The entire country’s real estate market is now quiet while Binh Duong gets animated with many large-scale projects on urban infrastructure development. Especially, many projects recently invested by foreign investors in this field have promised to create breakthroughs on the province’s urban development under the civilized, modern and sustainable trend.
Big projects implemented
Binh Duong has defined that industrial development must be associated with urban development. With synchronous infrastructure, 28 industrial parks plus many industrial compounds in the province have so far absorbed nearly 14,000 domestic investors and 2,100 foreign investors. The province has over time attached special importance to urban development in order to serve the local industrial development.
Urban
infrastructure development is now very attractive to foreign investors
Realizing that urban infrastructure development in Binh Duong have many great potentials, many foreign investors have bravely poured investment capital in this field. Particularly, Charm Engineering from the Republic of Korea (RoK) invested about US$200 mln to construct a 362,000sq.m Charm Plaza project on a total area of five hectares in Di An town.
The US$177 mln EcoXuan urban area project was also constructed in Thuan An town. Invested by the Setia Lai Thieu company, a member of the SP Setia Group (Malaysia), the 10.8ha project consists of houses in rows, villas, apartment buildings, communal houses, shopping centers, entertainment areas, water-based playing field for kids, and more.
Another major real estate project in Binh Duong is the US$200 million, 17.5ha The Canary located in front of Vietnam-Singapore Industrial Park 1 in Thuan An town. Invested by the Guocoland (Singapore), the project was designed to have 1,200 apartments together with many other services.
Prior to that, the 226ha, US$620 million EcoLakes My Phuoc was built in My Phuoc township. Invested by SetiaBecamex, a joint venture between SP Setia Berhad (a leading Malaysian real estate group) and Becamex IDC, the project has handed over many apartments to its customers since 2010.
Noticeably, the US$1.2 bln Tokyu Binh Duong Garden City, the province's biggest urban project and the biggest FDI project, began construction in March 2012. It is invested by the Becamex Tokyu Co., Ltd - a joint venture between the Becamex IDC and the Tokyu Group (Japan). The 71.5 hectare project will feature 7,500 apartments plus entertainment areas, shopping centers and offices. Tokyu Binh Duong Garden City was also designed to become an ideal place for businesses to operate in a new environment with modern infrastructure.
Many groups seeking investment opportunities
Investors said that Binh Duong’s success in economic development has created a great demand for urban infrastructure development and real estate fields.
With its strategic location and as an important gateway to Tay Nguyen (the Central Highlands) and western and southeastern regions, a satellite urban area for Ho Chi Minh City, a leading economic center in Vietnam and a province that is to become a centrally governed city in the coming time, Binh Duong has attracted many leading real estate investors.
Foreign investors were also increasingly visiting Binh Duong in search of investment opportunities. During their recent visits to Binh Duong, Deepak Gupta, Director of Romav Shipping Ple Co. and Kim Sik Soun, CEO of Space Group spoke highly of the province’s investment climate on urban infrastructure development and wanted to pour investment capital in this field.
According to Le Thanh Cung, Chairman of provincial People’s Committee, the province’s urban infrastructure development field now opens many potentials for investors. Provincial leaders will also create the best favorable conditions for investors getting involved in this field.
Reported by Trong Minh-Translated by K.T
