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Billion-USD projects make 2019 promising for property market

The real estate market is expected to gain momentum in 2019 thanks to the heat from several billion-USD property projects that received investment certificates in previous years.
Billion-USD projects make 2019 promising for property market ảnh 1A graphic image of a mega smart city project that spans 272 hectares in Dong Anh district, Hanoi (Photo: cafef.vn)

Hanoi (VNA) – The real estate market is expected to gain momentum in2019 thanks to the heat from several billion-USD property projects that receivedinvestment certificates in previous years.

One of the biggest projects is the construction of a mega smart city spanning272 hectares in Hai Boi commune, Dong Anh district, Hanoi, with total investmentof nearly 4.2 billion USD. Its investors - Vietnamese BRG Group and Japanese-basedtrading company Sumitomo - aim to build it into the largest smart urban area inthe Southeast Asia.

The investors proposedestablishing five companies to execute five component projects, which arescheduled to start this year and be completed in 2030.

In the first phase, the Sumitomo-BRG joint venture will pour over 1 billion USDinto facilities on an area of over 73 hectares.

Once completed, thesmart city is expected to bring great impacts on the real estate market inHanoi.

In the northeastprovince of Quang Ninh, the Vision Transportation Group(VTG), Hai Dang JSC, and Sunny World Property Development Corp Businesses proposedthree large-scale projects with total investment amounting to 10-15 billionUSD, in Van Don island, which is targeted to become a special economic zone.

Those include a high-speed railway route linkingMong Cai and Van Don, the Hon Net - Con Ong complex of seaport, industrial andurban areas, and the urban complex in the north of Cai Bau island.

The proposed Van Don - Mong Cai railway will havea length of 100km, connecting Mong Cai border gate with Van Don specialeconomic zone, with the central station located at the North Cai Bau urbancomplex. It will be used for passengers and improve transportation.

Meanwhile, the Hon Net - Con Ong seaportproject, worth 1.2 billion USD, will span a total area of 500ha. Theconstruction of the port system would be done in phases. In the first stage, awharf with length at 350 – 400 meters will be developed to accommodate the 150,000DWT (Deadweight Tonnage) vessels.

The urban complex in the north of Cai Bau islandwill include a residential area and shopping and service areas on 5,000 ha ofland. It will be connected to Van Don Airport and the railway route and the VanDon Heritage road in the southern part of the island.

Meanwhile, Banyan Tree Holdings Limited receivedpermission to double its investment in Laguna Lang Co resort complex in ThuaThien-Hue province in April 2018. Accordingly, the firm would increase itscharter capital from 175 million USD to 300 million USD and its investmentcapital from 875 million USD to 2 billion USD to add casino business and otherfacilities.

The project has put into use the Angsana Lang Co hotel with 229 rooms and agolf course with total investment of 230 million USD. Nearly 300 million USD isbeing poured into a five-star hotel, 50 retail shops, and 249 villas.-VNA
VNA
#real estate market #billion-USD property projects #mega smart city #Vietnamese BRG Group #Japanese-based trading company Sumitomo #Van Don island #Van Don-Mong Cai railway #Banyan Tree Holdings Limited #Vietnam News Agency #Vietnamplus
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