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Dong Nai property bucks the trend
Dong Nai property market is a bright spot amid gloomy southern realty market picture.
Dong Nai Province People’s Committee has just revised detailed construction planning scale 1/500 of the Long Thanh ecotourism, golf course and urban complex in Bien Hoa city’s Phuoc Tan and Tam Phuoc communes which will be assigned to developer Long Thanh Golf Course Investment and Trading Joint Stock Company for completion by 2016.
Accordingly, the project occupies 334.3 hectares of this 118.5ha reserved for a 36-hole golf course and 105ha for building 1,059 villas with area ranging from 300sqm to 1,200sqm, with a maximum construction rate of 50 per cent featuring two to three stories.
This is the latest approved investment project in the province by mid July 2012. Earlier, a string of projects either began construction or rolled out for sale in the province like Pho Dong Bien Hoa project in Bien Hoa city, Golden Hill in Trang Bom township and Bien Hoa Dragon City in Bien Hoa which captured consumers’ great deal of attention.
The is in stark contrast to the frozen market nationwide.
Kim Oanh Real Estate Company’s general director Dang Thi Kim Oanh said Dong Nai had prevailing advantages over neighbouring locations. That is because the southern province’s proximity to growth engine Ho Chi Minh City, while local land price is soft parallel to a fairly developed infrastructure. For instance, a land plot at Bien Hoa Dragon City project costs only VND2.5-3.5 million ($120-$165) per square metre.
Under Ho Chi Minh City and surroundings development planning to 2030 with a vision towards 2050, Dong Nai is set as a hi-tech urban zone, a medical, training and services hub and a national ecological site east of Ho Chi Minh City.
The province is also of great significance to southern key economic zone transport with convenient road, waterway, railway and in the near future airway when construction of Long Thanh international airport is completed.
Around 400,000 labourers are currently working in the provincial industrial parks (IPs), many from other locations, resulted in a great demand for housing.
It was evidenced through more than seven million square metres housing areas being built newly in the province in 2010.
Besides, construction of a pipeline of key transport infrastructure projects is now underway in the province, such as the Ho Chi Minh City-Long Thanh-Dau Giay expressway slated to come online from October 2012, National Highway 51 being expanded to consist of six-lanes or building Phuoc An Port and Long Thanh international airport with construction planned to kick-start in 2015.
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