Coastal CBDs: The new property standard in tourist cities.

After years of valuing real estate based on expectations of price appreciation, the market is returning to a more fundamental question: Does the property generate real use value? That's why the coastal CBD model is being discussed as a new property standard in tourist cities.

When water bodies become the core of urban operations.

Darling Harbour, Sydney - a waterfront CBD model combining waterfront amenities, commerce, services, and urban experiences.

Around the world , many successful coastal cities owe their success not only to beautiful waterfronts, but also to transforming them into the core of urban life. Marina Bay in Singapore, Darling Harbour in Sydney, and Dubai Marina demonstrate a common thread: Waterfronts are not just landscapes, but experiential infrastructure where residents, tourists, businesses, services, and entertainment all contribute to a continuous flow of activity.

For investors, this is a significant difference. A property near the sea may have scenic value, but a property in a coastal CBD (Central Business District) offers the added advantages of high traffic, development potential, and liquidity. In other words, investors aren't just buying a geographical location, but a location within a thriving business environment.

A common characteristic of successful waterfront CBDs is the scarcity of repeat supply. According to the OECD, approximately 40% of the world's population lives in coastal areas, even though these regions account for only about 20% of global land area. However, to form a true coastal urban center, land must not only be close to water but also large enough for long-term development, well-connected to maintain visitor flow, and have a sufficient ecosystem to generate year-round activity.

For the coastal areas of Ha Long Bay, this challenge also involves the need to preserve the landscape, manage urban development, and exploit tourism associated with natural heritage. Therefore, areas that are both close to the water and large enough to form residential, commercial, and service communities become a source of supply that is difficult to replicate.

When cash flow prioritizes where operations are located

A market research report on Quang Ninh by Batdongsan.com.vn shows that some properties in the former Hung Thang area (Ha Long), a region with many projects belonging to the Halong Marina ecosystem, have recorded price increases ranging from 74% to 100% from 2023 to the present.

Notably, this increase is not separate from the operational foundation. Halong Marina is currently a coastal urban area with a community of approximately 20,000 residents, integrated amenities, and practical development potential. Here, investment flows not only to properties with beautiful views, but also to places that are already inhabited, attract visitors, have operational amenities, and have the potential to sustain consumer spending.

The value of beachfront properties is increasingly tied to their operational potential and actual activity levels.

Halong Marina: From a central urban area on the bay to an investment ecosystem.

Halong Marina, developed by BIM Land, is approaching the model of a seaside CBD on the shores of Ha Long Bay. The distinguishing feature of this urban area lies in its transition beyond simply offering real estate products to form an ecosystem encompassing residents, tourists, commerce, services, accommodation, and entertainment.

The presence of provincial-level public institutions such as the Quang Ninh Provincial People's Procuracy and the Quang Ninh Provincial People's Court, along with educational, commercial, and service amenities such as international schools, LOTTE Mart, restaurants, and seaside entertainment clubs, is adding an extra layer of urban functionality to the area.

More importantly, Halong Marina doesn't operate according to the logic of a seasonal tourist resort. Weekly and monthly community activities, along with existing and continuously expanding amenities, create a continuous operational rhythm. For investors, this is a crucial foundation for assessing the asset's potential for exploitation.

Halong Marina is being developed as a central urban area on the bay, integrating residential, resort, commercial, and entertainment functions.

A notable feature of Halong Marina is the diversity of its product portfolio. The high-rise units cater to flexible functional needs: living, renting, accommodation, and value appreciation. Meanwhile, the low-rise units are geared towards commercial, service, F&B, lifestyle retail, and attracting local customers.

A perspective view of the Prima Bay twin towers' location on the Hoàng Quốc Việt boulevard, at the gateway to the Halong Marina urban area.

Specifically in the high-rise segment, new developments like Prima Bay and Aria Bay are contributing to the completion of the Halong Marina ecosystem in a new growth cycle. Located at the gateway to Peninsula 1, Prima Bay boasts a prime location on Hoang Quoc Viet Boulevard, strategically positioned to attract tourists, experiences, and operational flows throughout the area. Designed by master designers from Mercurio Design Lab, the twin towers are inspired by modern Italian style, featuring 82.15% studio apartments and 80 multi-level amenities, catering to flexible accommodation needs and optimizing operational advantages in the Quang Ninh tourism market.

Meanwhile, Aria Bay holds a central position in the "fashionable district" Marina Bayfront District (Peninsula 3 – Halong Marina). Positioned as "Front Row Life" – a prime location overlooking the heritage bay, the iconic tower boasts the advantage of "a step away from the sand," panoramic views encompassing the bay, lake, and city, and a coastal lifestyle with a strong international influence. With an absorption rate of over 70% just 6 months after its market launch, Aria Bay demonstrates the impressive appeal of properties located in the core of a coastal urban area.

Halong Marina is following the development logic of an integrated coastal urban center. With its existing residential community, Halong Bay's tourist flow, integrated amenities, regular activities, and diverse product portfolio, this urban area is creating a platform that investors are increasingly interested in: assets that are not just for ownership, but can participate in the economic life of the destination. In today's coastal real estate market, this may be the most important difference between a beautiful property and one that has the potential to generate long-term value.

Nguyen Khang

Source: https://baoquangninh.vn/cbd-ven-bien-chuan-tai-san-moi-tai-cac-do-thi-du-lich-3409353.html