Quang Ninh becomes new center of resort real estate market

Last update 08:00 | 02/03/2017

VietNamNet Bridge – With big real estate players such as Vingroup, Sungroup and FLC and the provincial authorities’ policy on investment in infrastructure, Quang Ninh has become a new magnet in the resort real estate market.

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Analysts have begun talking about a ‘resort real estate wave’ in Quang Ninh, especially in Ha Long City, where there is the world’s natural heritage Ha Long Bay.

Ha Long has great potential to develop tourism with the number of foreign and domestic travelers on a strong rise. Meanwhile, the average income per capita of Quang Ninh’s residents is relatively high, just after HCM City. However, there are still not many high-end accommodation projects in the city.

With big real estate players such as Vingroup, Sungroup and FLC and the provincial authorities’ policy on investment in infrastructure, Quang Ninh has become a new magnet in the resort real estate market.

All these make Quang Ninh an attractive market for investors. However, they have only seen it their new strategic market in the last one to two years, when the provincial authorities began spending big money on infrastructure.

A series of key infrastructure projects have been developed recently, especially highways, expected to be completed in 2017-2018.

These include Ha Long – Hai Phong, which connects Quang Ninh and an important port city in the north, capitalized at VND6.4 trillion; the Bach Dang Bridge VND7.388 trillion; Ha Long – Van Don VND10.602 trillion; the 4B Highway; a port in the northern part of Cai Bau Island; Van Tien Bridge and Van Don non-tariff area.

The Van Don International Airport is preparing to put the first runway into operation in early 2018. The Hanoi – Hai Phong – Ha Long – Mong Cai highway routes will be completed from now to the end of 2017, which will help reduce the time for traveling between Hanoi and Ha Long by one hour.

Truong Manh Hung, deputy head of the Investment Promotion Committee, said the provincial authorities’ clear development strategy was a prerequisite for investors to decide to pour money into Quang Ninh, especially the real estate sector.

The province has attracted 100 real estate projects with total registered investment capital of VND100 trillion over the last two years.

The two big players Sungroup and Vingroup alone have poured VND30 trillion into Quang Ninh.

Others have also joined the ‘game’ including FLC with FLC Ha Long project with investment capital of VND3.4 trillion, HD Mon Holdings with Mon Bay VND5 trillion. BIM Group, Tuan Chau and Geleximco also have projects there.

A local newspaper commented that Quang Ninh is a great construction site of high-end real estate projects. In Ha Long, Vinpearl has just become operational, while Dai Duong Park of Sungroup has just been inaugurated. In Van Don, Sungroup is developing an integrated resort with casino.


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This entry was posted in Quảng Ninh and tagged , by Trần Đình Hoành. Bookmark the permalink.

About Trần Đình Hoành

I am an attorney in the Washington DC area, with a Doctor of Law in the US, attended the master program at the National School of Administration of Việt Nam, and graduated from Sài Gòn University Law School. I aso studied philosophy at the School of Letters in Sài Gòn. I have worked as an anti-trust attorney for Federal Trade Commission and a litigator for a fortune-100 telecom company in Washington DC. I have taught law courses for legal professionals in Việt Nam and still counsel VN government agencies on legal matters. I have founded and managed businesses for me and my family, both law and non-law. I have published many articles on national newspapers and radio stations in Việt Nam. In 1989 I was one of the founding members of US-VN Trade Council, working to re-establish US-VN relationship. Since the early 90's, I have established and managed VNFORUM and VNBIZ forum on VN-related matters; these forums are the subject of a PhD thesis by Dr. Caroline Valverde at UC-Berkeley and her book Transnationalizing Viet Nam. I translate poetry and my translation of "A Request at Đồng Lộc Cemetery" is now engraved on a stone memorial at Đồng Lộc National Shrine in VN. I study and teach the Bible and Buddhism. In 2009 I founded and still manage dotchuoinon.com on positive thinking and two other blogs on Buddhism. In 2015 a group of friends and I founded website CVD - Conversations on Vietnam Development (cvdvn.net). I study the art of leadership with many friends who are religious, business and government leaders from many countries. In October 2011 Phu Nu Publishing House in Hanoi published my book "Positive Thinking to Change Your Life", in Vietnamese (TƯ DUY TÍCH CỰC Thay Đổi Cuộc Sống). In December 2013 Phu Nu Publishing House published my book "10 Core Values for Success". I practice Jiu Jitsu and Tai Chi for health, and play guitar as a hobby, usually accompanying my wife Trần Lê Túy Phượng, aka singer Linh Phượng.

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