Why Bac Ninh is a Fertile Land for Real Estate Investment?

Why Bac Ninh is a Fertile Land for Real Estate Investment?

The rapid development of FDI enterprises, as well as the infrastructure in Bac Ninh, is becoming more and more complete, the lack of utility services and high-end housing, ... that makes many investors expect in a bustling Bac Ninh real estate market in the coming time. Bac Ninh is considered as the capital of industrial park and hi-tech projects.

In the past years, Bac Ninh has always been at the top province attracting FDI inflows, being an attractive place with many big economic groups in the world such as Samsung (Korea), Canon (Japan) , Hong Hai (Taiwan), Microsoft, ABB, Foxconn ... come to invest.

Up to now, the province has attracted more than 980 FDI projects with total registered capital of more than US$ 15 billion. Samsung alone has poured billions into Bac Ninh. Many big FDI projects in Bac Ninh have been built quickly and put into effective production - business operation. Some can be mentioned such as Hanwha Techwin Security projects of Hanwha Techwin Security Company (South Korea) with registered capital of $100 million and expanded project of Samsung Display Vietnam Co., Ltd with additional capital of US$ 2.5 billion in Yen Phong Industrial Zone. Large FDI projects in Bac Ninh have brought stable employment and high income for local people. According to statistics, only in the last 5 years, Bac Ninh's GDP per capital has nearly doubled, reaching $ 5,000 in 2016, in the TOP of the country.

In addition, more and more the large-scale FDI expanded projects in Bac Ninh will also involve a large number of foreign experts working in industrial parks and hi-tech parks. According to preliminary statistics, there are now more than 45,000 foreign experts and engineers. This work force has increased from 20-25% annually in Bac Ninh.

However, the current infrastructure and services in Bac Ninh has not kept up with both quantity and quality to meet individual needs for this number of specialists. Most of the foreign experts of Korea, Japan ... are rented by their companies in Hanoi.

Therefore, experts said that Bac Ninh converges all the elements to become fertile land to invest in real estate. High-end real estate products are well received, which is a good signal for the development of synchronous urban areas.

For example, Kinh Bac Urban Development Joint Stock Co (KBC) has cooperated with Hai Phat Land to introduce the project and investment opportunities in Phuc Ninh new urban area, located right in the administrative center of Bac Ninh City.

This will be one of the modern urban areas that are prioritized by local authorities to make Bac Ninh a first class city and a prerequisite for the future of the city.

This project is comprehensively planned on an area of over 136 ha, a large-scale urban area with modern and technical infrastructure designed by Surbana Company of Singapore.

Phuc Ninh project quickly created a great attraction for Bac Ninh people and real estate investors. At the presentation of this project, the investor stated that it has had thousands of customers, investors interested.

At the ceremony, there were also hundreds of customers who registered for the project as "townhouses and villas". In the first phase, the investor is deploying the technical infrastructure construction of the 22ha area, with the duplex villas of 180-240m2, high-class garden villas from 400-600m2, 120m2 townhouses.

Previously, the Phuc Ninh project has sold out phase 1 in early 2017 with about 100 villas and adjacent houses in the area of 6.2ha recorded a profit before tax of about 140 billion.

This shows that the market of townhouses and villas in Bac Ninh City in well-planned urban areas is always best selling, receiving great attention of local people.

Not only that, the hotel market, high-end apartments and condominium are also developing strongly in Bac Ninh city. Its advantages is adjacent to the main roads of the city such as Ly Thai To Street, Ngoc Han Cong , Viet Trang urban area ... is the place where many foreign experts live.

Furthermore, the strong development of transport infrastructure and utility facilities around the city has also positively affected the real estate market in Bac Ninh in recent years.

The high-end real estate products in Bac Ninh are quickly attracting investors, in addition to Bac Ninh is considered a potential market with the strengths to develop real estate as dramatically quick economic growth, FDI booming, tens of thousands of specialists, investors are expected to increase the price of Bac Ninh real estate in the future when it becomes a centrally-run city.

Source: Tri Thuc Tre

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