Bac Ninh real estate in the national urban economic space development strategy

At the seminar: "Golden opportunity for Bac Ninh real estate after expanding development space" organized by the Vietnam Real Estate Association (Vnrea), Vietnam Real Estate Electronic Magazine in collaboration with the Vietnam Real Estate Research Institute on October 16 in Hanoi, Mr. Pham Nguyen Toan, Vice President of Vnrea, Editor-in-Chief of Vietnam Real Estate Electronic Magazine, Chairman of the Vietnam Industrial Real Estate Association said that the merger of the two provinces of Bac Giang and Bac Ninh has opened up a new and promising development space for the locality, aiming to become an industrial center, knowledge services and innovation of the extended Capital region; at the same time, it is opening up a golden opportunity for Bac Ninh in attracting investment and developing the real estate market.

Photo caption — Mr. Pham Nguyen Toan, Vice President of Vnrea spoke at the seminar.

Currently, key traffic routes such as Hanoi - Bac Giang Expressway, National Highway 18, Ring Road 4, and inter-provincial connecting beltways are creating a complete regional connection network, opening up strong development opportunities for large-scale urban areas and industrial parks. The presence of large corporations in industrial parks and industrial clusters also creates great demand for real estate and urban support services.

According to experts, the space and potential of the Bac Ninh real estate market lies in the diversity of segments, including: Satellite urban areas and new urban areas along strategic traffic axes; housing for experts, engineers, and workers in expanded industrial parks; commercial, service, and logistics real estate associated with key industrial parks; smart urban projects and modern residential areas serving the needs of a rapidly urbanizing population.

The period of 2025 - 2030 is forecast by experts to be a pivotal time for localities to reposition the Northern real estate market. In particular, when real estate prices in central areas increase sharply, individual investors tend to "accelerate" the movement of cash flow to areas where land prices are still soft and have high growth potential. In the context of scarce land funds in central areas and high population density, satellite urban areas are the solution to the problem of population dispersion, investment dispersion and reallocation of regional development resources. Areas such as Tan Yen, Yen Phong, Tien Du, Thuan Thanh... are considered "bright spots" for new investments, with high price increases and liquidity. It is forecasted that real estate values in areas benefiting from infrastructure can increase by an average of 10 - 15% per year in the period of 2025 - 2030.

Anticipating the trend and the shift in cash flow in the market, many investors have "accelerated" the implementation and are ready to launch a series of potential real estate products with clear legal status. Notably, the Bac Cao Thuong Residential Area project (Hawee Parkland Cao Thuong) in Tan Yen is invested by Hawee Real Estate Joint Stock Company. The project owns more than 30 internal facilities such as central square, lake park, sports field, community activity area, clubhouse, commercial center... to meet the residential and business needs of residents...

Mr. Pham Nguyen Toan further analyzed that in recent times, Bac Ninh has been known as an "industrial bright spot", an FDI "factory" with big names and leading industrial parks. Therefore, in the coming period, Bac Ninh needs to be viewed in a higher vision, becoming a new growth pole of the Northern real estate market due to many advantages such as: The locality is forming a high-tech industrial center in Yen Phong, Viet Yen, Dinh Tram... leading FDI and the semiconductor, electronics, and precision mechanical industries.

In addition, the province has formed a strategic logistics infrastructure center linked to the backbone traffic axes: Hanoi - Lang Son Expressway, Lao Cai - Hanoi - Hai Phong railway, and in the future, Gia Binh airport - a fulcrum for Bac Ninh to expand into the region; there are emerging satellite urban belts, such as Tan Yen and Nha Nam, with a lot of clean land, reasonable prices, strategic locations, and high connectivity. This is the strategic picture that creates a "golden opportunity" for the real estate market.

The seminar analyzed the current state of the Bac Ninh real estate market, helping state management agencies, experts and scientists discuss how to turn development space into a space of aspiration; discuss institutional and policy solutions to turn the "golden opportunity" into a "sustainable development ecosystem"; suggest to investors long-term, strategic opportunities and experiences, instead of chasing short-term "hot waves".

Associate Professor, Dr. Tran Dinh Thien, Member of the Prime Minister's Policy Advisory Council, former Director of the Vietnam Economic Institute, affirmed that Bac Ninh possesses advantages in terms of long-standing traditional culture and history; advantages in scale when combining the strength of the two industrial capitals Bac Ninh and Bac Giang (old) which are on the path of strong development, with the ability to attract large FDI from multinational corporations; advantages in traffic infrastructure when many important routes of the region and the country pass through the province. With its position as an important link in the Capital region, Bac Ninh has favorable conditions for urban and real estate development in the direction of high technology but associated with cultural identity.

From a planning perspective, Associate Professor Dr. Nguyen Quang Tuyen, Vice Chairman of the University Council, Dean of the Faculty of Economic Law, Hanoi Law University, forecasts that by 2030, the capital city of Hanoi will reach 10 million people, and the Hanoi metropolitan area (mega city) may reach 21 - 23 million people. In that context, Bac Ninh will benefit from a strong wave of population dispersion. At that time, Bac Ninh will become an important "transit station" of the Hanoi Capital Region, not only in terms of logistics, trade - industry but also a convergence point of investment capital, human resources and modern urbanization.

Sharing the same view, Mr. Bui Van Doanh, Director of the Vietnam Real Estate Research Institute, commented that in the existing central urban areas of the province, the development space is gradually becoming cramped, while the technical infrastructure and social infrastructure systems are starting to show signs of overload. Therefore, the expansion of development to satellite urban areas such as Tan Yen and Nha Nam (new) of Bac Ninh is expected to explode strongly, becoming the gateway for industrial - urban - commercial development in the North.

Regarding this issue, Mr. Nguyen Tuan Binh, Deputy General Director of Kinh Bac Real Estate Investment and Trading Joint Stock Company, shared that Tan Yen is in the "planning peak" stage, when industrial infrastructure is being strongly deployed and land prices are still 30-40% lower than old industrial areas such as Yen Dung or Viet Yen. Participating in the Tan Yen real estate market at this stage, investors are catching the "wave" of planning, not yet in the "profit-taking" stage. Investors can completely expect a stable price increase of 20-30% when infrastructure and population are formed, while benefiting from the large rental demand in the specialist housing and high-end real estate segments...

Bac Ninh can and must become a new development model of the North, not only because of its geographical location or available potential, but because this is a place that has all the necessary and sufficient conditions to become a model growth pole not only for the Capital region but also for the North.

Source: https://baotintuc.vn/kinh-te/bat-dong-san-bac-ninh-trong-chien-luoc-phat-trien-khong-giant-kinh-te-do-thi-quoc-gia-20251016151145363.htm