Property

The southern province of Dong Nai has handed over nearly 200 ha of land to the Southern Airports Authority for implementation of the Long Thanh International Airport project, on a planned area of 5,000 ha. The first phase has acquired 1,500 ha of the 1,800 ha needed.

With an average GDP growth rate of 6-7 per cent in recent years, Vietnam is considered an ideal destination for investment compared to other regional countries, especially investment in real estate. According to Dr. Su Ngoc Khuong, Senior Director of Savills Vietnam, economic growth will remain difficult for the next two years, but funds are still available in the economy so investment in securities and residential real estate will continue to rise.

Southern Binh Phuoc province will reclaim 26,300 ha of land next year to develop 954 projects serving national defense and security and socio-economic development. It will also change the land use purpose of 105 ha of rice and forestry land.

With a scarcity of land in its inner city and construction delayed by Covid-19, difficulties in licensing issues have negatively affected the supply of villas and townhouses in Hanoi. It is forecast that the market will continue to experience a shortfall, with the West being better placed thanks to advantages in infrastructure.

South-central Ninh Thuan province is calling for investment in 67 urban, tourism, and resort projects in the 2021-2025 period, including projects with a total investment of more than VND3.5 trillion ($152.2 million). The province aims to develop tourism into a spearhead economic sector.

With construction recently getting underway, the MT Eastmark City complex will become a new high-end urban area in the heart of Ho Chi Minh City’s Thu Duc City once completed in the third quarter of 2024. Including seven commercial apartment towers and three social housing areas providing nearly 2,600 diversified products such as apartments, office space, and shops, the complex will be a “bright” spot in the exciting development of Thu Duc City.