Located in the most dynamic economic area in the South East, possessing a warm climate, beautiful coastline and development infrastructure, Vung Tau is considered to have many advantages in tourism development and the formation of resort luxury resort. But, for a long time, this potential market is still… like the “broken cannon”…
High potential, low efficiency
The coastal city of Vung Tau is less than 100km from Ho Chi Minh City via Ho Chi Minh City-Long Thanh – Dau Giay Expressway and Highway 51. Moving from Ho Chi Minh City to Vung Tau City only takes about 1.5 hours. In addition, to reach Vung Tau, passengers can also choose the waterway is the high-speed boat, with the starting point from Ben Van Don (district 4, Ho Chi Minh City).
Long ago, Vung Tau is considered as the “heart of sea tourism” in the South East region, connecting with the southwestern provinces through the arterial traffic. The coast of Ba Ria – Vung Tau is 305km long, including 156km of sandy beaches, safe for sea bathing, sea sports tourism and the formation of high-end resorts. With the advantage of its geographical location, Ba Ria – Vung Tau in general and Vung Tau, in particular, have great potential for tourism development.
In fact, in recent years, Vung Tau has always been the destination – the first choice of many domestic and international tourists. According to the statistics of the Ba Ria – Vung Tau Province, only in the first 9 months of 2017, the city received more than 7 million visitors. Total revenue was estimated at 1,496 billion, reaching 87.38% of the plan and up 9.8% over the same period.
Vung Tau real estate market, especially the real estate segment, many experts said that this is a potential market for development, with a beautiful, wide and rich land fund. More importantly, the market has not had much competition because the number of large enterprises here is developing resort projects only “count on the finger”. However, the market considered “the richest potential of the Southeast” is operating like a “broken cannon”.
About Vung Tau Real Estate Market, most experts have said that the improvement of transport infrastructure is the most important factor promoting the economic development and tourism of this coastal city; thereby “awakening” the potential of the resort sector. A report shows that in recent times, Vung Tau is gaining the great attention of investors with up-to-billions of dollars projects from domestic and foreign real estate and tourism corporations.
According to the Department of Planning and Investment of Ba Ria – Vung Tau, only in the first 6 months of 2017, real estate market recorded the landing of 23 projects with a total investment of more than VND 9,000 billion. Up to now, the province has 157 projects with a total area of more than 3,400 ha; total registered capital of over VND 35,000 billion. Of which, there are 18 foreign-invested projects and 139 domestic invested projects.
Among the “big names” mark their presence in Vung Tau Hung Thinh Group with project Melody Vung Tau; Viet Han Real Estate Company with 2 big projects are Sky Park Long Dien Complex and Viet Han 3 Residential in Long Dien District; Nam Hai Real Estate Company with Marine Estates Villas Project. The project has a total area of about 28 hectares. Of which, the resort covers an area of 76,903sm, including 36 villas and 2 apartments with 260 luxury apartments with sea view.
And most recently, on November 26th, 2017, AllGreen Vuong Thanh – Trung Duong Co., Ltd., in association with Vietnam Real Estate Company (DKRV) introduced to the market Vung Tau Regency project located on the road 3/2 Vung Tau city with nearly 500m seafront. According to the design, Vung Tau Regency is 23ha, considered as a “heart” of Vung Tau tourist resort with the most exciting entertainment activities in this beautiful sea city.
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