Celebrities light the spark, igniting Ha Long real estate market
The real estate market in the coastal city of Hạ Long is becoming more vibrant and opening up rare, lucrative investment opportunities.
It’s not strange that famous actors, models, singers and other artistes perform at launching events or become brand ambassadors for real estate projects in the capital city of Hà Nội or the commercial hub of HCM City. But for an emerging market like northern Quảng Ninh Province, a music festival gathering several young, popular singers is rare.
This happened at the launch of the Mon Bay Urban Area, as a gift to future residents of the area, said Nguyễn Hải Đăng, general director of HD Mon Hạ Long.
The gift, worth billions of đồng, brought together artists like Cao Thái Sơn, Bảo Anh, Uyên Linh, Dương Triều Vũ, and Quảng Ninh-born singer Ngọc Anh in an extravagant music festival at the Hạ Long Square last month.
One real estate investor said the concert featuring young artists not only expressed a vision of the high class Mon Bay project investor, but also reflected the upbeat spirit of the real estate market in Hạ Long City.
There has never been a time in history when the city’s real estate market was so active. The whole city looks like a huge construction site with several large-scale projects in progress. Most of the big names in the country’s real estate field have made their presence known here, including Vingroup, BIM Group, Geleximco and FLC, attracting private investors from the northern cities of Hà Nội, Hải Dương and Hải Phòng. Local investors in the province, after a long hiatus due to the rarity of lucrative business opportunities, have also got back in the game.
According to Nguyễn Thọ Tuyển, general director of the real estate project supermarket system STDA, the Hạ Long real estate market is like a sleeping dragon which has been awakened, and now, is going through a spectacular transformation. The investment opportunities that were suppressed for years have come back to life, making the market all the more vibrant. And this is only its first growth period – the market will experience even stronger booms in the future, he said.
Investors who set foot in the market since it was in infancy, like Trần Đức Diễn, general director of Maxland, see the recent rapid changes of the world-wonder city more clearly than anyone else. According to Diễn, with the amazing transformation that it is going through, Quảng Ninh Province will continue to be the “promised land” for investors if its potential for real estate tourism, resort and entertainment is properly exploited.
Property values in Hạ Long City have been increasing in the recent years after the province implemented major infrastructure projects such as the maritime boundary Trần Quốc Nghiễn, the Quảng Ninh Museum-Library, the Cá Heo Planning, Convention and Exhibition Palace and the Quảng Ninh Square, as well as other private constructions like the Vincom commercial centre, the Vinpearl resort, the Wynham Legend hotel and the Nữ Hoàng gondola lift which has not yet opened for public use.
In the eyes of the experienced investors, real estate values of the city will experience a breakthrough after the traffic infrastructure, tourism and entertainment constructions like the Vân Đồn airport, the Hạ Long-Hải Phòng Highway, the Sun World Hạ Long Park and the Vân Đồn resort-casino are completed and opened for public use in the near future. Several local investors and those in the neighbouring areas have seized the early business opportunities.
According to Diễn, the emergence of real estate projects like Mon Bay has happened just in time to quench the investors’ thirst. Located at an ideal spot on the province’s most expensive maritime boundary looking out to the Hạ Long Bay, “Mon Bay is one of the most magnificent and valuable constructions in Northern Việt Nam with a very special potential,” Diễn said.
Diễn explained that the potential lay in the project’s golden position in the centre of the city – a position that has now become very rare with the city having only a few similar spots left. Mon Bay’s position has become even more valuable since it is right next to the province’s administration-culture-tourism centre.
With such benefits, it is understandable why several buyers have purchased Mon Bay’s villas, houses and apartments soon after its launch. The appearance of famous singers like Cao Thái Sơn, Bảo Anh and Uyên Linh was not only an exciting show for local residents, but also the spark that ignited the city’s real estate market.
Located in the centre of the Hạ Long City with a broad view of the world’s wonder Hạ Long Bay, Mon Bay urban area is the most anticipated real estate project in late 2016 and early 2017. The area includes 455 villas, townhouses, commercial townhouses and two apartment buildings. All have been granted the land use rights certificate under the Land Law (“red book”).
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