Ba Ria - Vung Tau: Development driven by infrastructure.

In the real estate market, Ba Ria - Vung Tau has long been a target of attraction, as it is the only locality in the Southeast region with a coastline. Recently, a series of infrastructure projects connecting to Vung Tau have been launched, making the city even more appealing.

Người Lao Động•03/07/2023

"The red thread" connecting supply and demand

In just one day in June 2023, this locality commenced construction on three key transportation projects, which are considered to be of particular importance in the future development strategy of Ba Ria - Vung Tau.

Ba Ria - Vung Tau: Development driven by infrastructure - Photo 1.

The Bien Hoa - Vung Tau Expressway project has a total length of 53.7km, passing through the provinces of Dong Nai and Ba Ria - Vung Tau. Of this, the section through Dong Nai province is over 34km long, and the section through Ba Ria - Vung Tau is 19.7km. Initially, the road will have 4 lanes, 24.75m wide. The completed phase will have 6 lanes, 32.25m wide, with a design speed of 100km/hour. The project is expected to be completed in 2025 and fully operational in 2026. The total investment is nearly 18,000 billion VND from public investment funds. When the Bien Hoa - Vung Tau Expressway becomes operational, it will promote connectivity with Long Thanh Airport and Cai Mep - Thi Vai deep-water port, boosting regional economic linkages.

In addition to the groundbreaking ceremony for the Bien Hoa - Vung Tau expressway project, the Ministry of Transport also coordinated with Ba Ria - Vung Tau province and Dong Nai province last week. They also held the groundbreaking ceremony for the Phuoc An Bridge Project, spanning the Thi Vai River and connecting Phu My town in Ba Ria - Vung Tau province and Nhon Trach district in the province. Dong Nai . The Phuoc An bridge project has a total length of approximately 4.4km. Of this, the bridge itself is over 3.5km long, with the main span designed in a "sail" shape. The approach road to the bridge is 247m long. The connecting road to the Phuoc An port is over 600m long.

Another infrastructure project that Ba Ria - Vung Tau province started construction on last week is the Vung Tau - Binh Thuan Coastal Road Upgrade and Expansion project, which is nearly 77km long, with 6-8 lanes and a design speed of 80km/h. The starting point intersects with Road 991B in Phu My town, and the end point intersects with National Highway 55 in Binh Chau commune, Xuyen Moc district. The Vung Tau - Binh Thuan Coastal Road Upgrade and Expansion project is managed by the Ba Ria - Vung Tau Provincial People's Committee and is invested in by the Provincial Transportation Project Management Board, comprising 5 component projects with a total length of 57.46km.

Along with the Bien Hoa - Vung Tau Expressway, other important transportation projects such as the expressway connecting the intersection of National Highway 56 in Ba Ria City to the 51B,C roundabout in Vung Tau City, Phuoc An Bridge, and Provincial Road 994… will create a "red thread" of a smooth, modern transportation network, linking the infrastructure within Ba Ria - Vung Tau province in particular and connecting this locality with the Southern key economic region, creating important national and international transportation routes.

Opening the way for real estate

As many experts have noted, real estate development follows infrastructure growth. Immediately after the launch of several connecting infrastructure projects in Ba Ria - Vung Tau, the real estate market in Ba Ria - Vung Tau began to see a resurgence of property hunting. However, the current real estate search in Ba Ria - Vung Tau still primarily focuses on properties with real value, representing asset accumulation and effective exploitation potential.

Ba Ria - Vung Tau: Development driven by infrastructure - Photo 2.

For example, recently, DIC Holdings Construction Joint Stock Company, the developer of the SG Holdings project, launched Vung Tau Centre Point, and SG Holdings announced the project's products to the market, receiving exceptional customer interest. According to Mr. Nguyen Thanh Sang, General Director of SG Holdings Real Estate Company, although the official sales launch is scheduled for the end of July, hundreds of customers have already expressed interest and reserved units. This is remarkable given the current challenging market conditions.

According to Mr. Sang, based on surveys of customer sentiment, the reason this project is attracting attention is because it is the first high-end apartment project with permanent ownership rights in Vung Tau. The project consists of 2 blocks, 25 stories high, with only 540 apartments, 26 duplex penthouses, and 29 shophouses. It boasts a prime location with four street frontages in the heart of Vung Tau city and has completed all legal procedures.

Besides being a safe investment with high asset accumulation value and high potential for utilization, another factor attracting many customers is the flexible sales policy. With prices starting from only 42.9 million VND/m2 and payments of just 1% per month, customers also receive a special offer of 24 months of free management fees. In addition, there is support from reputable banks with a "3 zeros" policy: no interest, no early repayment fees, and no principal repayment for 12 months.

Real estate experts believe that Ba Ria - Vung Tau possesses all the necessary elements – favorable timing, geographical advantages, and human resources – to become a potential industrial and tourism development hub in the Southeast region of Vietnam. This is because it is the only province in the Southeast with a coastline, boasting a 305 km long beach with many beautiful bathing areas, considered the "heart of coastal tourism" in the South. The biggest "bottleneck" in Ba Ria - Vung Tau in recent times has been the overloaded and frequently congested National Highway 51. However, once this bottleneck is removed, it will create a powerful impetus for Ba Ria - Vung Tau in general and its real estate market in particular.

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Source: https://diaoc.nld.com.vn/thi-truong-nha-dat/ba-ria-vung-tau-dong-luc-phat-trien-tu-ha-tang-20230703152939981.htm