» » Binh Duong woos real estate projects

Thanks to the booming foreign direct investment projects in local area, following a sharp increase in the amount of employees rushing to work in industrial zones, Binh Duong province has become an attractive destination for a lot of investors in the real estate sector.

Le Viet Dung, vice director of Binh Duong province department of planning and investment said the number of real estate investment projects in the local area has sharply increased with the appearance of many large, potential foreign investor with strong financial capacity.

Recently, a joint venture between Taiwan's investors has just received investment licence for the project of a new urban area in Thu Dau Mot Town with total investment capital of $1.7 billion.

Dung added that the quick industrial development process with various foreign invested projects had created large demands for housing, apartment and trade centre in the province.

At the beginning of this year, Becamex IDC Co officially began the project of Becamex City Centre in Thu Dau Mot Town with the purpose of meeting the demands for living conditions for the local people there. This project includes buildings of offices for lease, housing areas, hotels, shipping centres and recreation areas. It's expected that after being put into operation, Becamex City Centre will provide accommodation for nearly 4,000 people and working place for 20,000 people.

In addition to the two mentioned above projects, there are other projects in the middle of being built now in Binh Duong province. The EcoLake project was set up between SP Setia (Malaysia) and Becamex IDC Corp with total investment capital of $800 million and to be built on a site of over 200 hectares, which is considered the largest urban area project in Binh Duong province.

Guoco Land Vietnam Co, a member company of Guoco Land Limited Group (Singapore) is carrying out the project of The Canary Urban Area project in Vietnam-Singapore Industrial Park (VSIP) now. Meanwhile, Vietnam-Singapore industrial and urban area development Joint Stock Co is in the middle of constructing a new urban area in the local area on a site of over 1,000 hectares.

Khoo tech Chong, SetiaBecamex's general director remarked that Binh Duong province will become an attractive destination for real estate investors in the near future. He added that HCM City was expanding and the city's downtown area has become more and more crowded, while there were a lot of people working in Binh Duong province that had demands for a convenient living place near their working areas.

In fact, there has been an increase in real estate projects in Binh Duong province. Most of the apartment buildings and villas, which have been put into operation, have been sold out. For example, 99 percent of the apartments in OASIS project located in Vietnam-Singapore Industrial Park conducted by North Saigon International Joint Stock Co as the main investor have already been purchased by the specialists or staffs who are working in the factories in the industrial zone. At present, North Saigon International JSC is carrying out the second phase of the OASIS project.

Khoo Tech Chong remarked that in the next years when the traffic conditions are improved, the distance between HCM City and Binh Duong province will be shortened; the urban area projects in Binh Duong province will get more and more attractive for the real estate investors.

Source: VIR

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