Can Gio district in HCMC and Nhon Trach in Dong Nai province have become new destinations for many investors, thanks to infrastructure development in the areas.
The real estate developer community was stirred up in early August by the news that Dong Nai People’s Committee proposed replacing the HCMC People’s Committee to call for investments in the Cat Lai Bridge project, which connects district 2 in HCMC and Nhon Trach district in Dong Nai.
The news about the plan to build the Binh Khanh Bridge which connects Nha Be and Can Gio was also discussed by southern real estate developers.
The report of the Dong Nai Transport Department showed that the Cat Lai Bridge will have the total length of 3,782 meters and estimated investment capital of VND7.2 trillion.
Once Cat Lai is built, it will help shorten the time needed to travel from HCMC to the provinces in the eastern part of the southern region. This will allow large urban areas such as HCMC and Bien Hoa to ease pressure on infrastructure and population.
There are eight operational industrial zones in Nhon Trach district which have the occupancy rate of over 80 percent, attracting 120,000 businessmen, specialists and workers.
Real estate brokers in Nhon Trach said that with the building of Cat Lai Bridge, the land price in the area would escalate from now till the end of the year, possibly by 30 percent compared with earlier this year.
Over the last two years, foreign investors have acquired many properties in Nhon Trach. These include Dai Phuoc Lotus, covering an area of 200 hectares, initially belonging to the joint venture of VinaCapital and DIC.
After 10 years of project implementation, the joint venture completed infrastructure and house items at Dai Phuoc Lotus. However, China Fortune Land Development (CFLD) in April 2017 unexpectedly bought Dai Phuoc Lotus shares from VinaCapital for $65.3 million.
CFLD has built Swanbay villas in Dai Phuoc Lotus.
Prior to that, in September 2016, CFLD signed an MOU with Vietnam’s Tin Nghia Corporation on the building of a new industrial city and Ong Keo Industrial Zone. Both projects are located next to the Long Thanh International Airport, which will be built in the near future.
Can Gio attracts tycoons
Economists said once Binh Khanh bridge becomes operational, Can Gioi will become a ‘hot spot’ of the real estate market where a lot of resort real estate projects will arise.
The Can Gio sea-encroaching tourism complex is under construction,, which covers an area of 2,870 hectares.
Tuan Chau Group plans to build a modern resort in Can Gio, while Thu Duc House plans a residential quarter and resort complex in the island district.