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  • News in Vietnam
  • 8 September 2022

Binh Phuoc – a captivating land for real estate investment in Southern region

The emergence of Binh Phuoc market with plenty of diverse-scale projects has drawn special attention of customers and investors.

At present, while urbanization speed is accelerating, focusing on industrial development, investment in transport infrastructure are ultimate goals for Binh Phuoc to strengthen and stabilize its economy. Along with those notable advances, Binh Phuoc’s real estate market is increasing speedup and becoming an attractive destination to lure ideal investors in Southern region.

The market benefits from industrial development orientation

Binh Phuoc province is implementing the policy of economic development and urbanization towards industrialization. Since then, the province has set a vision to 2025, opt for becoming an industrial province with a medium economic scale in the Southeast region. The goals are to become a modern industrial province by 2030, and a fully developed, prosperous, civilized province taking industry as the top key by 2045.

The province is expected to become one of the next major industrial capitals after Binh Duong nationwide. To achieve the above goal, Binh Phuoc province has set forth important plans, altogether focusing its workforce on investing, building and expanding the industrial and infrastructure network throughout the province.

Being a favorable industrial province, by the end of 2021 Binh Phuoc owns 4,686 hectares of industrial park area, and has 2 industrial parks with 100% occupancy rate, including Chon Thanh I and Nam Dong Phu industrial parks. In addition, there are 4 other industrial parks including Minh Hung – Korea Industrial Park, Dong Xoai I, Chon Thanh II, Minh Hung III with occupancy rates reaching over 90%.

In particular, Becamex Chon Thanh industrial park in Chon Thanh – Binh Phuoc is currently the largest industrial park in Vietnam with a planned area of ​​more than 4,600 hectares. Besides, the province is also home to several industrial parks with  largest areas in the region and the whole country.

The statistics indicate that in the first six months of 2021, Binh Phuoc province had 620 newly established enterprises, an increase of about 18.8% over the same period last year and reaching 52% as planned. Additionally, the province has also simultaneously implemented many industrial cluster projects; contributed to increasing the number of industrial parks and attracting a large number of laborers.

Besides, Binh Phuoc province focuses on promoting infrastructure investment to create the best conditions for industrial development. An array  of key routes and highways are planned to be deployed such as the expansion of National Highway 13, National Highway 14, HCM City – Chon Thanh, Chon Thanh – Dak Nong Expressways, etc., which are expected to be an significant support for the industry and the real estate market to speed up  and break through in the upcoming time.

An attractive investment spot in the Southern market.

As recorded, by the end of 2021, the number of workers from outside Binh Phuoc accounted for about 35% and promises to constantly increase, aligned with the expansion of the industrial park system.

In addition to a large amount of labor, a large demand for real estate from workers, experts and intellectuals to live and work in Binh Phuoc province will be formed. With such a large number of employees, there would be an increased demand for service quality, benefits that contribute to improving the residents’ quality of life. Therefrom, with increasing ownership demand, real estate will be invested and planned in a synchronous and methodical manner along with the completion of utilities.

 Currently, the province also has a lot of aggressively invested projects with various scales which won special interest of investors and customers. Binh Phuoc province with its vibrant market and potential projects has attracted a large number of investors creating a picture with shining colors for Binh Phuoc real estate. Especially, areas such as Chon Thanh, Dong Phu, Dong Xoai, etc., with strong industrial development will welcome waves of infrastructure investment.

In particular, Chon Thanh is highly recognized for having outstanding potential to become an investment “hot spot” in Binh Phuoc particularly and the Southern region generally.

Chon Thanh is renowned for owning a huge industrial park area with a scale of more than 5,000 hectares and is promised to become the “industrial capital” of Binh Phuoc province. In October 2022, Chon Thanh together with the increasingly complete transport infrastructure and its developing to become a town will be a huge milestone to the economic development, urban area and real estate market. It is predicted that in the near future, this market will create waves of real estate price rise and especially a “high fever” in numerous segments of industrial real estate and plotted land near industrial zones.

Source: VnEconomy