faced many obstacles due to Reason likes living in the mainland of the people.
These apartment projects are located in Binh Duong but bordering the city. Ho Chi Minh City differs mainly from people who live and work in Ho Chi Minh City. HCM. But the projects located near the Thu Dau Mot city still face the hesitation of many people.
It is not until 2018 when the city government. Ho Chi Minh City conducted a legal review of real estate projects and partly because the land fund is not much, Binh Duong and other coastal provinces have just begun to emerge as “promised land” for apartment projects. .
Pioneering projects such as Charm Plaza, Sora Gardens and many other projects began to sell well, and along with that, the perception of people and investors about living in apartments has changed.
Booming the apartment project
Previously, Binh Duong was a solo venue for enterprises operating in the land plot segment with companies of the “Becamex family”. But in the past few years, Binh Duong has become more attractive and attracted many real estate businesses from other localities, and along with it are the big projects that first appeared in this locality. .
In the past few years, new faces have appeared in the apartment market such as Him Lam Phu Dong project in Di An city invested by Him Lam Joint Stock Company, or Marina Tower project located in Thuan city. An is invested by LDG Investment Joint Stock Company.
But recently, many new developers have begun to increase their market penetration speed.
At the end of February 202020, while the whole country was trying to fight the Covid epidemic – 19, Phat Dat Real Estate Development JSC silently broke ground for Phat Dat Grand View project in Thuan An city.
Phat Dat Grand View covers an area of 3.73ha, with eight 40-storey buildings, providing 5,000 apartments and a commercial and service complex. The project is located near VSIP 1 industrial park and AEON Mall, which is acquired by Phat Dat for VND 639 billion.
The investor plans to open Phat Dat Grand View in the last months of 2020 and this is considered to be the largest apartment project in Thuan An when this town has just been upgraded by Binh Duong to the city.
As part of the market expansion strategy, a corporation from Ho Chi Minh City. Ho Chi Minh City also chose Di An City to implement a 9ha project, consisting of six 19-storey buildings, providing 1,500 apartments and 54 commercial units.
Bcons Construction Investment Joint Stock Company prepares to launch the Bcons Garden project with four 29-storey buildings with a total of 1,776 apartments.
Tecco Southern Corporation is also promoting investment in an apartment project in Thuan An with 420 apartments.
In particular, TBS Land Investment Joint Stock Company is implementing two major projects in Binh Duong. This is a new face in the real estate market and is backed by TBS Group – a group specializing in manufacturing footwear for export.
The first project is Green Square Di An City located near the administrative center of Di An city with four 30-40-storey buildings, providing nearly 1,400 apartments. The second project, Ho Guom Xanh, is located in Lai Thieu ward, Thuan An city, in the overall “A Glimpse of Ho Guom” complex of 26.4 hectares.
In addition, Binh Duong also attracts many new investors, such as Ha An Real Estate Business Investment Joint Stock Company with Opal Boulevard apartment project and Chanh Nghia Quoc Cuong Joint Stock Company as the investor of project C – Sky View. T
huduc House is also preparing to invest in a project of a small-area apartment building on the 1.9ha plot.
Mr. Tran Van Hung, Business Director of Quoc Cuong Chanh Nghia Company said, if the city. HCM and other coastal provinces are somewhat quiet due to legal issues, Binh Duong is emerging as a potential locality for real estate development.
Typically, the attraction of foreign investment continuously increased, reaching USD 2.8 billion in 2015 and rising to over USD 3 billion last year. For many years, Binh Duong has always been the locality attracting the most foreign investment capital in the country.
Binh Duong has a population of 2.4 million, of which the number of immigrants working in 33 industrial parks is very large. Along with that, a large number of foreign experts come to work in industrial zones, leading to an increase in housing demand.
Compared to neighboring provinces such as Dong Nai, Ba Ria – Vung Tau and Long An, the infrastructure of Binh Duong connects to the city. HCM better. Like Pham Van Dong route connecting TP. Ho Chi Minh City with Binh Duong is very spacious and in the adjacent area like An Binh Ward, Di An City feels like you’re in the city. HCM. Besides, there are National Road 13 and Ben Thanh – Suoi Tien metro line.
It is these factors that have pushed the Binh Duong real estate market to change dramatically in recent years. When the price of land plots and terraced houses rises to a high level, this is an opportunity for condominiums to develop.
It is easy to see that in the past few years in Binh Duong, condominium projects in Binh Duong have often been developed along a large road linking to the city. HCM such as Highway 13, Highway 1K and located mainly in the areas of three cities Thu Dau Mot, Thuan An and Di An.
However, Mr. Hung also pointed out some limitations of the Binh Duong market as new people are getting used to apartment life so they need more time. Highway 13 connects to the city. HCM was overloaded, sometimes stuck in rush hour.
There is plenty of room to grow
Mr. Hung assessed that the Binh Duong real estate market still has plenty of room for development, because along with Ba Ria – Vung Tau, Binh Duong is also the locality with the most developed transportation infrastructure system in the South.
Not stopping there, in recent years, Binh Duong has constantly invested in improving the transport infrastructure connected to the city. HCM and other provinces such as the expansion of DT743 road, Highway 13, My Phuoc – Tan Van route.
Recently, Becamex IDC Investment and Industrial Development Corporation has announced the project of World Trade Center in Binh Duong New City. This is a complex of financial centers, international conferences, hotels … and has a station connected to the Ben Thanh – Suoi Tien metro line.
Realizing the potential of Binh Duong, right after the C-Sky Review project in Thu Dau Mot city was successfully launched, Chanh Nghia Quoc Cuong prepared to launch another project.
From the perspective of an expert, Mr. Su Ngoc Khuong, Senior Director of Savills Vietnam, said that Binh Duong and markets around the city. Ho Chi Minh City has a large land bank and lower prices, along with the strong development of infrastructure, which is becoming a destination for investors and buyers with real demand.
For institutional investors, they have a long-term vision, they have envisioned the urbanization process. As a result, many domestic and foreign businesses now own land funds of up to hundreds of hectares in suburban markets to prepare for construction when opportunities arise.
Mr. Khuong’s remarks once again affirmed what Mr. Tran Thanh Liem, Chairman of Binh Duong People’s Committee said before.
“The development of condominiums is in line with the urban development orientation of Binh Duong province, in order to build a modern urban space, use land effectively and meet housing needs of people,” he said. Liem speaks at a meeting of the People’s Council of Binh Duong province in the middle of last year.