Smart eco-urban real estate meets the demands of long-term investment, with investors less interested in surfing than in sustainable value.
While the real estate market has not yet escaped fallout from the Covid-19 pandemic, many experts believe investors tend to opt for long-term investment towards long-term profit, especially in mega-urban real estate products in satellite towns around big metropolises like Ho Chi Minh City.
Strong foundation for satellite urban real estate
HCMC, a megacity with a population of more than 13 million people, is experiencing an increasing wave of urbanization. Demand for housing is constantly growing, while a limited land fund has forced real estate prices to skyrocket, putting many people with real housing needs out of reach.
The real estate market in HCMC is gradually shifting investment capital to satellite areas, where there is an available land fund and more prospects for newcomers, thanks to robust growth of the inter-regional connection infrastructure system.
“It has been determined in Ho Chi Minh City’s development strategy that satellite urban areas will be developed in accordance with the goal of multi-center urban development, featuring spatial characteristics of urban, beyond administrative boundaries, in which areas like Binh Duong, Dong Nai, Ba Ria – Vung Tau will gradually form new potential and attractive urban centers,” a real estate expert stated.
Provinces east of HCMC like Dong Nai, Ba Ria – Vung Tau, Binh Thuan have recently become real estate market hot spots. Since the Ho Chi Minh City – Long Thanh – Dau Giay expressway entered operation, the Long Thanh international airport project has kicked off, and a series of connection routes have been established, with regional connectivity between HCMC and other cities enhanced. The travel time between Dong Nai, Ba Ria – Vung Tau and HCMC has been significantly shortened.
Taking advantage of this opportunity, several prominent real estate companies have invested up to trillions of dong in a series of mega projects.
The NovaWorld Phan Thiet project of Novaland Group, with a scale of 1,000 hectares and a total investment capital of up to $5 billion, is currently the center of investment in Binh Thuan. Meanwhile, in the East of HCMC – Eco-smart city Aqua City, which spans over 1,000 hectares, is gradually taking shape.
Smart eco-urban development
Large cities have sought to extend into satellite towns across surrounding areas due to overpopulation and restrictions in re-establishing existing metropolitan areas.
This not only addresses a pressing housing issue, but also contributes significantly to the local economy, bolstering the region’s overall resilience while paving the way for long-term development.
Novaland’s Aqua City project is an example of the satellite urban model. The project offers residents quick access to key economic, financial, and tourism areas in the southeast region, as well as available natural resources.
A total 70 percent of the project’s land is dedicated to green space, transportation infrastructure, and high-quality internal utilities. According to the national environmental status report, the average area of greenery in Aqua City is more than 15 square meters per person, compared to less than two square meters per person in HCMC.
Do Thien Anh Tuan, lecturer at Fulbright University Vietnam, said the construction of smart eco-cities is an unavoidable trend. The emergence of the middle class and super-rich is a driving force altering the demand and consumption structure of society.
“Overcrowding and pollution are driving an increasing number of people to seek accommodation and relaxation outside of HCMC, particularly since the highway system was improved to make short-term travel more accessible and easier,” Tuan added.The expert explained the desire to settle down in satellite cities is growing not only among middle-aged people who already have a position in society, but also young adults.
Aqua Marina in Aqua City is expected to open this July. Besides, the Sun Harbor 1 subdivision was also officially launched, and is expected to bring exclusive products to satisfy the lifestyle of upper-class residents.
Source: VN Express