Press Release- For Immediate Release
Despite the international attention on Hanoi from the US-NK Summit, Vietnam’s Ho Chi Minh City continues to superhead as its strong export output reshapes its economy into one of the world’s top performers. Jones Lang LaSalle (JLL)’s City Momentum Index (CMI) 2019 ranked HCMC as one of the top 10 urban economies in the world, highlighting its status as a destination for global capital, commerce and innovation.
Ho Chi Minh City’s Thu Thiem is especially seeing a transformation as the government’s master plan regenerates the district into the city’s extended CBD. Residential projects like de Capella Thu Thiem D2 is expected to be an upscale home for the financial elite community. De Capella Thu Thiem D2 starts from HKD 1.5M and is located in the center of District 2 with convenient access to the city through its extensive infrastructure network.
HCMC: Vietnam’s FDI & export powerhouse
Ho Chi Minh City’s economic growth is being buoyed by a robust domestic demand, increasing trades and foreign direct investments (FDI) as seen through its rapid and ambitious development. HCMC will target a gross regional domestic production (GRDP) growth in 2019 to exceed 2018’s 8.3% in order to improve its competitiveness.
In the first 2 months of 2019, the city attracted over USD 1 billion worth of FDI capital up 94.7% from last year, while capital increase grew 470% year on year, according to the Vietnamese Ministry of Planning and Investment. The city further licensed 165 FDI projects of over USD 96 million in January and February alone and saw an outperforming growth in total exports exceeding USD 6.2 billion, up 16% compared to an increase of 9.8% year on year.
Extensive infrastructure to upgrade market value
To support its economic development and increased trade businesses, infrastructure initiatives are significantly transforming the connectivity of the city. The Long Thanh International Airport master plan is expected to accommodate 100 million passengers and 5 million tonnes of freight per year besides the expansion plan of Tan Son Nhat International Airport to increase capacity to 50 million passengers per year.
HCMC’s Metro Line, connecting the famous Ben Thanh Market, Opera House, Thao Dien (District 2) and Saigon Hi-tech Park (District 9) and reducing travel time by half, is additionally giving light to the city’s property market. CBRE’s 2019 research and forecast predicts that as the Metro Line 1 begins operation in 2020, projects within close radius to the Metro Line will see an increase of 20% in future prices. As the Metro Line system completes following schedule, market value will increase above this initially- predicted range.
Thu Thiem as HCMC’s ‘West Kowloon’ and community for business elites
The Thu Thiem CBD expansion is set to ease the congested traffic and alleviate the lack of supply occurring in District 1’s existing CBD. According to industry experts, as infrastructure improves within Thu Thiem, it is anticipated that large firms will migrate into the area as an alternative to the existing CBD.
Thu Thiem is a strategic core of HCMC. The Thu Thiem Bridge and Thu Thiem Tunnel have added advantages to its connectivity to the existing CBD in District 1. Upcoming cross-river Thu Thiem bridges, the Metro Line 2 and Thu Thiem Bridge 2, will increase connectivity to other districts, including the upcoming Long Thanh International Airport, all of which will position Thu Thiem as HCMC’s upcoming ‘West Kowloon.’
From 2000 to 2017, Vietnam’s wealth growth grew by 210% and is expected to grow 12% per year by 2020. World Bank’s report shows that the Vietnamese middle class has been expanding by 1.5 million people annually while most reside in HCMC. Thao Dien, at the north of District 2’s peninsula, further thrives as a playground and home for the wealthy business community. Specialists expect that growing value in District 2 will continue as the market benefits from a high demand of a luxury residential segment.
In the light of HCMC’s expanded CBD
“Investors and the local community are beginning to recognize the strong growth potential of Thu Thiem brought by its transport infrastructure,” Mr. Terence Chan, Managing Director of Golden Emperor explains. “Centered among HCMC’s key districts, Thu Thiem will be the focal point to allure professionals and elites to reside in this thriving financial center. The rising city wealth will also increase the middle- and upper-class population, all of whom will demand upscale and higher- quality housing. The current undersupply and HCMC’s metro system will largely stimulate the market value of the district’s residential sector.”
Merely a 10-minute drive away from District 1 with the Thu Thiem Tunnel and Thu Thiem Bridge, de Capella Thu Thiem D2 provides utter convivence for its residents. The upcoming Metro Line 2 Ben Thanh will be in close proximity to the residence and HCMC’s tallest skyscraper, Landmark 81, with entertainment and mixed-use space will be accessible within a 10-minute drive.
Housing 380 1- bedroom to 3- bedroom units from 46.48 square meters to 95.37 square meters, de Capella Thu Thiem D2 starts from HKD 1.5 M providing an expected rental return of 7% per annum. On-site amenities include a swimming pool, a gym center, children’s play area, walking area, a shopping center and a supermarket. This upscale residence will be favored among the working elites of Thu Thiem’s upcoming CBD.
About Quoc Cuong Land
As a member of the Quoc Cuong Gia Lai Group, Quoc Cudong Land has more than 10 years of experience in building and trading real estate projects in many segments, including residential projects, apartments, commercial complexes, office buildings and resorts. The team at Quoc Cuong Land is highly experienced in local resources and innovative thinking. Currently, the company has more than 10 projects focusing on developments in Ho Chi Minh City’s District 2, Phu My Hung in District 7, District 5 and District 8. http://www.quoccuongland.vn
About Golden Emperor Properties Inc.
Golden Emperor Properties (HK) Limited is a Hong Kong-based property agency company that offers property investments worldwide to clients in Hong Kong and internationally. Since the establishment of the company, it has accomplished close partnerships with developers from USA, UK, Australia, Thailand, Vietnam, Malaysia, Singapore, Japan and Europe. The company has a team of dedicated sales representatives to provide consultation and services on relevant enquiries for investors, including tax information, buy and sell procedures, payment schedules and etc. www.goldenemperor.com
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