Hoa Lac will be the western city center of Hanoi
According to the Adjustment General Planning of Hanoi Capital until 2045, the vision until 2065 was submitted by the Hanoi People’s Council to the City Council. The western city of Hanoi will include Hoa Lac urban area and Xuan Mai urban area. This city is expected to expand and develop to Tich River and Bui River, and will become a scientific and educational city.
The total area of the city is about 251 km2, with a population of about 1.2 million by 2045. Specifically, the urban built-up area is about 135 km2, with a population of about 1.08 million; the suburban area is about 116 km2, with a population of about 0.12 million. The administrative unit includes 16 wards and 8 communes.
Developing Hoa Lac hi-tech park into the western city center of Hanoi.
The western city will be a smart city, a scientific city that concentrates advanced intelligence and technology, absorbs international scientific and technological advancements, and trains high-quality human resources. Specifically, Hoa Lac urban area will be the brain hub of high-tech scientific and technological, training center, with universities, high-tech parks, laboratories, digital technology, artificial intelligence, semiconductor technology… Xuan Mai urban area will be the education center, research center and educational support services such as startup support center…
In addition, the Western city will also develop tourism and resort towns, becoming the western Hanoi regional center based on the natural topography structure, connected with the Ba Vi – Dong Mo system and the Tich River, and national technical infrastructure such as National Highway 21, Ho Chi Minh Road. Develop ecological urban areas, synchronized new residential areas on social infrastructure and technical infrastructure, development linked with hilly terrain and existing water system of the area. Develop recreational and eco-tourism projects to serve the capital and surrounding areas.
Infrastructure development booming
Along with the development of Hoa Lac into the western city center, the surrounding transportation infrastructure is also being invested and constructed.
Specifically, in October 2023, Hanoi started the construction of the Thang Long expressway, the section connecting National Highway 21 to Hoa Lac – Hoa Binh expressway with a total investment of VND 5,249 billion. According to the leader of Hanoi City People’s Committee, after completion, this project will create motivation for the development of Hoa Lac satellite city and the western satellite city chain; create conditions to meet the technical infrastructure of western city in the future.
In addition to this road, the Hoa Binh – Moc Chau expressway project, which is 34 km long, with 2 lanes, 12 meters wide, and a total investment of VND 9,997 billion, is also expected to be implemented from 2024 to 2028. After completion, the expressway will connect the foreign transportation network of Son La province with Hoa Binh and Hanoi. From there, the project contributes to creating a high-speed road connecting the Northwest region with the key economic region of the Red River Delta, connecting to the Northeast border gate and Lach Huyen international seaport.
Hanoi’s belt road planning.
Along with the high-speed road axes that are the backbone of the transportation in the west, the connecting belt roads, and belt road 3.5 are also being rapidly connected. Hanoi is also striving to complete the Ring Road 4 – Capital Circle Region Project before 2027 and prepare to invest and construct Ring Road 5 before 2030…
While the transportation infrastructure is being invested and implemented, the social infrastructure around the Hoa Lac area is also being accelerated. While the National Academy of Arts has been built and put into operation, the Central Obstetrics Hospital project No.2 and the Central Pediatrics Hospital project No.2 in Quoc Oai district, Hanoi are gradually taking shape after 1 year of construction.
Identifying potential real estate area
According to the assessment of astute investors, once Hoa Lac becomes the western city center, the real estate market in Ba Vi, Xuan Mai, and especially Hoa Binh will have strong breakthroughs. While Hoa Lac land has been continuously heated up, Ba Vi and Xuan Mai lack large-scale projects, Hoa Binh has emerged as a potential area with large resort towns.
According to Mr. Vu Cuong Quyet – General Director of Dat Xanh Northern, according to the expected planning, the western city will develop into a tourism and resort city, which will be very favorable for the development of the Hoa Binh real estate market. “If before, Hoa Binh was almost only associated with the resort real estate segment, now there will be more resort towns,” Mr. Quyet affirmed.
Also according to Mr. Quyet, there will be a group of wealthy people, experts working in Hoa Lac but with a need for a high-class living in resort towns near the golf course in Hoa Binh. With the breakthrough development of the Hoa Lac – Hoa Binh connecting expressways, this class can easily commute from Hoa Lac – Hoa Binh in a day.
Hoa Binh real estate “accelerates” according to the western Hanoi city.
Observations show that to keep up with the development of the western Hanoi city, many large-scale projects in Hoa Binh are also speeding up their market launch this year. Among them, Casa Del Rio with a scale of 142 hectares can be mentioned. Located at the golden gateway connecting Hoa Lac – Hoa Binh, the project is divided into 03 zones including Roma, Paris, Berlin with types of products such as shophouses, villas, townhouses targeting residential and vacation home buyers working in Hoa Lac.
Along with this project, at the beginning of 2024, some projects in Hoa Binh are also being reintroduced to the market, such as the Ivory Villas & Resort project. Real estate businesses are also speeding up the search for investment opportunities in Hoa Binh. In which, Sun Group is also developing and implementing at least 3 large-scale projects in Hoa Binh. Giants like Geleximco, T&T, Flamingo, Ecopark… are also not missing the “time” when continuously finding investment opportunities in this market.
Evaluating the prospect of Hoa Binh real estate, experts believe that Hoa Binh real estate prices will grow in 2024 due to many potentials to attract investments in provinces and cities nationwide. The Hoa Binh real estate market is evaluated by many experts as a “trough” and will have a strong revival when the western city gradually takes shape.
