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In 2018, HCMC real estate benefited from large transportation projects

My Thuy intersection

In 2018, a series of major transport infrastructure projects are expected to be completed and put into use, thereby creating a “kick” for the real estate sector that is deemed to be unsuitable for development. traffic congestion

Open knots at the gateway to the city

Mr. Nguyen Thanh Phong, Chairman of HCM City People’s Committee, said that the development of transport infrastructure is in 7 programs of the city’s renovation period from 2016 to 2020. In which, capital budget to build infrastructure The implementation of the program to reduce traffic congestion in 2017 is more than VND11,000 billion, the accumulated value of 2016-2017 for two years is more than VND20,000 billion, reaching 33.6% of the plan for 2016-2020, the remaining capital The period from 2018 to 2020 is nearly VND 50,000 billion.

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Phong said that the biggest priority for 2018 is to build roads such as gateways to the city, radial roads, especially Cat Lai, District 2 and Tan Son Nhat International Airport, Tan Binh District.

In 2017, Ho Chi Minh City has ground-breaking large transport projects gateway to the city center and these projects will be completed in 2018. For example, in May 2017, Ho Chi Minh City constructed two underground tunnels on two parallel roads of Hanoi Highway at the intersection of Station 2 (District 9 – Thu Duc) with the total cost of VND 165.4 billion , expected to be completed in the third quarter of 2018.

As part of the project to expand Hanoi Highway, the construction of the parallel road section of Hanoi on the left has a total length of 780 m, of which the tunnel length is 92 m. The right side of the road has a total length of 1,020 m, in which the tunnels are 120 m long. The 13.5 m wide tunnel includes an office curb.

In January 2017, an underground tunnel in An Suong District 12 was officially demolished. The project consists of two underground tunnels, of which the N1 tunnel (towards the city center to Tay Ninh) on Truong Chinh road is 140 m long and 22 m high on National Highway 22. Tunnel N2 on Highway 22 is 120 m long, Truong Chinh road is 140 m long.

An Suong intersection
The actual image of An Suong intersection

Each tunnel will have two lanes of traffic, including one car lanes and one mixed lanes. An Suong tunnel project has total investment of VND 514 billion and will be completed after 20 months of construction for both periods, which will be inaugurated this year.

An Suong traffic junction is the intersection between two important axes of Trans-Asia Highway (National Highway 22) with Truong Chinh Street and Ring Road 2 (National Highway 1A).

In addition, in the year 2017, Ho Chi Minh City also put into operation many large transport infrastructure such as the expansion of Hanoi highway linking the South East to Ho Chi Minh City. Open a bridge over the bridge crossing six Go Vap, through Nguyen Thai Son overpass, Nguyen Kiem connecting Tan Son Nhat Airport.

In addition, Bui Xuan Cuong, director of the HCM City Department of Transportation, said that in 2017, of the 37 traffic jam points, only 4 points were removed, 24 points changed, and the remaining 9 complex point. According to Cuong, in 2017, the city has built 106 km of roads, 21 bridges.

“According to the steering committee of HCM City People’s Committee, in 2018, the Department will accelerate the implementation of the key transport infrastructure projects to solve the traffic jam in the area.

The projects will be accelerated in 2018 including East-South traffic projects, including Ho Chi Minh City-Long Thanh-Dau Giay high-speed parallel roads, Ring Road 2 (from Phu Huu Bridge to Gò Dưa intersection, An Thuy intersection, An Phu intersection).

My Thuy intersection
My Thuy intersection

To the south west, including Binh Tien bridge project, closed Ring Road 2 – from An Lac to Nguyen Van Linh, upgrade and expand Nguyen Huu Tho, four steel bridges on Le Van Luong, – South (from An Suong to Hiep Phuoc Industrial Zone) and radial routes such as National Highway 1, 13, 22, 50.

Besides, Nguyen Thuy bridge, Thu Thiem bridge 2, 3, 4 will be deployed.

A number of other projects are being implemented to complete in 2018, such as projects to reduce congestion in Tan Son Nhat airport area (including 6 works such as renovation of Cong Hoa street from the alley 2 Tran Quoc Hoan street to Thang Long street, widening Hoang Hoa Tham street from the military camp gate to Cong Hoa street, building a road linking Tran Quoc Hoan – Cong Hoa); In Cat Lai Port (15 works, such as construction of My Thuy intersection, connecting road from port to Ring Road 2 and upgrading and finishing of Ring Road 2), Mr. Cuong said. .

According to the information of the HCM City Department of Transport and Communications, in the first quarter of 2018, the city will commence 22 new road projects. In particular, the Department will prioritize investment projects components of the Ring Road 2, the road linking the highway Ben Luc – Long Thanh, Highway 50 connecting Ho Chi Minh City with Long An province.

The real estate market in the East
The real estate market in the East benefited from transportation projects

Previously, in the South, in 2007, when the city prioritized the development of transport infrastructure in this area, the real estate market here also developed strongly.

“Through the above examples it can be said that the owners, brokers as well as customers are sticking to the signal to develop new transport infrastructure to make decisions. In 2017, the city began to shift the development of transport infrastructure to the outskirts, also from the coastal real estate thrive.

In the task of developing the city’s traffic in 2018, more projects will be launched or inaugurated in 2017. This is supposed to be an opportunity for the real estate industry to explode in 2018, “said Chau. .

The same opinion, Nguyen Nam Hien, General Director Hung Thinh Land also said that the real estate market wants to develop must rely mainly on transport infrastructure. This trend is not only in Vietnam but also in the world.

However, one of the prominent advantages of HCM City compared to other cities in the region is the large scale of the city is expanding. While most of the other cities in the world, the urban suburbs are within a radius of 200 km, and Ho Chi Minh City and neighboring provinces only about 30 km apart, a suburb can be called the neighboring provinces of the HCMC  .

In fact, the real estate market of the city is also trending to the outskirts in 2017 and will be stronger in 2018, especially when transport infrastructure connecting the coastal area of ​​Ho Chi Minh City is greatly improved.

Tran Trong Tuan, director of the HCM City Department of Construction, said that nowadays, developers are applying for a license to build real estate projects in HCM

In particular, not only the locations where transportation projects have been completed, but also the transport projects prepared for construction are also real estate investors hunting for land to develop real estate projects here. . This shows that traffic is going to dramatically change the real estate market in 2018.

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In 2018, HCMC real estate benefited from large transportation projects
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