HCM CITY: “HUGE WAVE” OF REAL ESTATE MARKET THANKS TO THE PUSH OF TRANSPORTATION PROJECTS

Dec/12/2018 16:04

At the end of 2018, HCM City has had  a number of “giant” projects for constructing traffic infrastructure with investments from some hundred VND billion or more which have been completed or have just been conducted.  Accordingly, the real estate markets in District 2, District 7, Binh Thanh District, Go Vap District, and so on, will have an advancing “impetus”.

Upgrading Nguyen Huu Canh Street

 The survey and design for  the upgrading of Nguyen Huu Canh are being implemented. The total fund  for this project is estimated to be approximate 473 billion VND. It is expected the project will commence in November 2018 and will completed after 14 months of construction.

 This is the main route for linking District 1 and Binh Thanh District,  It is predicted that this upgrading will make the real estate markets in Binh Thanh District and District 2 will have an advancing impetus

Opening Street D1

On 15^th September, the Street D1 which connects Saigon University to Nguyen Van Linh Street and Him Lam Residential Area in District 7 was officially opened. The whole street is 830 meter long and 20 meter wide, having 4 lanes. The total investment in the construction of this street was more than 289 billion VND.

Expanding Nguyen Tat Thanh Street

The People’s Committee of Ho Chi Minh City has required Saigon Port to report  to the People’s Committee on the plan for relocation and transmision of Nha Rong –Khanh Hoi Port Space to the coustruction entity, requiring that the space must be handed over before December 31^st 2018. According to the design, Nguyen Tat Thanh Street will be expanded upto 40 meters.

According to professionals, if this project is conducted, it will become a lever for enhancing the real estate market in District 4 and District 7 to develop in future.

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Building a bridge to link Go Vap District and District 12

The People’s Committee of Ho Chi Minh City has  approved the proposal of the Department of Transportation to continue to conduct the project to build An Phu Dong Temporary bridge ( steel structure). This  bridge will link the ward 5 of Go Vap District  to An Phu Dong Ward of District 12.

According to an urban planning, An Phu Dong Ward of District 12 will be developped into a populous and rich ara with an urban infrastructure of society suitable to the national technical standards on construction planning with the aim to attract and move population out of the center of the city step by step.

Adjusted planning for Tan Son Nhat Airport

This is considered as a highlight for transportation in the 3^rd quarter of 2018 in HCM City. The Ministry of Transportation has just approved the adjusted Planning in details for Tan Son Nhat International Airport through 2020 with a vision to 2030.

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Additionaly, during the recent time, “VND thousands billions” My Thuy Intersection has been mentioned as a hot point of the real estate of the Eastern Area (District 2). It is expected that the phase II of My Thuy Intersection will be commenced in the 1^st quarter of 2019 with a total invested fund of 1,150 billion VND.

With VND billion projects of roads  to be conducted in Ho Chi Minh City, the real estate and land  market in HCM City will  have “ new wave” in the coming time.

(* Some of contents in this article were from CafeF source)