Billion dollar developments spur Ha Dong growth

By Phat Dat   November 22, 2019 | 08:00 pm GMT+7

The property market in Hanoi’s Ha Dong District has seen robust development on the back of strong infrastructure growth.

Hanoi’s west has proven to be a real estate hotspot, witnessing an explosion in residential property products. In the west, it is in Ha Dong where property prices are growing at the fastest pace.

Since it is being developed into a new satellite of the capital, there is massive investment in transport infrastructure with roads getting widened and the metro system built among others.

Roads getting widened and the metro system built among others in Hanois Ha Dong District.

Roads getting widened and the metro system built among others in Hanoi's Ha Dong District.

Thang Long Boulevard, built in 2010 at a cost of VND7.5 trillion ($324 million), is considered the backbone of this area. A number of other new roads developed at the total cost of hundreds of millions of US dollars have also changed the face of Hanoi's western region such as To Huu, Le Trong Tan, Ring Road 3, Le Duc Tho - Xuan Phuong.

Besides, urban rail routes No.3 (Nhon - Hanoi Railway Station), No.5 (Nam Ho Tay - Ngoc Khanh - Thang Long Boulevard - An Khanh - Ring Road 4 - Hoa Lac) and No.7 (Me Linh - Nhon - Van Canh - Duong Noi - Ha Dong) are being built at a cost of several billion US dollars.

Taking advantage of the infrastructure boom, real estate developers have been pouring in and gradually changing the outlook of this area. Ha Dong District is blooming with quality real estate projects on a significant scale, attracting both local and foreign investors.

Real estate developers have been pouring in and gradually changing the outlook of Ha Dong District.

Real estate developers have been pouring in and gradually changing the outlook of Ha Dong District.

The number of people from South Korea, Hong Kong, Japan, Malaysia, mainland China, and other places buying and renting luxury apartments in Ha Dong has been surging.

Expats living in Hanoi and in other provinces are also gradually shifting to this district as the living standard rises and more job opportunities crop up.

Raising the bar for living standards

According to the chairman of the Ha Dong people's committee, Vu Ngoc Phung, in the first half of the year, the industrial and handicrafts sectors in the district have been growing at a good rate. They are economic spearheads along with others like trade, tourism and services, helping restructure the local economy and creating tens of thousands of jobs.

Total first-half revenues from retail sales, trade, tourism, services, hotels, and restaurants in the district are estimated at VND36.76 trillion ($1.59 billion), representing 50 percent of the full-year target and up 116 percent year-on-year.

Ha Dong District recently established two new public schools that meet national standards to take its rate of quality public schools to 74 percent (66 out of 89).

With improved infrastructure and the relocation of headquarters of some state administrative agencies and companies to Ha Dong, the district promises to become the new city center of Hanoi.

With improved infrastructure and the relocation of headquarters of some state administrative agencies and companies to Ha Dong, the district promises to become the new city center of Hanoi.

Besides, it is gradually growing into an international enclave as most members of the Korean, Japanese and Chinese communities prefer to live in this area.

According to international real estate expert and managing director of Golden Emperor Properties, Kingston Lai, expats tend to live in a particular area and form their own communities.

As a majority of them come from developed countries, they have a certain living standard, which is very high, meaning if they choose a region to live in we can all rest assured it is THE place to live in, he emphasized.

In fact, demand for properties in the expat hub is always two or three times that of the rest of the market, and so most rational and experienced investors are always looking for such places and seizing any new opportunity that arises, he added.

Park Kiara, situated inside the mega township of Park City at the heart of Ha Dong District and developed by Malaysia’s top developer, Park City, is not only self-sustaining but also tailored with top-notch amenities and close to an MRT station, the BRT bus system, international schools, and AEON Mall.

Park City is an established, reputed regional developer with award-winning property developments in Malaysia and Vietnam.

For more information, please contact:

Golden Emperor Vietnam Head Office

Website: http://goldenemperor.com/vietnam-hanoi-park-kiara/

Hotline: (84) 93 108 88 08

 
 
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