The Vibrant West: Ho Chi Minh City’s Investment Haven

West Area Real Estate: Unleashing its Breakthrough Potential

Real estate in the west of Ho Chi Minh City is attracting investment funds, stimulating the potential of neighboring areas. Among them, Ben Luc – Long An has become a hot spot for many major real estate investors. The urbanization strategy with a breakthrough vision and strong infrastructure investment are creating a driving force for investment attraction and boosting the Ben Luc real estate market.

According to the plan by 2030, Long An province is expected to expand the number of industrial parks from 20 to 51, with a total area of nearly 12,490 hectares. The addition of 28 new industrial clusters with a total area of 1,808 hectares will bring the total number of clusters in the province to 72, with a total area of nearly 4,000 hectares. Ben Luc is envisioned to become a satellite city of Ho Chi Minh City, attracting more investment resources, contributing to a strong transformation and a new face-lift for the area.

“The People’s Committee of Ben Luc district is finalizing the planning scheme and will upgrade the district into a city after 2025, in accordance with Decision No. 686/QD-TTg of the Prime Minister on the planning of Long An province,” said Mr. Le Thanh Ut, Chairman of Ben Luc People’s Committee.

Ben Luc’s infrastructure is also being invested in and developed synchronously, especially the inter-regional connecting roads, shortening the distance to Ho Chi Minh City and the Eastern provinces, creating a driving force for socio-economic development. The 60m wide Luong Hoa – Binh Chanh avenue has been started, expected to be completed by the end of 2025, reducing travel time from Ben Luc to Ho Chi Minh City to just 5 minutes.

The Ben Luc – Long Thanh expressway project, 58km in length, will officially open 21km from Ho Chi Minh City to Long An in the second quarter of 2025, reducing travel time from Long An to Ho Chi Minh City and the Southeast provinces, and promoting strong regional linkages. Many trillion-dollar roads such as DT830, 823D, QL 50B, and QL N1 have been upgraded and widened, creating a link for the West real estate market.

Ben Luc real estate also benefits from a range of utilities in healthcare, education, and trade to serve the needs of residents in the West of Ho Chi Minh City. These include schools of all levels, satellite hospitals such as Nhi Dong, Cho Ray 2, and the Ho Chi Minh City High-Tech Healthcare Center, as well as the Galaxy cinema cluster, AEON Mall, BigC supermarket, Coop mart, Circle K convenience store chain, parks, and more.

Moreover, with the advantage of large land funds, the West, in general, and Ben Luc, in particular, are attracting more attention from investors. Although the price gap has narrowed compared to other areas, this region remains the “cradle” of affordable real estate, suitable for the finances of the majority. While real estate prices in other areas have continuously hit new highs, the West has maintained a stable supply of apartments with prices ranging from VND 40-50 million/sqm for many years. Therefore, investors expect this area to have a potential price surge in the future.

An Attractive Investment Destination with Existing Values

Affordable pricing, a large population growth rate, strong economic development, well-connected infrastructure, and the concentration of many industrial parks have led to a high demand for housing. Many famous foreign corporations such as Suntory PepsiCo Vietnam, Coca Cola, Lotte, Mitsubishi, Yokorei, Aeon, Sojitz, and Kokubu Group have been implementing a series of projects in the fields of production, industry, and services in Long An. As these projects come into operation, the demand for housing for workers and experts is expected to increase.

Statistics show that up to 80% of people buy real estate in the West for actual living purposes. However, there is an opposite trend in the scarcity of supply in this area, even a record decrease in the first half of 2024. According to data from CBRE Vietnam, in the second quarter of 2024, the Ho Chi Minh City apartment market recorded nearly 1,200 new units for sale. Most of these are located in the East and South of the city, while the West continues to lack new supply. Given this situation, the market witnessed a surge in demand for existing projects, even during a “gloomy” period for the real estate sector.

Hence, projects launched in the West at this time have quickly become sought-after, such as Destino Centro by Seaholdings. Although it is one of the few projects launched in early 2024, Destino Centro is not the only name in Ben Luc. This area currently has many other urban area projects such as Eco Retreat, Hoang Kim Riverside, Lago Centro, and Long Phu Residence…

Like other projects in the western gateway, Destino Centro is benefiting from the development of Saigon’s satellite areas. Moreover, thanks to its advantages in location, scale, and the strategic vision of the investor, Destino Centro is not only a new potential project in the West but also an important “trigger” that can help unblock the flow of the real estate market after a long period of gloom.