Why real estate giants heading to Long An?

In a recent seminar, Tran Khanh Quang, a real estate expert said that among the surrounding provinces, Long An has the highest connectivity with Ho Chi Minh City, of which Duc Hoa and Ben Luc areas have good potentials for real estate development. Real estate giants have made sure townships are built in these areas to attract buyers.

The expert believes that when browsing a property, buyers should consider the obstacles of that area. For example, in Duc Hoa (Long An), Vingroup has got approvals for 2 projects, a 200-ha project in Hau Nghia and a 900-ha residential project in Tan My. In Ben Luc, Nam Long is the main player with the 355-ha Waterpoint.

This construction has been aggressively invested and some parts have been completed in the past year, which drew residents to the township, creating a new worth-living township in Long An. In the coming time, Nam Long will continue to develop other portions of this major project.

According to Quang, it’s the Real Estate giants who will ensure this area is well developed, build townships and attract people to this area.
"In the neighborhoods of Ho Chi Minh City, Long An has a close connection with Ho Chi Minh City. Duc Hoa and Ben Luc areas have good potentials for real estate development. Thus, Long An real estate is a good investment choice in the near future ", Quan emphasized.

Dr. Dinh The Hien, a financial expert, also said in the seminar that he would spotlight Ben Luc and Can Giuoc - Can Duoc when talking about Long An.

In Can Giuoc - Can Duoc, the short distance to Hiep Phuoc port in Ho Chi Minh City previously caused a land fever. This initial plan was to build a deep sea port, but later did not go through, causing property prices in this area to drop slightly. However, if river routes to Ho Chi Minh City are well built, Hiep Phuoc seaport can still welcome vessels of 5,000 - 10,000 tons and real estate development potential in this area will be retained.

Some major projects of real estate giants are making Long An attractive

As for Ben Luc, the area has many large urban projects, the beautiful Vam Co Dong river and quite flat ground. In particular, this place suits specifically for industrial park 4.0, which cannot be built in HCMC due to land shortage. According to Hien, in the near future, with the Ben Luc - Long Thanh expressway, Ben Luc can be upgraded to a City with two factors: a residential area next to Ho Chi Minh City or a great potential for light and 4.0 industrial park development.

Sharing the same point of view, Vo Huynh Tuan Kiet, Director of CBRE Vietnam's housing division said that Long An has convenient traffic to Ho Chi Minh City via Ho Chi Minh City - Trung Luong Expressway or under-construction Ben Luc Long Expressway. These highways create the driving force for the real estate market. According to Kiet, besides industrial real estate, residential real estate will also grow. Many investors have started deployment recently although they have had the land for many years. It’s the new projects that brought investors to this area.

He emphasized that Ho Chi Minh City currently has a shortage in land supply, therefore the surrounding areas have more opportunities to grow. Long An is a new investment opportunity for investors. There will be many new projects in this market and investors will have more options in 2021.

Majority of industry experts believe that Long An is currently thriving thanks to the complement of infrastructure and the strong development of industrial real estate, leading to the development of residential real estate. In particular, large well-planned urban areas with full facilities are attracting both living and investing demand to areas such as Ben Luc and Can Giuoc. In the future, these projects are expected to bring stable and sustainable income for investors.

Indeed, in addition to the geographical advantage, Long An also has quite convenient routes to other provinces thanks to a synchronous traffic system. According to Savills Vietnam representatives, the neighboring provinces of Ho Chi Minh City such as Long An or Dong Nai have become increasingly attractive when a series of infrastructure projects are completed in the next 3 years.

In Long An, major transportation projects are in progress including Ben Luc - Long Thanh, Ben Luc - Hiep Phuoc expressways, Nguyen Huu Tho - Nguyen Van Tao expansion, etc. In addition, the growth of industrial zones in Long An will draw large investment into the province and the demand for high-end properties will also increase. Currently, Long An has 32 industrial parks approved by the Prime Minister with a total area of more than 11,500 hectares. The occupancy rate of industrial zones in operation reaches nearly 87%.

Long An sets the goal for 2021 for urban development is sustainability and enhancing urban management quality. Specifically, Long An will effectively carry out the urban development program, in which urban architecture must ensure quality, vision, synchronization and adopt a sustainable, ecological and smart urban approach.

According to the Vietnam Association Of Real Estate Brokers, Long An is a neighbouring province of Ho Chi Minh City where real estate projects are especially attractive to investors. Some projects have good potential, with selling prices ranging from VND 21-28 million/m2; other areas have average prices of VND 13-15 million/m2. This is a considerably comfortable price range compared to other satellite cities of Ho Chi Minh City, while the province’s potential for future development is highly rated by most industry experts.

Source: CafeF