With a rapid growth of population including local residents and migrants, urban expansion and thus population dispersion seem to be an urgent solution for HCMC, as it will create opportunities for real estate development in many new urban areas including the northwest part of the city to make breakthroughs.
Potential to become golden land
According to experts, when the land bank in the inner-city or the eastern part of the city are getting narrowed, the urban area in the northwest part is a suitable development space for HCMC. Being included in the city’s zoning plan many years ago, the urban area in the city’s northwest has seen a relatively complete regional traffic network designed, comprising national highways and provincial roads that provide easy access to neighboring provinces like Binh Duong, Tay Ninh and Long An.
For many years, HCMC has attracted lots of investors thanks to its many industrial parks as well as its rapid process of modernization and industrialization across economic sectors, and urban development. Hoc Mon and Cu Chi districts are the places that see the most rapid urbanization in the northwest part when many urban areas, infrastructure facilities and expressways are being expeditiously developed. Residents’ intellectuality, living conditions, and urban lifestyles have been improved, with little noticeable difference from the conditions among the inner-city residents. This key factor has prompted population dispersion, seen in the movement of residents from the city center to the outlying areas of the city which helps ease traffic and commercial pressures, build a better image for HCMC and create new momentum for the city’s economic development.
The orientation of developing urban areas on the city’s outskirts is a practical and useful solution as the city will have not only busy and crowded areas in the core but also extensive peripheral urban centers.
Looking back to the policy of dispersion, many lessons could be learned from the development of Thu Thiem urban area. Prior to the establishment of this urban area, the land cost only several hundreds of thousands of dong per square meter. However, the land price in this area has rocketed to hundreds of millions of dong per square meter at present and this place has become a center of finance and technology, a highly-livable place attractive to many investors.
Meeting settlement demand of residents
Upon new policies of the State, realty enterprises in HCMC have chosen to develop concentrated housing projects in new urban areas. Years ago, property enterprises such as Vingroup, Novaland, Hung Thinh, Him Lam, and Phuc Khang sought to acquire land in the outlying areas of the city. Attracting a large number of investors thanks to its gateway advantages and rapid urbanization, the new urban area in the city’s northwest is becoming a bright spot of HCMC’s realty business in the near future.
Realizing its own development plan step-by-step, Hung Thinh Land announced to launch the first apartment project for people born in the 1990s, known in Vietnam as Gen 9X, in HCMC – The 9X An Suong Project in the northwest part of HCMC. The project will offer around 800 units with each ranging from 37 to 92 square meters and of different types including studio, and one- to three-bedroom apartments to satisfy the needs of different groups of residents.
Being the second project in the series of the 9X apartment projects, the 9X An Suong Project located right at the center of Hoc Mon District, with one side facing Song Hanh Street and close to main traffic routes such as Truong Chinh, and National Highways 22 and 1A, will enable residents to get easy access to the city center or surrounding provinces such as Long An, Tay Ninh and Binh Duong.
The area which is home to many educational institutions, medical facilities, commercial and entertainment centers within a radius of several kilometers, is expected to meet the needs of the residents. Another outstanding advantage of the 9X An Suong Project is its location close to Aeon Mall Hoc Mon, the biggest Aeon Mall in HCMC which is under development.
At the same time, residents will be entitled to a public space in the project with 30 different utilities including an infinitive swimming pool, a multi-functional sport court, a park, a BBQ garden, a kindergarten, and a commercial quarter.
Given the shortage in housing supply for middle-income earners and the continued property price hike, the 9X An Suong Project promises to satisfy the housing demands for the young people in HCMC in general and in the northwest part of HCMC in particular.