Sweet Success from a Commitment to Innovation
Thai Binh province set out to accelerate the structural shift from agriculture to industry from 2015–2020. However, it wasn’t until 2021, with the provincial planning for 2021–2030, that a clear determination to drive economic growth through industrial and urban development, alongside services, agriculture, and socio-cultural sectors, began to markedly transform the local economy and urban landscape.
The province’s robust economic growth has spurred the real estate market, with central Thai Binh City witnessing the emergence of commercial centers and new urban areas such as Eco City Vu Phuc, Thai Binh Diamond City, and Le Quy Don Urban Area. Despite this progress, local real estate is still considered provincial, lacking breakthrough projects with large-scale, integrated amenities.
Building on this economic momentum and committed to the provincial master plan for 2021–2030, with a vision towards 2050, Thai Binh has been investing in technical infrastructure, social infrastructure, and urban development to achieve harmonious growth.
A key focus has been on road infrastructure, centered on three main connectivity axes: the Hanoi Ring Road 5 (CT.39) and CT.16, linking to the Northwest economic region of Hanoi; the Ninh Binh-Hai Phong Expressway (CT.08), connecting to the Northern Gulf of Tonkin economic region and the Northern Coastal region through Thai Binh’s coastal road.
With its broadened vision, Thai Binh has become a strategic landing pad for industrial “eagles.” FDI inflows to the province in 2023 were unprecedented. From 1987 to 2020, total FDI reached nearly $800 million, but from 2021 onwards, it surged to $4.1 billion, with nearly $3 billion in 2023 alone—almost 4.4 times higher than in 2022.
Preparing the nest for these eagles, the province is attracting investors to develop social infrastructure to create an attractive living environment for workers and experts, thereby fueling the real estate market with large-scale, integrated projects.
As a result, projects are expanding beyond the city center, seeking spacious land areas for well-planned, modern developments that cater to the sophisticated demands of residents. The local government’s long-term vision and commitment to transformation are presenting investors with a host of promising opportunities.
Foreseeing the Master Plan: A Bright Investment Prospect
The southern part of Thai Binh City is shining as an expansion hub, benefiting from well-developed infrastructure and convenient ring road connections to neighboring commercial areas. Along Le Quy Don Street—the backbone of the new city center’s development—a vibrant community is taking shape, with infrastructure already in place, including the vast Ky Ba Park, the administrative center, a network of 15 specialized hospitals, and a diverse educational system.
The future introduction of nearly ten projects surrounding the Le Quy Don intersection and ring roads in the south will further establish this area as a hub for population growth and a magnet for workers and experts.
With a well-conceived vision for infrastructure and urban development, the south of Thai Binh City is poised to become a new, vibrant urban center, characterized by harmony, modernity, intelligence, and a unique identity that aligns with the city’s overall development strategy.
Southern Expansion of Thai Binh City: A Dynamic New Hub
Glory Downtown Thai Binh, a prominent commercial urban project, is strategically located in the heart of this emerging southern hub. With a focus on modern living, its 128 shophouses offer a seamless blend of business and commercial spaces, complemented by a bustling seven-story commercial center and lush gardens. Situated on Le Quy Don Street, a vital artery to the city center, Glory Downtown boasts convenient transportation links to key commercial routes, including the southern ring road to Cau Nghin, the Thai Ha overpass to the Cau Gie expressway, and the northern coastal expressway.
Building on the area’s potential, Glory Downtown (a tourism, trade, and commercial housing project in Tran Lam Ward, Thai Binh City) aspires to foster a prosperous community and become the focal point of the new southern center of Thai Binh City.
Astonishingly high price for old and dilapidated apartment buildings reaching nearly 200 million VND/m2, rivaling the most luxurious condominiums in Hanoi
Old collective apartments with prices starting from 100 million VND/m2 are usually the first-floor units that can be used for commercial purposes, while the upper-floor units are priced at 60-80 million VND/m2 for residential purposes.
The Power of Lizen: Consistently Winning Massive Bids
Lizen has achieved a significant milestone by successfully deploying and implementing major high-speed construction projects in 2023. The company’s revenue has reached 2,030.5 billion VND, which is twice the amount compared to 2022. However, the post-tax profit has reached its lowest point in the past 6 years, dropping down to only 118.3 billion VND.
In 2023, GELEX earns nearly 1,400 billion VND
In the face of macroeconomic pressures over the past year, GELEX Corporation has implemented flexible strategies to maintain stability and strive for sustainable growth.
