Luxury apartment prices soar in Hanoi amid supply shortage
The supply of luxury apartments in central Hanoi is becoming increasingly scarce, pushing starting prices to new highs.
Quang Ninh province is working on a plan to develop a megacity project, demonstrating its ambition to turn it into a new dynamic city at a global level.
The project located in Quang Yen town names Green Bay Ha Long megacity project which has a total size of 7,124ha running along Hanoi - Hai Phong highway, adjacent to Hanoi - Hai Phong highway in the North, besides Hot river and Ha Long Bay in the East and South, and close to Chanh river in the West.
A huge benefit also comes with this project as it will connect a series of major roads that have been developed in Quang Ninh province such as the sea route linking Ha Long city to Cam Pha, Hai Phong - Ha Long city highway, and the tunnel through Cua Luc Bay.
People’s Committee of Quang Ninh province approved the zoning plan at the rate of 1/5000 of this project in early November 2017. Accordingly, Green Bay Ha Long is a typical multi-purpose complex with coastal city character, associated with an ecological resort, golf course and services.
Green Bay Ha Long is oriented to be a modern and synchronous development that takes into account the preservation of traditional historical relics, utilizing the landscape of natural elements and ditches.
The planning area combines functional areas such as residential land, public work, healthcare, services, education, administration, greenery, sport facilities, golf course etc.
Green Bay Ha Long is expected to be a new dynamic city at a global level, which will drive the development of Ha Long city, Quang Yen and Quang Ninh.
Quang Ninh province is urgently completing the preparatory steps to invest in this project to decrease the traffic pressure on the National Highway 18 passing through Ha Long city and Cam Pha.
Standing Committee of Quang Ninh province also agreed to invest in the tunnel project through Cua Luc Bay to reduce the traffic pressure for National Highway 18A passing through Bai Chay bridge as well as the inner city traffic.
Meanwhile, the route project connecting Ha Long city city to Bach Dang bridge has a length of 19.8km, with a total investment of over $280 million funded by the provincial budget has basically completed. As for Bach Dang bridge connecting Quang Ninh to Hai Phong, which is 5.4 km, is also estimated to finish this year.
Apart from Green Bay Ha Long, Amata Group, a Thailand investor, has officially come to Quang Yen. By the end of March, the head of Quang Ninh province granted a certificate of investment registration for Amata Group to implement the infrastructure of Song Khoa Industrial Zone on a 714ha area, with a total investment of $155 million.
This industrial zone is the first phrase of the smart city project that Amata is expected to build with the total investment of $1.6 billion. Phrase 2 will have a total investment of $1.45 billion, which is used for developing smart city with a range of projects associated to energy, community, environment, education, and manufacturing.
The formation of the highway linking the northern economic development triangle,which is Hanoi - Hai Phong - Quang Ninh, also made Quang Yen caught the eyes of some big investors.
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