Weekly Vietnam Property News (20 – 26/09/2020)
Property News: Vietnam pushes on with smart city plans
Vietnam is accelerating construction to support the establishment of smart city projects combined with top-class technology to enhance both the country’s management and the economy.
Smart cities are being built in many locations across the country, namely Hanoi, Ho Chi Minh City, Da Nang, Binh Duong, and Nha Trang.
The project will also elaborate a blueprint on the application of smart technologies such as 5G, facial recognition, and blockchain, which will contribute to the improvement of services in the capital.
Eastern City offers many opportunities for the condominium market
Ho Chi Minh City already has a method of importing the proposed districts 2, 9, and Thu Duc in the east into an independent administrative unit directly under Ho Chi Minh City with the temporary name “East City” or “Thu Duc City”. . With a positioning strategy in the “golden triangle” between Ho Chi Minh City, Binh Duong and Dong Nai, Giao Dong City will play an important role in connecting Ho Chi Minh City with neighboring provinces in terms of information and trade. commercial operations.
Along with that, major infrastructure projects are built, creating favorable conditions for connections between East City and other areas in Ho Chi Minh City. Given these conditions, the condominium market here has a certain attraction to real estate investors and buyers.
Post-COVID move in Vietnam’s industrial real estate market
In a report on Vietnam’s industrial real estate market that the country could be in a moment of transformation, with the greatest opportunity to become a new global production center.
At the moment, Vietnam is considered as a promising destination for high-quality foreign direct investment (FDI) inflows from the shifting from China to Vietnam with certain advantages such as macro-economic stability, low inflation, high growth, stable currency, abundant labor force, and a secure investment place for foreign investors.
Thu Duc city will contribute about 30% of the GRDP of HCMC and account for about 7% of the country’s GDP.
After its establishment, Thu Duc city will contribute about 30% of the GRDP (total national income) of Ho Chi Minh City and account for about 7% of the country’s GDP.
Thu Duc city will play a central role, deploying models of application of science, technology, and commerce; linking scientific, technical, and technological research with the application of commercialized product development.
At the same time, this is the “nucleus” that promotes the economic growth of Ho Chi Minh City and the Southern key economic region in the context of the fourth industrial revolution.
This area is expected to contribute to the establishment of value-added chains on the basis of high technology, modern technical and social infrastructure according to international standards, and effective financial support for businesses. and contribute to improving the quality of life for people.
Compiled from many sources by LOOKOFFICE
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