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Road to ignite prices
A master plan for a key Hanoi ring road is set to get the property sector buzzing.
After a three year wait, the master plan for Ring Road No.4 was revealed last week by the Ministry of Transport (MoT) and Transport Engineering Design Incorporated (TEDI), with many properties along the route set to benefit with increased values.
The $3.1 billion road project will be “the high-speed ring road of the city” and with 98 kilometres in length it will go through the administrative boundaries of 13 districts in three provinces and city such as Hanoi, Hung Yen and Bac Ninh provinces.
The road will start at the Km3 +695 points on Noi Bai-Lao Cai Highway in Soc Son Dstrict, Hanoi and will end at Km35 +300 on Noi Bai-Halong Highway. The road will also cut and connect with a series of important traffic routes directed into Hanoi’s centre such Hanoi-Lao Cai and Noi Bai-Halong highways and Thang Long boulevard.
The Ring Road No.4 will be built as an international standard high-speed way with six car lanes and a designed speed of 100 kilometres per hour. The project will cover 1,230 hectares with 740ha area in Hanoi, 230ha in Hung Yen province and 260ha in Bac Ninh province.
The site for the road is scheduled to be cleared and compensated this quarter and construction will start in 2011 and be completed in 2015. “The completion of the Ring Road No.4 will connect the urban satellites and industrial parks around the city to Hanoi’s centre, decrease the huge of vehicles running in the inner city, especially trucks, transit vehicles on national road and highways towards the city centre,” said MoT Vce Minister Truong Tan Vien.
To save national budget and create more investment chances for domestic and international investors, the MoT proposed to authorise people’s committee to fulfill the construction by build-operate or build-operate-transfer forms. The MoT will invest and construct some parts with funds from the national budget and overseas development aid loans. A series of infrastructure companies have already registered to join the project since April.
Whilst real estate investors nervously expect prices of property projects at areas along the road such as Hanoi’s Ha Dong and Soc Son, Dan Phuong, Hoai Duc, Thanh Oai, Thuong Tin districts, Hung Yen province’s Van Giang, Yen My, Van Lam districts and Bac Ninh Province’s Yen Phong, Tien Du, Thuan Thanh and Bac Ninh city to rise.
Vu Cuong, a real estate analyst from SSI securities company, said “For recent several months, prices of products of some projects have risen such as landplots at Sudico’s Nam An Khanh new urban city, villas in Vigracera Land’s Hoan Son eco-city on Tien Du, Bac Ninh.”
“Their owners are investors who do not want to sell properties and are waiting for a future property fever, partially caused by the information of starting construction of the Ring Road No.4,” said Cuong.
vietnamnet
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