Binh Duong real estate market to absorb investors

 In addition to the available potential, real estate market in Binh Duong is developing stably and promisingly, becoming an attractive destination to investors.

Potential and prospects

With favorable conditions, socio-economic, infrastructure and urban areas of Binh Duong is thriving, numerous investors are coming to Binh Duong real estate market, especially in Di An City, Thuan An City, Thu Dau Mot City, Ben Cat Town. In addition, people wishing to buy houses or land for settlement also consider this as a prime time to buy real estates. Currently, people with real needs are interested in buying houses in projects in the province.

Bcons Garden apartment project, Di An ward, Di An city is under construction.

Land plots of commercial housing projects, which are completing its technical infrastructure, attract a great deal of investors and people, especially in compressed urban areas of Di An, Thuan An, and Thu Dau Mot have contributed to urban renovation and improving the quality of people's lives. Currently, in the province, in addition to adjacent townhouse projects, there are also many real estate projects of high-rise apartment buildings, which create accents for urban spaces in Binh Duong's development process towards civilization and modernity, and towards a smart city. Notably, the development of the condominium segment in southern cities has attracted domestic and foreign investors. According to the province's housing development plan for the 2016-2020 period, as of August 2020, Binh Duong developed 2.67 million square meters of new housing floor (equivalent to 33,304 apartments).

Vo Hoang Ngan, Director of Department of Construction, said: "Binh Duong borders Ho Chi Minh City, has favorable location in the heart of the southern key economic zone, is one of the provinces with high economic development pace and rapid urbanization. Binh Duong has many advantages in terms of transportation as well as electricity, water, communication and geological resources for housing construction and development, urban development".

According to Mr. Vo, real estate market in the province has recently recovered and developed well. Many housing projects and service works have been formed. The development of apartment buildings in the southern compressed cities of the province is an inevitable trend, while land funds in these cities are very limited, investment cost is high compared to in other localities in the province (due to the huge cost of land). This development contributes to addressing the increasing demand for housing, urban renovation, increasing the efficiency of land use in urban areas".

Tran Thi Cam Tu, General Director of Eximrs Real Estate Corporation, Ho Chi Minh City, said: "Binh Duong is attracting big-name investors. Binh Duong is the "capital" that attracts industrial real estate investment, attracting a large number of workers along with increasing demand for housing. Binh Duong and other regions in the province joined the world's prestigious organizations, such as Intelligent Community Forum (ICF), World Technopolis Association (WTA), and World Trade Centers Association (WTCA). In two consecutive years 2018 and 2019, the Binh Duong smart region was honored by ICF to be one of the 21 regions that have the world's exemplary smart city development strategies. These are very favorable and promising conditions for Binh Duong real estate market to develop further in the future"

To create favorable conditions for investors

In recent years, Binh Duong province has identified real estate as one of the driving forces for economic development, thus has implemented many solutions, creating favorable conditions to attract investors. Nguyen Trung Tin, Vice Chairman of An Gia Real Estate Development Corporation, said: "We have chosen Binh Duong as an investment and development destination. When we came here to invest, we were surprised as being supported by provincial leaders, departments in order to soon complete legal procedures for investment. We value Binh Duong as a potential and developed market. We believe that we would succeed when investing in Binh Duong"

For real estate investors to invest strongly in Binh Duong, Le Hoang Chau, Chairman of Ho Chi Minh City Real Estate Association, said: "Binh Duong's transport infrastructure is really good, but foreign infrastructure is still a drag. If Binh Duong together with other provinces and cities in the region solve this weakness, surely the real estate market will grow stronger." Vo Hoang Ngan, Director of Department of Construction, said: “In the coming time, Department of Construction will continue advising Provincial People’s Committee about reviewing regulations, orientations for socio-economic development and urbanization in the province. Especially in resolving administrative procedures, the department will continue to resolve dossiers in the fastest and best way in accordance with the law for investors"

Reported by Phuong Le – Translated by Ngoc Huynh