Dong Nai Real Estate Market 2011 Begins with Big Projects

Dong Nai Real Estate Market 2011 Begins with Big Projects

In 2010, Dong Nai marked a significant growth in real estate market with a series of projects high appreciated by customers such as Dau Giay living quarters, Green Valley urban area. In difficult time of the economy and real estate market, those are bright spots and hope of the clients in the future of Dong Nai real estate market.

In the past few years, Dong Nai has established its strategic position in economic growth, industrialization, urbanization as well as large-scale planning. In 2010-2015, Dong Nai province will accelerate the development of infrastructure with the expansion of highways 51, HCMC - Long Thanh, Dau Giay- Phan Thiet, 1A – Bien Hoa, Long Thanh international airport, Song port, water supply and drainage network and other services.

In 2011, big companies Sonadezi, Tin Nghia, DonaCoop, Toan Thinh Phat, D2D and FDI companies asVinaCapital, Keppelland, Berjayar will change the face of the province with apartment buildings, commercial centres and industrial zones. In particular, there will be projects of big size with good planning and harmonious view.

For instances, Bien Hoa City Square built by joint venture between D2D and Berjayar occupies 2.5 hectares in Bien Hoa City centre with apartment buildings and trade centre; East Saigon urban area with 940 hectares and investment capital of US$6 billion for 150,000 people in Nhon Trach; Bien Hoa 1 industrial zone will be transformed into a modern urban area of 335 hectares; Long Hung urban area of 1,170 hectares and worth US$ 9-12 billion alongside Dong Nai river and Highway 51; Son Tien bio-sphere city of 374 hectares and US$600 million – an amusement park for the whole country.

If in the past, geographical location was the first consideration for building projects, now infrastructure and good planning and designing are most attractive to real estate projects. Customers are willing to go longer distance to live in beautiful houses with better environment. Nevertheless, prices remain most important factors. After the price hike in 2007 and early 2008, investors have changed from seeking big profit to new strategy of sharing the interests with clients. Reasonable prices and transparency have drawn clients to the real estate market. It has reactivated Dong Nai real estate market this year.

In recent years, Dong Nai has always led other provinces in economic growth rates accounting for 4 percent GDP of Vietnam, and ranking 5th in budget revenue. In 2010, in spite of economic recession in Vietnam and the world, Dong Nai maintained an economic growth rate of 13.5 percent, almost double that of Vietnam, FDI stood at US$1.5 billion, domestic investment of VND52,000 billion, twice that of the plan.

Reported by Van Luong | VCCI News