Thanks to well infrastructure facility and great potential, Binh Duong-based real estate attracts numerous foreign investors in the recent years. This optimistic signal shows a great prospect of local real estate.
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At IJC@VSIP urban area.
Investing in urban and housing areas
Over the past years, with advantages of being located at the Southern key economic zone and well equipped with infrastructure facility, Binh Duong attracts numerous potential investors of real estate field. This makes real estate experts be confident to strong development of local real estate in the coming time.
In the year of 2014, Binh Duong absorbs US$1.530bil in FDI capital, mainly in real estate area. Recently, VSIP Company poured about VND1,024bil into the project of 128ha IJC@VSIP urban area. This project was basically perfected infrastructure and attracted attention of clients. At present, IJC@VSIP has been sold with prices ranging from VND3-3.5mil per sqm.
This is the third project VSIP invests in Binh Duong after its success of the 500ha Vietnam-Singapore industrial park 1 and the 1,700ha Vietnam-Singapore industrial park 2. This project is highly evaluated by real estate experts, owing to its competitive prices.
Another foreign investor is the very GuocoLand Vietnam under GuocoLand Limited (GLL), headquartered in Singapore. GuocoLand invests nearly US$45mil into Binh Duong since 2006 to develop The Canary project. This project is zoned on the area of 175,000sqm, including 1,057 high-grade apartments with adequate conveniences such as entertainment complex, AEON Mall trade center, international school and more. In the year of 2014, Guoco Land continues to launch into the market Canary Heights high-grade apartment area.
Mr. Nakata Yasuyuki, general director of Becamex Tokyu Company said that Tokyu Corporation is investing in many trades, especially urban area. Arriving in Vietnam for investment, this corporation chooses Binh Duong for its future. This corporation invests US$1.2bil in building Tokyu Binh Duong urban area on the area of 700ha. According to this corporation, it will develop 10,000 apartments at Tokyu Binh Duong urban area, including apartments, land lots and villas within next 20-30 years.
Big opportunities
Mr. Lawrence Tham, chairman of the National Housing Organization Company said that 7 years ago, he realized Binh Duong’s growth capacity, especially real estate. Therefore, he persuaded investment funds from Singapore, Korea and so on to pour capital into projects located at Binh Duong.
Until now, Binh Duong has become one of the first provinces chosen by the company to launch the project of First Home Premium Binh Duong with the scale of 900 apartments in Thuan An town.
Many real estate experts said that after rapid development of industry, service, Binh Duong has at present developed strongly housing area for experts, employees and low incomers.
Binh Duong now has about 5,200 experts and hundreds of thousands of laborers, according to statistics of CBRE Vietnam. Meanwhile, Binh Duong has only 146 service apartments, 834 hotel rooms and 2,092 apartments for rent. These figure shows that Binh Duong are thirsty for apartments for laborers and experts.
Till Aug. 2013, Binh Duong has up to 49 projects, villas, street houses offering 11,000 apartments, gaining an average growth of 14% per year since 2009. All big projects are located at 5 main areas of Thu Dau Mot city, Di An, Ben Cat, Tan Uyen and Thuan An towns.
According to CBRE Vietnam, most of foreign experts hire apartment with conveniences such as swimming pool, shopping mall, gym room and relaxation area and more in HCMC and accept to take several hours to go to office. Therefore, creating high-grade apartments right at Binh Duong, next to industrial parks with adequate conveniences is a strategic step that investors are bounding for.
Reported by K.VINH – Translated by A.C
