Dong Nai opens doors to property

Most recently, Tin Nghia Group’s Phu Tin Company inked a business cooperation contract with Kim Oanh and unveiled the launching of Bien Hoa Dragon City, based in the province’s Bien Hoa city.
Kim Oanh Company pumped VND200 billion ($9.5 million) into Phu Tin Company to turn 33 hectares into a mix-used development with a trade centre, terraced-houses, living blocks and many other facilities.

In the first phase, Bien Hoa Dragon City will roll into market more than 300 land plots measuring 5x20m and 7x20m each.

Earlier, Hoang Anh Saigon aired its plan to put on sale Bien Hoa Riverside Garden land plot project with An Hung Phat as developer.

The 16ha project in Bien Hoa city will consist a wide range of land plots for villas, terraced-houses and hi-rises building.

Similarly, Ho Chi Minh City-based Dat Xanh Group is about to open for sale some segments under Suoi Son and Ho Thien Nga new urban complexes in Trang Bom district.

Developer Nhon Trach Investment Joint Stock Company of Nhon Trach district’s east Saigon new urban area project unveiled in early 2012’s second quarter the company would launch model houses and open the project for sale.

East Saigon is considered a mega housing project in Dong Nai when it covers 1,000ha and involves $6 billion investment.

Dong Nai province now accommodates over 260 new urban areas and residential projects mainly positioned in Long Thanh, Nhon Trach, Bien Hoa and Trang Bom districts. Hoa Sen Dai Phuoc new urban area project is one among them which is developed by a joint venture between VinaCapital and Vina Dai Phuoc Company.  

The project covers 200ha and costs more than $400 million in investment capital. Another project is  Nhon Trach new city centre project developed by Malaysia-based Berjaya Land Berhad covering over 600ha and worth $2 billion.

According to Dat Xanh Group’s chairman Luong Tri Thin, since Dong Nai was a Ho Chi Minh City backyard, it had enormous potential for property market development, especially when Ho Chi Minh City is making strenuous efforts to ease excessive population in city’s inner areas.

“When infrastructure system becomes perfect within the next decade, the demand for housing of Vietnamese people will be like in developed countries. More people would head to the suburbs to enjoy fresh air away from noisy and polluted cities,” said Thin.