Creating a multi-spatial development trend from the Capital Region
At the seminar "Prospects for Real Estate Investment in the Capital Region Cities" organized by Reatimes Magazine this morning (May 15th), Associate Professor, Dr. Tran Dinh Thien - Member of the Prime Minister 's Policy Advisory Council - stated that the Capital Region is not actually a new concept, however, the perception, approach, and expectations placed on this special geographical space are changing in depth and breadth.
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Associate Professor Dr. Tran Dinh Thien - Member of the Prime Minister's Policy Advisory Council. |
According to Mr. Thien, the Capital Region is being reshaped as the country's strategic growth space, a real driving force, capable of creating a breakthrough in the new era. When the country establishes a new position in the global value chain, the Capital Region also shifts its role, from a satellite of Hanoi to a regional development pole in the modern economic - political - social structure.
This represents a turning point from an economy based on resources and cheap labor to a creative, high-tech economy. From extensive development to intensive development. To do that, the growth space needs to be expanded.
Mr. Thien argues that growth cannot remain confined to the "ground" with its limitations in land resources, infrastructure, and population. The idea of expanding physical space into digital space, underground space, elevated space, maritime space, and even outer space is being put forward as a new development proposition. And the Capital Region, with its advantageous mountain-facing and sea-facing location, could become the focal point of this multi-spatial development trend.
Transforming from a core urban model to an extended urban system with provinces such as Bac Ninh, Vinh Phuc, and Hung Yen aiming to become centrally-run cities. The model of a metropolitan area integrating industrial services and smart green urban resorts is beginning to take shape.
“This is a sign that real estate in the suburbs of Hanoi is entering a new cycle, from passively receiving the need for population dispersion to proactively receiving large-scale, diverse and sustainable investment capital flows,” said Mr. Thien.
Currently, the Capital Region has 7 surrounding ring roads. Even within Hanoi itself, Dong Anh, Soc Son, and Dan Phuong are undergoing transformation and strong development.
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A strong growth in the Capital Region will provide impetus for national growth. |
Dr. Can Van Luc - Member of the Prime Minister's Policy Advisory Council - said that the Capital Region has about 10 cities and provinces. The economic growth rate is quite positive. In the first quarter, the Capital Region had a growth rate of more than 9.4%.
According to Resolution 60, after the merger, the Capital Region is expected to comprise 7 provinces and cities, including: Hanoi; Hung Yen (Hung Yen + Thai Binh); Ninh Binh (Ha Nam + Ninh Binh + Nam Dinh); Phu Tho (Vinh Phuc + Phu Tho + Hoa Binh); Bac Ninh (Bac Ninh + Bac Giang); Thai Nguyen (Thai Nguyen + Bac Kan); and Quang Ninh.
"If the Capital Region can create good growth poles, the country will also have more momentum for growth," Mr. Luc said.
Will the real estate market undergo a transformation?
Dr. Nguyen Van Khoi, Chairman of the Vietnam Real Estate Association, believes that the urban real estate market in the Capital Region is facing bright prospects. Currently, the trend in urban real estate development in the Capital Region is very diverse and moving towards sustainability and modernity.
First, residential real estate continues to be the core demand across many segments. The Capital Region is focusing on developing commercial housing projects, social housing and new urban areas to meet the needs of hundreds of thousands of people in the coming decade.
Many large-scale integrated urban areas have been and are being implemented. These projects not only provide housing, but also fully integrate commercial, educational, medical, and entertainment services, etc., towards a convenient and smart "miniature city" model.
Alongside residential properties, industrial and logistics real estate in the Capital Region also has strong growth potential. This area is currently a bright spot attracting foreign direct investment (FDI) with a series of large industrial parks in Bac Ninh, Bac Giang, Vinh Phuc, Hung Yen, and Hai Duong.
Mr. Khoi believes that these trends align with the development direction of a civilized, green, clean, and modern capital city, as envisioned by the Capital City Law and the Capital City planning. Combining these factors, Mr. Khoi is confident that urban real estate in the Capital Region will experience a strong breakthrough in the near future.
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Dr. Can Van Luc - Member of the Prime Minister's Policy Advisory Council. |
Mr. Can Van Luc added that in the Capital Region in the coming time, there will be a series of key infrastructure projects to be implemented. For example, the Ring Road 4 project and the Ring Road 5 project. In addition, the Lao Cai - Hanoi - Hai Phong Railway project with a total investment of about 203,000 billion VND will also be implemented in the coming time.
Source: https://tienphong.vn/dau-hieu-moi-ve-bat-dong-san-vung-ven-ha-noi-post1742488.tpo
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