- News in Vietnam
- 2 June 2022
Chon Thanh – An investment magnet of Binh Phuoc province
With many location advantages, Chon Thanh planning is the bright spot of Binh Phuoc real estate, attracting many domestic and foreign investors.
Located in the critical economic region of Binh Phuoc province, Chon Thanh district is attracting strong FDI inflows to be close to major industrial centers. Currently, Chon Thanh has six industrial parks that have been put into operation with a total area of more than 3,800 ha, accounting for 50% of the industrial parks of Binh Phuoc province.
Chon Thanh Real Estate possesses many outstanding advantages.
To continue to attract FDI and speed up the local industrialization process, Binh Phuoc has proposed planning about 70,000 hectares of land for industrial, urban, and hi-tech agricultural development, significantly expanding the three crucial industrial zone of the province.
Binh Phuoc’s expansion of industrial zones will open up a wave of migrant workers and housing demand for unskilled and expert workforce.
According to the plan, by 2030, Binh Phuoc will become an “industrial province” with the top GRDP in the country. By 2050, it will develop into a modern industrial province. As a result, investors predict that Binh Phuoc is the “focal point” for real estate investment in the wave of moving world factories to Vietnam after the pandemic.
The traffic infrastructure of Chon Thanh is also a strong point when the whole district has 737.65 km of roads, including three national highways passing through the community with a total length of 49.82 km and four provincial roads with a full size. 40,942 km, 15 district roads have a total distance of 101,603 km, and 441 commune and inter-commune roads have a total length of 552,803 km.
Prominent is National Highway 13, passing through the district in the North-South direction, connecting Chon Thanh with Binh Duong province and Ho Chi Minh City in the South order, through Hon Quang district, Binh Long town, Loc Ninh district to Cambodia in the North direction. The length of the section through the area is 17.56 km, and the usable space is 93.96 ha.
Along with that is National Highway 14, the arterial traffic axis connecting the southern critical economic region with the Central Highlands. The section passing through the district is 6.79 km long, running from the intersection of Chon Thanh town to Ho Chi Minh road in Minh Thanh commune, with a land-use area of 38.83 ha.
Chon Thanh has a convenient traffic system located at the intersection of 3 national highways: National Highway 13 passing through the district center, National Highway 14, and Ho Chi Minh road connecting the Central Highlands and Eastern provinces Southern. In addition, when deployed, the Dak Nong – Chon Thanh expressway will shorten the travel time to neighboring regions and encourage Chon Thanh’s economy to take off soon.
Chon Thanh district also has a faster urban development rate than the average rate of districts in Binh Phuoc province. On October 5, 2020, the Ministry of Construction issued a decision on the recognition that the area intended to establish Chon Thanh town met the criteria of a grade IV urban area. Chon Thanh town is the district’s administrative, economic, political, and socio-cultural center. It plays a role in promoting the community’s socio-economic development and supporting the development of urban space for Dong Xoai city.
Attracting many big real estate businesses
With a convenient location, traffic is gradually improving with the development of industrial parks. Chon Thanh town and surrounding areas are now quite developed, and technical and social infrastructure is a good investment and has the appearance of a modern city. Many new residential areas and service-commercial urban areas were invested in, and the urban face gradually appeared clearly.
According to the assessment, Chon Thanh is one of the districts possessing many advantages of Binh Phuoc province with a clean and abundant land fund, a complete infrastructure system, and a concentration of many industrial parks. Therefore, the real estate market of Chon Thanh altogether has a solid foundation for solid development in the future.
According to the infrastructure wave, land prices in some areas with substantial traffic in Binh Phuoc also increased sharply. Typically, at the DT753 route, the price increases 2-3 times; along National Highway 14, near industrial parks, it also increased by three times. Trading transactions were bustling. From the beginning of 2022 to now, the number of transactions has increased by 1.5 times compared to the end of the year. 2021.
With many advantages, it has helped create attractiveness for Binh Phuoc in the eyes of real estate and industrial investors. Recently, many businesses have flocked to Binh Phuoc, especially Chon Thanh, to explore investment opportunities and develop many large-scale projects.
Typical of the success of this trend is the Cat Tuong Park House project, the Japanese standard urban area in Chon Thanh, and projects like the Cat Tuong Phu Hung mega-urban that promise to stir up the market. Binh Phuoc real estate in the second half of 2022. These are well-invested projects, creating a new face for urban areas in many areas of Binh Phuoc and magnets attracting domestic and foreign investment flows to the province.