Infrastructure wings real estate sector
It is not by chance that property investors have recently paid special attention to Ba Ria-Vung Tau province. Experts said Ba Ria-Vung Tau converges all favourable factors of time, land and residents to become a destination for big investors.
Ba Ria-Vung Tau province always ranks high nationwide in FDI attraction and State budget contribution. The province is planning to become the country’s leading oil, gas and seaport centre. The Cai Mep international seaport will become one of 19 seaports in the world being capable of receiving supertankers and other super-large ships.
According to experts, it is infrastructure that is the focus of the development. Located in a strategic location at the gateway to the East Sea, adjacent to Ho Chi Minh City in the southern key economic region, Ba Ria-Vung Tau is 90 minutes by bus to Ho Chi Minh City via Ho Chi Minh City-Long Thanh-Dau Giay express way and the expanded National Highway 51.
Furthermore, the Bien Hoa-Vung Tau highway is under construction, pushing land prices up, especially the frontage of the surrounding roads connecting with highway.
The Ben Luc-Long Thanh Expressway; the extended Highway 56, the bypass Hoi Bai-Chau Pha will connect the whole western area to Dong Nai, Tan Thanh and Ba Ria-Vung Tau easily. Additionally, construction of the Long Thanh international airport which is 15 minutes to Ba Ria-Vung Tau, also increased land prices. Meanwhile the Ho Tram airport is planned to serve tourism.
Investors say Vung Tau has huge potential for property development. However, what is taking place in the province has not matched its potential. This is an attraction to investors, helping Vung Tau draw the attention of many real estate businesses.
Which segment will be crowned?
According to the provincial Planning and Investment Department, the province has so far attracted 157 projects with registered capital of 35 trillion VND, 18 of which are foreign invested.
The Vung Tau Gateway project is the focal point of Vung Tau real estate market
Worthy of note is Vung Tau Gateway project invested by DIC. At the launching ceremony on October 27, the project attracted over 1,700 customers and investors. More than 1,000 apartments were traded within the first hour after the launching.
With favourable location connecting the city’s centre and the effective provincial transport system, the project’s attraction has sky rocketed due to convenience and accessability. It takes 1hr40m to travel from the project to Ho Chi Minh City and 1.5 hours to the Long Thanh airport. The project’s residents can travel easily to a vast range of activities and amenities within a 2 km radius, such as the Paradise Golf course, Long Cung and Chi Linh sea tourism areas, schools and Lotte Mart.
Overall 3D perspective of Vung Tay Gateway project
Green environment, luxurious and convenient facilities are other factors attracting customers.
It is said that the Novaland Group, after receiving the provincial People’s Committee approval to set up an investment plan in principle, is preparing a plan for a Safari in Xuyen Moc district and the southwestern eco urban area to submit to the Standing Board of the People’s Committee in November and December this year.
A planned corner of Safari Ho Tram proposed by Novaland to the local authorities
Earlier, the Tuan Chau group proposed a 400ha super resort project. The Sun Group conducted a survey and study on a resort project in Dinh mountain area. FLC and BRG are planning to enter the potential market.
Property experts said these projects have stirred up the real estate market in Ba Ria-Vung Tau, making it a resort paradise in the southeast region. It is predicted that the price of property will have good chances to increase.
