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Why Is District 8 Attracting Real Estate Investors?

 Leaders of District 8, HCM City said that there are incentives to attract real estate investors.

In the past time, with the simultaneous development of transport infrastructure, it is not surprising that the South West and especially District 8 are becoming destinations of the real estate market.

Explaining the attractiveness of the district for real estate investors in recent years with the law of Ho Chi Minh City, Le Quynh Dai, Vice Chairman of District 8 People’s Committee, said in recent years, efforts to improve the page. Improved quality of living environment for the people gave District 8 an entirely different urban appearance. The housing projects have been invested in a synchronous way in the transport infrastructure and social infrastructure has made District 8 a living environment for the people, the real estate market has also become exciting.

A good signal from Binh Tien bridge

District 8’s attraction is the construction of the Binh Tien bridge crossing the Tau Hu canal and the Double canal, contributing to reducing the traffic pressure on Vo Van Kiet and Nguyen Van Linh streets and reducing the overload Cha Va Bridge.

People’s Committee of HCM City has assigned the People’s Committee of District 6, District 8 and Binh Chanh District to implement site clearance compensation (Site clearance) project construction road Binh Tien. Therefore, the speed of the project is fast or slow depending on the clearance from the local.

Mr. Le Quynh Dai said that the district is completing site clearance procedures, preparing compensation and reports have been made by mid-2018 that the bridge will be commenced. It is expected that within 18 months, the bridge will be put into operation.

District 8 real estate
Development of transport infrastructure connecting, improving canals is being deployed District 8

According to Mr. Dai, the means of transportation from the center to the southern urban areas, Ho Chi Minh City, along the axis, Nguyen Tri Phuong, Highway 50, the bridge Y, Cha Va, Nhi In the recent years, due to rapid urbanization in the south, traffic jams have been made on bridges and roads from the south to the city center. After completion, Binh Tien Bridge Road Project will solve the situation of traffic jams from Ho Chi Minh City center through District 8, Nguyen Van Linh to go National Highway 1A to the Mekong Delta provinces…

Previously, according to the proposal of the Department of Planning and Investment, the People’s Committee of Ho Chi Minh City has approved the policy to continue implementing procedures and investment projects for the construction of bridges and roads in the form of BT contracts. Currently, the project of constructing Binh Tien Bridge and Bridge is implemented by four investors in the form of BT contract.

Section 1, Binh Tien bridge section from Pham Van Chi road (district 6) to Ta Quang Buu (district 8) is about 1,413 m long (including Binh Tien bridge and two bridges) construction and construction of East Mekong and 319 corporations as investors with a total capital of about VND2.604 billion.

Section 2, from Ta Quang Buu Street (District 8) to Nguyen Van Linh Street (Binh Chanh District) with a length of about 1,805 m, jointly held by the Joint Stock Company Licogi 16 and Binh Chanh Construction Investment Joint Stock Company- BCCI invested about VND903 billion.

“Hop” improves canals

Ho Chi Minh City People’s Council has approved the resolution to implement the specific mechanism to develop the city. In this resolution, the City People’s Committee will apply all mechanisms and policies to call for social resources to successfully implement the policy of urban renewal, including the relocation of houses along the canals with the focus of the district 8.

According to Le Quynh Dai, thanks to the city’s policy of strong development of the infrastructure, together with the policy of renovating canal-side houses being invested, District 8 is becoming the center of Real estate investors as well as home buyers. Especially now, the housing projects have the river view, the trend is the trend of customers are preferred, these areas are the real estate business to welcome.

District 8 real estate
illustration

“The north bank of the canal used the city’s budget to relocate about 1,000 homes, now compensation commissions are being prepared, expected in the third quarter of 2018 will complete the file to compensate the people living in here. On the south bank of the canal, using non-budgetary capital, capital mobilized for socialization is used. It is expected that in January -1818, the People’s Committee of Ho Chi Minh City will hold a conference calling for investment projects on relocation of houses on rivers, canals, embellishment of urban areas in the city, of which mainly areas On the south bank of the canal (district 8) with more than 5,000 units “- Mr. Dai said.

According to the leaders of District 8, no local city of nature was given to 23 large and small canals in District 8. Such as the canal, the Ben Nghe Canal, the Tau Canal; Mr. Big, Mr. Cuc, Xom Cui, Mr. Nha, Cow Gourd, Rach Cat, Ms. Tang, Lan Dang, Rach Cung, Lo Gom; the Ngang channel 1, Ngang channel 2, Ngang channel … This brings green living environment near the river for residents which other districts are difficult to obtain. That is not to mention District 8 is also known as a focal point for commodities, agricultural products from the East and West with the treasure, wharves, markets …

From the central position of the center, the People’s Committee of District 8 said that it will continue to have programs to encourage investors to take full advantage of the potential, promote the strength of the district, change the appearance of urban.

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Why Is District 8 Attracting Real Estate Investors?
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