Want to be in the loop?
subscribe to
our notification
Business News
GOOD INFRASTRUCTURE GIVES A BOOST TO REAL ESTATE IN EASTERN HANOI
The realty market in eastern Hanoi is forecast to grow stronger than ever with important transport projects worth billions of dollars being built in the second half of the year.
According to experts, Hanoi’s eastern area has grown strongly over the past 10 years.
Transport projects, including the extended Highway No 5, the intersection of the Ring Road 3 with the Hanoi- Hai Phong and Co Linh motorway, and phase 2 of Vinh Tuy Bridge, will be built from 2020-24. Phase 2 of Vinh Tuy Bridge will cost a total of 2.5 trillion VND (106.5 million USD).
There are also plans for Tran Hung Dao Bridge, Giang Bien Bridge and Tu Lien Bridge in the area.
At the same time, as one of the largest realty developers in Vietnam, Vingroup has recently asked for investment policies to build two overpasses at the crossroads between Dong Du and Duong Xa streets and a highway adjacent to Vinhomes Ocean Park.
When the two overpasses are finished, they will form a modern traffic axis, creating flexible traffic flow from all directions connecting the entire city with the east of Hanoi.
Along with transport infrastructure, social infrastructure is also an advantage in the area. Facilities such as Aeon Mall, BigC Long Bien, Savico Megamall, Tokyo Medical Hospital and the upcoming Vincom Megamall Ocean Park will help attract residents.
The Prime Minister also adjusted the general plan for Hanoi, focusing on modern urban areas, as well as technical and social infrastructure in the eastern region, concentrated in the districts of Dong Anh, Gia Lam, Yen Vien and Long Bien.
Dang Hung Vo, former deputy Minister of Natural Resources and Environment, said: "The development of the east is reasonable. The area has both mountains and rivers, so it will not be flooded."
Vo forecast it will become a "hot spot" for real estate investment as it has a large land fund and increasing infrastructure development.
Popular market research firms CBRE and Savills confirmed that real estate in the area has been attracting the attention of investors and customers, adding the market will witness many projects launching in the next couple of years.
According to investors, the east is a potential area connecting the capital city with the northern economic centres such as Hai Duong, Hai Phong and Quang Ninh.
Source: VIR
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
EXPLORE HONG KONG WITH A COMPANION
From now until 19 August 2024, you can enjoy our exclusive Fly 2 Hong Kong offer on round-trip Economy flights from USD364^ for 2 persons, sponsored by Hong Kong International Airport. Bring along a travel buddy and experience together the excitement and charm of our vibrant home city.
![Card image cap](/uploads/news/Factory%201.jpg)
BUSINESSES INCREASE WISHES FOR SPECIALISED INDUSTRIAL PARKS
Data centres, industrial parks (IPs) reserved for high-tech production, and parks serving Chinese, the United States, Taiwanese, or Japanese investors are gradually being formed to welcome new funding waves, according to Truong An Duong, general manager of North Vietnam and Residential at Frasers Property Vietnam.
![Card image cap](/uploads/news/economic.jpg)
VIETNAM’S H1 ECONOMIC GROWTH QUITE IMPRESSIVE: ADB COUNTRY DIRECTOR
Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4 per cent in the first half of this year. The growth was mainly driven by strong trade recovery, where export grew by 14.5 per cent and import by 17 per cent over last year, he told the Vietnam News Agency. However, he said, the domestic segment remained sluggish.
![Card image cap](/uploads/news/Infrastructure13.jpg)
REAL ESTATE FIRMS AGGRESSIVELY RESTRUCTURING BOND DEBT
From the start of 2024 to July 5, the market saw 133 private placements and ten bond public offerings, totalling over VNĐ140 trillion. 65.6 per cent of this value was from the banking sector, while real estate bonds accounted for only 24.6 per cent, or over VNĐ34.5 trillion.
![Card image cap](/uploads/news/Eco2.jpg)
GOV’T UNVEILS ACTION PLAN TO ACCELERATE INDUSTRIALISATION
Vietnam aspires to become among the top three industrial powerhouses in ASEAN, with the industrial sector contributing over 40 per cent to GDP. The manufacturing and processing sector is expected to account for around 30 per cent of GDP, with a strong emphasis on high-tech products aiming for over 45 per cent of the sector's value. To further drive the economy, the service sector is projected to contribute over 50 per cent to GDP, with tourism alone generating 14-15 per cent.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).