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Infrastructure lifts south HCMC property market

Update: December, 23/2017 - 10:57

Viet Nam NewsHCM CITY – Southern HCM City is becoming very popular with property developers thanks to the many infrastructure works planned for the area.

The Việt Nam Highway Investment Corporation is now speeding up the last three contract packages for the Bến Lức – Long Thành Highway so that it can open to traffic in 2020.

It will link up with the national highway system and Long Thành International Airport.

Many other projects have been approved, including the Nguyễn Văn Linh-Nguyễn Hữu Thọ interchange and widening of Nguyễn Tất Thành Street in District 4.

Construction of the Rạch Đĩa and Long Kiểng bridges will be completed early next year.

Lê Văn Lương Road, a key link between HCM City and Long An Province, will also be widened.

Metro line No 4 will run completely in the south.

Many analysts said this part of the city has seen the best urban development.

Lê Hoàng Châu, chairman of the HCM City Real Estate Associations, said infrastructure has played a key role in this development.

He told Sài Gòn Giải Phóng (The Liberated Sài Gòn) newspaper that since the south of the city is under pressure from people flocking here, authorities have no choice but to pour money into developing infrastructure.

Property investors make beeline

The rapid infrastructure development has attracted many housing projects, hospitals, schools and malls.

Dương Tuấn Tú, chairman of Tuấn Long Company, told Sài Gòn Giải Phóng that his company plans to develop a few projects in the area since it has a lot of potential.

At the end of this month, the company would continue to sell apartments in its Green Life project, he said.

Hưng Lộc Phát Real-estate Development Company said to take advantage of all the new infrastructure, at the beginning of next year the company would sell units in its Green Star project on Phạm Hựu Lầu Street.

The project will have 100 villas and houses and 1,000 apartments.

Another developer announced plans to sell 4,000 luxury apartments on Đào Trí Street in Nhà Bè District.

According to Lê Tấn Trung, general director of Bảo Khang Real Estate, since there are many foreign schools in the south, foreigners choose to live there.

Đinh Thế Hiển, an economist, said that most of the housing projects in the south are co-ordinated with the overall urban plan. Thus, along with infrastructure, these projects have created a new face for the south.

Besides existing projects, there are also many investors seeking the right to develop new ones, he added. VNS





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