Investment capital amount of $15.3 billion to be poured into real estate in Hanoi
By Hoa Dang
June 30, 2018 | 05:24 PM GMT+7
An array of the modern mega-projects has ever been launched in the north, east and west of Hanoi.
Numerous large-scale real estate projects along the Nhat Tan - Noi Bai axis have started
Hanoi has become a hotspot in drawing huge flow of investment. The city presented in-principle approval and investment certificates to 71 projects worth over US$17.5 billion including 11 FDI projects valued $5.67 billion at the annual conference "Hanoi 2018 Investment and Development Cooperation" recently held.
In particular, the Smart city project worth $4.12 billion invested by the joint venture between Vietnam’s real estate developer BRG Group and Japanese-based Sumitomo Group was licensed.
Lotte Mall project invested by South Korea’s Lotte Group was granted investment license. This commercial center covering a total investment capital of $585 million is located in Ciputra urban area.
In addition, Nidec Motor Vietnam got approval from the city to invest in a motor and electronic equipment factory with a total investment of $198 million while Heineken raised the investment capital of its brewery to $209 million.
Two environmental projects have been approved in principle, including the Xuan Son waste-to-electricity plant project which has an investment capital of $89.5 million and is jointly invested by T&T Group and Hitachi Zosen Corp (Japan) and the municipal waste-to-energy plant project at the Xuan Son waste treatment Complex invested by Indovin Power Co., Ltd. with the capital of $59.6 million.
These 71 projects are involved in the fields of transportation, environment, industry - commerce - service - tourism - entertainment sports, housing, urban area, education and training.
However, real estate sector leads in attracting investment. According to the preliminary statistics of TheLEADER, real estate sector accounts for up to $15.3 billion, equivalent to 90 per cent of value of these 71 projects.
Apart from Sumitomo Group's project, there are also unprecedented megaprojects. Tay Mo - Dai Mo urban area located in Nam Tu Liem district is invested by West Hanoi Urban Development Investment Joint Stock Company at a cost of $3.5 billion.
Gia Lam Urban Area situated in Gia Lam District is invested by Gia Lam Investment and Urban Development Co., Ltd with the capital of $3.81 billion.
Moreover, major urban projects which run along the Nhat Tan - Noi Bai axis have also started.
The project Core5 Hai Phong from Indochina Kajima and Itochu Corporation will deliver approximately 80,000 square metres of world-class ready-built factory for lease, handover expected in the first quarter of 2027.
A decade of relentless apartment price growth has pushed the dream of homeownership further out of reach for Vietnam’s middle- and lower-income earners.
Essensia Parkway makes significant impact in the high-end real estate market as 100 per cent of the limited collection was successfully registered within just a few hours at the launching event with the theme “Live lux-well, in a truly refined world”.
Essensia Parkway is set to mark a significant milestone as the first branded residences project in Ho Chi Minh City to be operated by WorldHotels – one of the finest portfolios of independent hotels and resorts within BWH Hotels.
