A series of road constructions to neighbouring HCM City has caused the real estate market in Long An Province to soar.
|A series of road constructions to neighbouring HCM City has caused the real estate market in Long An Province to soar.– Photo cafebiz.vn |
The province has earmarked huge sums for improving transport connectivity with HCM City.
For example, it has widened 55km of DT830 road at a cost of VND 2 trillion (US$71.5 million).
The road links up with National Road 22 to run into HCM City at a point where there are many industrial parks like Tan Binh, Vinh Loc and Tay Bac Cu Chi.
Work on Belt Road No 3 passing through HCM City and Long An, Binh Duong, and Dong Nai provinces began last April.
In June BOT 830 connecting Ben Luc and Duc Hoa districts with the HCM City – Trung Luong Expressway opened to traffic.
“These transport projects will be an important link between Long An Province and many districts of HCM City,” Dau Tu(Viet Nam Investment Review) newspaper quoted the deputy director of the province Department of Transport, Nguyen Van Chinh, as saying.
“It will help develop the province and promote urbanisation.”
Real estate experts revealed that investors are now paying close attention to regions contiguous to HCM City like Duc Hoa and Can Giuoc districts in Long An because of cheap prices, many key national infrastructure works, and greenery and clean air, and easy connectivity to HCM City.
Him Lam Company has proposed establishing a 32,000ha open economic zone with technology-based agriculture, eco-residential areas, industrial zone, urban region, and an international port.
Van Thinh Phat Corporation has received approval for 36 projects on a total area of 2,100ha while Truong Hai Corporation will develop the 152ha Truong Hai International Investment Area.
Nam Long Corporation has started to develop the 355ha Waterpoint Urban Area in Ben Luc District at a cost of VND6.9 trillion ($302 million) in the first phase.
“The most favourable condition for Long An Province is it is located at the gateway to the Mekong Delta from HCM City. Convenient transportation to HCM City and cheap prices are two reasons for real estate growth in the province,” an expert on the industry Phan Cong Chanh, said.
Tran Duc Vinh, general director of real estate company Tran Anh Group said: “It is expected that in 2019 the Long An real estate market will see strong development when transport projects to connect with HCM City are complete.”