Property market on fire in south

In Binh Duong province, in late August Kim Oanh Real Estate Joint Stock Company and Binh Duong Trade and Development Joint Stock Company (TDC) began to sell property under the City Garden project.

The project, positioned in the My Phuoc 4 urban area covering 55 hectares, features diverse properties such as apartments, detached housings, villas and a trade centre. The land plot was offered at prices starting from VND1.7 million ($82) per square metre.

A pipeline for other property projects is proposed for rollout in the near term in the province. For instance, in early September An Cu Lac Nghiep Real Estate Company will roll 100 land plots in My Phuoc town’s IJC Commercial Town into the market.

The VND450 billion ($21.7 million) project, a component of the new Binh Duong city project developed by Technical Infrastructure Development Joint Stock Company (Becamex IJC), covers 43,923sqm with around 300 land plots.

According to the project’s exclusive distributor An Cu Lac Nghiep Co, customers registered to buy over 90 per cent of products proposed for sale in the first rollout.

Also in early September, Becamex IJC and Tac Dat Tac Vang Company Limited will offer for sale the Green River, a trade centre and regional market complex.

The Green River consists of two street facing commercial housings, around 200 market kiosks and a trade centre with hi-end restaurants, cafes, fashion, electronic and jewel shops. Once in place, the area would become one of Binh Duong’s most bustling business areas.

In Dong Nai province, also in early September Ho Chi Minh City-based Dat Xanh Group, one of leading players in local property market, will introduce to the market its Suoi Son urban area project.

Nearby Giang Dien Waterfall Eco-Tourism Park, the project has great potential for development.

The VND4.575 trillion ($221 million) project will be implemented in three phases with key products on offer being villas and detached houses covering 117ha.

Also in the same period, the Pacific Property and Infrastructure Development Joint Stock Company (PPI) and Thu Duc Housing Development Corporation (Thuduc House) will launch $15.2 million second-phase Long Hoi City in Long An province.

Over 100 land plots for villas and housings covering 26ha will come into the market by that time in the first rollout with prices starting from VND2.95 million ($142.5) per square metre.

The project, positioned next to Ben Luc district administrative centre, was expected to kick-up Long An province’s property market.

Kim Oanh Company’s general director Dang Thi Kim Oanh said the property market in Ho Chi Minh City’s neighbouring locations like Binh Duong, Dong Nai and Long An could still captivate the attention of scores of investors thanks to soft property prices, flexible payments and fairly developed local infrastructure and transport systems.

Dat Xanh Group chairman Luong Tri Thin said at a time when it was hard to predict financial market movement, while the securities and foreign exchange market were quiet, investors would look at the property market as a safer investment haven.

Besides, the property price in these southern locations still remained soft, said Thin.