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Ho Chi Minh City real estate: a huge potential for the future in the west

Western real estate

Saigon real estate started to be targeted

Although the hottest area is still the east-south axis. But many real estate developers are quietly collecting dozens of hectares of land in western HCM City in many forms. Their main purpose is to cater for future business strategies.

From the end of 2015, Thang Loi Real Estate Company has lost a lot of effort to hunt 60 hectares of land in the western part of Saigon and neighboring districts. In preparation for investment in a series of new projects.

Western apartments
The bottom is cheap. Easy access to the group of popular customers is the reason for many investors take the West to make promised land

According to the disclosure from this unit, with land available in their hands, within a year to come. The company expects to launch about 1,500 land plots with the price of VND 300-500 million / unit. Besides the built-in townhouse with the price of VND700 million to VND1 billion, the key will be handed.

“While many are choosing East and South Saigon as their business strategy. We are determined to thrust all our strength to pursue the West. Because land prices here are cheap, convenient to reach the group of popular customers, “said the business leader.

Not only the small business but the big one does not overlook the West

Determined with cheap land fund in the West of the city, Nam Long Investment Joint Stock Company has just completed a project of 9 hectares located in Binh Tan district. This land is prepared to develop apartments in the future.

Most prominent to mention the daring business direction of Khang Dien Housing Investment Joint Stock Company. Although they own up to 100 hectares of land in District 9. These giants are still surprised when the hands strong acquisition of the land fund of the west of Ho Chi Minh City.

In 2015, Khang Dien has agreed to buy 32 million shares of Binh Chanh Construction Company (BCI). Raising the company’s ownership to 57.31%. BCI is the largest holding company in Saigon with 24 projects under development. The total area allowed for their construction is nearly 400 hectares. Mainly concentrated in Binh Tan, Binh Chanh. Many experts assess the stock move is not outside the goal of increasing land funds.

Binh Chanh Construction Company
BCI is the largest holding company in Saigon with 24 projects under development.

In a statement to the media, Khang Dien shared that the business strategy would stick to the East and spread to the West in the future. The first step is to expand the land fund to invest in projects in the Southwest. Mainly for types of low-rise buildings, apartment buildings, industrial parks and commercial real estate.

The trend toward the West does not stop at the subterranean waves of some businesses. But now it has become the big race of the big men.

Both Nam Tien, Hoang Anh Saigon and Hung Thinh have joined the game. A series of projects have been launched in Tan Phu and Binh Tan including: The Southern Dragon, Melody Residence, Western Dragon, …

Western real estate
The big men also took to the West playground, not just the playground of the small investors

Mr. Ngo Quang Phuc – Deputy Director Him Lam Land. Although the east-south axis is extremely flourishing with high-end residential segment. But the western part of the city is now the paradise of the land that has not been fully cleared.

The expert further analyzes that the population in the urban axis to the west is mostly immigrants. So this area sooner or later will also be formed into medium or large-sized housing projects in the near future. “Houses that cost less than VND 1 billion to VND 1.5 billion each will have too much potential for development. Products fromVND2 billion or more in this area will be harder to sell. “

Experts point out that the West has such a development

Lecturer of the Center for Business Consulting and Economic Development of the Department of Economic Development (University of Economics of Ho Chi Minh City) – Ngo Dinh Han said that there are many enterprises in the west of HCM City for four reasons .

First, the connection infrastructure of Saigon West with the city center is now good. Due to the presence of the Vo Van Kiet Boulevard, as well as convenient connection with Ho Chi Minh City – Trung Luong highway. In the future, when Metro lines come into operation. The West and North will have more incentive to develop.

Metro trains
Metro trains will be a source of strength for the West development faster

Secondly, the initial cost of developing this property is much lower than that of developed areas in the East and South but it is very liquid.

Thirdly, the West is really a young market, so the products here are in good location, large scale, full facilities, synchronous planning, the market will be very positive.

Fourth, the population of this area is increasing, especially the peoples outside the province have demand for housing. This creates the premise for the demand for new urban areas.

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