From the “Emerging” Market Prospects of Bac Giang
Bac Giang is emerging as a land of opportunity, attracting significant FDI and experiencing rapid population and industrial growth. With a vision to become an industrialized province by 2030, Bac Giang is currently planning 29 industrial parks and 63 industrial clusters, along with future developments, attracting a large number of domestic and foreign experts, high-level managers, and workers.
Following the FDI wave, Bac Giang’s industrial parks are continuously expanding, hiring hundreds of thousands of workers, including many domestic and foreign executives, managers, experts, and highly skilled technicians. This group of tenants is looking for long-term rentals and is willing to pay between $800 and $1,500 per month for fully-equipped luxury apartments.
Bac Giang’s apartment market is becoming increasingly attractive and is gaining significant attention. (Source: Bac Giang Provincial Portal)
Meanwhile, there are only a handful of apartment projects in Bac Giang City, and the number of buildings with high-quality construction and synchronized utilities is still limited. Therefore, there is a large room for growth in the expert apartment segment in Bac Giang, which is expected to boom within the next 3-5 years. By 2030, the province aims to have more than 1,200,000 workers and nearly 30,000 foreign employees, triple the current number. In addition, the developing urban landscape and modern, dynamic residents are increasingly opting for high-rise apartment living, further driving the demand for apartments in Bac Giang City.
In this context, the Lotus 2 luxury apartment building, part of the Lotus Star Bac Giang complex (CT1A building of the Commercial Apartment Project in the residential area adjacent to Xuong Giang Street, Bac Giang City), stands out with its unique strengths in location, legal status, construction progress, and potential for price appreciation. As a product in the high-end segment, Lotus 2 is expected to offer rental yields of up to 12-13% per year, along with significant potential for capital growth.
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Strategically located at the Xuong Giang Bridge, Tho Xuong Ward, Bac Giang City, Lotus 2 is part of the Lotus Star Bac Giang complex, which boasts a well-planned and modern transportation system, making it easy for residents to access key areas such as the general hospital, bus station, stadium, square, and the Hanoi-Bac Giang highway.
Lotus 2 boasts a prime location with three sides facing major roads. (Source: TTB Group)
Lotus 2, a luxury apartment building, is positioned by its developer, TTB Group, as one of the most important projects, playing a pivotal role in shaping the urban landscape of Bac Giang, the “industrial capital.” The project showcases a meticulous approach to design, landscaping, amenities, and architecture. Specifically, the project embraces a modern, minimalist Singapore-inspired design, optimizing functionality from the building to the individual apartments. Embracing the trend of green and sustainable living, the developer has allocated 65% of the land area for green spaces and water features, including a sculpture garden, hanging gardens, quiet gardens, and a grass hill.
Moreover, the Singapore architectural style is seamlessly incorporated into the apartment’s design through open spaces, large glass doors, and loggias, offering expansive views. The standout feature is the spacious 14sqm balcony in the Lotus 2 apartments, providing homeowners with the flexibility to create unique “green spaces.” In terms of area and functionality, the project offers optimized layouts ranging from 54.4 to 89.3sqm, catering to diverse customer needs with options of 2 bedrooms – 2 bathrooms or 2 bedrooms + 1 – 2 bathrooms.
Model apartment at Lotus 2. (Source: Dat Xanh Mien Bac)
Lotus 2 apartments tick all the boxes for an ideal living environment while offering competitive pricing and attractive incentives from the developer. This makes Lotus 2 an excellent investment opportunity in the real estate market, promising exceptional rental yields. The supply of experts and managers working in the industrial parks is abundant, with strong purchasing power, and their numbers are expected to grow significantly in the near future. Looking at Bac Ninh, a neighboring province that has experienced robust development and exploitation in recent years, it is evident that the rental market in industrial provinces near the capital can offer twice or even three times higher returns than Hanoi, as rental prices are similar, while apartment prices are only half.
Notably, the project is being fast-tracked by the developer, with completion and handover expected in January 2025. The best units in this apartment complex are now available for sale, poised to become the market leader in Bac Giang City’s real estate market and the high-end apartment segment in the northern industrial provinces in the second half of 2024.
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