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Investors turn sights on Long An property market
Domestic property investors are shifting their interests to the southeastern province of Long An, which is expected to develop rapidly over the next two to three years.
Among the major projects already in the pipeline are the Tan Duc residential industrial services area, with a total area of 1,142ha in Tan Hoa District; 2,565ha in Long Kim residential area in Ben Luc Town and Sai Gon Me Kong urban area; the Tan An new urban area of 52.3 ha and administrative centre urban area of 42.2 ha; and the Mekong Riverside residential area.
VietRees Real Estate Company said the province's residential and urban areas were conveniently located near HCM City and the western Cuu Long (Mekong) Delta provinces by a network of roads.
The price of property projects in the province are relatively low compared with Binh Duong and Dong Nai Provinces.
For instance, one square metre of land is sold at an average of VND1.5-3 million (US$79.3-158.7) for projects in Duc Hoa District; VND3-4 million ($158.7-211.6) for property projects in Ben Luc District; and VND4-8 million ($211.6-$423.2) for residential area projects in Tan An City.
The company said the price of frontage land in Hung Vuong Street had increased to more than VND15 million ($793.6) per square metre. Infrastructure was nearly complete, and Can Tho Bridge opened to traffic last month.
Apart from local investors, most come from HCM City and western provinces.
Long An Province still has many residential projects for sale. Property products include street houses, land for projects and land for building villas.
The tourism property market is expected to become one of the real estate market's most prominent sectors.
According to Viet Nam's tourism development strategy by 2020, Long An Province is seen as a key destination for eco-tourism development in the south central and southern region.
Dang Van Xuong, director of Long An Department of Culture, Sports and Tourism, said the province had begun tourism promotion activities along with other provinces like Tien Giang, and Dong Thap and Can Tho City.
Long An Province has many advantages to promote economic development, apart from the property sector. It has five border gates and is a prominent industrial province.
For instance, the province has remained in the country's top 10 in the competitive index and in the amount of foreign direct investment.
The infrastructure is good, with decent roads. The Sai Gon-Trung Luong Expressway linking HCM City with Long An and Tien Giang provinces opened to traffic in February.
In the future, the Tan Son Nhat-Long An expressway linking Tan Son Nhat Airport in HCM City to Long An Province will be built by the Tan Tao Group.
vietnamnews
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