Binh Duong has recently absorbed many big FDI projects in real estate and urban infrastructure development, contributing to promoting the local urbanization process. This has helped Binh Duong become more attractive to investors…

FDI capital flowing into real estate sector

One of real estate projects granted investment certificates in Q1 2013 by provincial People’s Committee was the VSIP Binh Hoa-Binh Duong complex. The US$199.6 mln project will be built on an area of 6.8 hectares in Vietnam Singapore Industrial Park I (VSIP I) by VSIP Joint Venture Company. Prior to that, the Japanese Tokyu Group also decided to invest US$1.2bln in the Tokyu Binh Duong Garden City project in Binh Duong new city… 

“Sora Gardens” with two 24-storey towers is expected to be completed in 2014

Apart from the two above projects, Binh Duong over time attracted many other real estate projects with FDI capital, including an urban estate project “The Canary”, which is located in front of the VSIP 1. Covering 17.5ha, the urban estate includes around 1,200 apartments, a shopping mall of 82,000 sq.m, a four-star hotel, an international school… and is invested by Singapore’s Guocoland Co.Ltd. with a total investment capital of US$200mln.

Charm Engineering Co. of South Korea worked out the Charm Plaza project in Di An district. With total construction area of 362,000 sq.m, the project is a complex with 6 blocks, including 2,700 apartments of 46sq.m or 176sq.m each, a supermarket, a plaza, an international kindergarten, a swimming pool…According to the investor, a total investment capital of the project amounts to nearly US$200mln.

In 2007, SetiaBecamex, a joint venture between SP Setia Berhad, a top real estate developer in Malaysia and Vietnam’s State-owned Becamex IDC Corporation began construction of the EcoLakes My Phuoc project of 226 ha with a total investment capital of more than US$620mln. This was seen as an impressive start for FDI capital to develop real estate market in the province

For investment expansion, the US$177 million EcoXuan urban area project was constructed in Thuan An Town. Invested by the Setia Lai Thieu company, a member of the SP Setia Group (Malaysia), the 10.8ha project consists of houses in rows, villas, apartment buildings, communal houses, shopping centers, entertainment areas, water-based playing field for kids, and more.

With its strategic location and as an important gateway to Tay Nguyen (the Central Highlands) and western and southeastern regions, a satellite urban area for Ho Chi Minh City, a leading economic center in Vietnam and a province that is to become a centrally governed city in the coming time, Binh Duong has attracted many leading real estate investors.

Highlight of Tokyu

Possibly speaking, the Tokyu Binh Duong Garden City project, invested by the Becamex Tokyu Co., Ltd - a joint venture between the Becamex IDC and the Tokyu Group (Japan), has made a breakthrough for the province’s real estate sector.

The US$1.2 billion Tokyu Binh Duong Garden City, the province's biggest urban project and the biggest FDI project, began construction in March 2012. The project will feature 7,500 apartments plus entertainment areas, shopping centers and offices. It is also designed to become an ideal place for businesses to operate in a new environment with modern infrastructure.

The Tokyu Binh Duong Garden City project is part of the Binh Duong New City project of 1,000 hectares. The project will contribute to the sustainable development of Binh Duong New City. It is known that “Sora Gardens” comprises two 24-storey towers with over 400 apartments is underway now. It is the first component of the Tokyu Garden City project.

“Based on our 60-year experience in the field of urban development, we are committed to trying our best to develop Tokyu Binh Duong Garden City with capacity and quality corresponding to Binh Duong’s status as a central government-managed city in 2020…,” said Toshiaki Koshimura, Chairman of the JapaneseTokyu Corporation.

Reported by Phuoc Giang-Translated by K.T