Northern Market’s Rising Star
In the first three quarters of 2024, Hai Phong emerged as a shining star in Northern Vietnam’s real estate market, with many growth indicators surpassing expectations.
For low-rise projects, the recovery process has not been uniform. Some projects are still awaiting legal issues to be resolved before construction can commence or resume, offering new inventory. Even with the Land Law, Housing Law, and Business Law taking effect on August 1, 2024, it will take some time for the new policies to have a noticeable impact. In this context, Vinhomes Royal Island, launched in mid-March 2024, has become the market’s pillar in Hai Phong.
Spanning 877 hectares, Vinhomes Royal Island offers a diverse range of low-rise property types that are scarce in the market, providing an abundant supply for homebuyers and investors alike. This advantage immediately triggered an unprecedented influx of investors to Vu Yen.
Two months after its official launch, nearly 20,000 visitors registered for a direct project tour; 325,000 visited the Vinhomes Market website for online information, and 2,000 transactions were made.
The record-breaking continued as of September 14, with over 500 commercial and shophouse units in the Tai Loc subdivision meeting their milestones and being handed over to customers.
“Vinhomes Royal Island boasts a prime location, surrounded by three rivers. It also offers world-class amenities such as a 36-hectare golf course, the Vinpearl Horse Academy in Vu Yen, one of Vietnam’s longest walking streets, and various other entertainment options. The presence of a hospital and schools adds to the appeal. It only takes me 5-10 minutes to get to the city center. So, I am completely assured and proud to be a resident here,” shared a resident upon receiving their home.
Several other subdivisions on Vu Yen Island are being fast-tracked for completion in the second half of the year.
Meanwhile, Mr. Minh, an investor from Hanoi, who also recently received his home, expressed confidence that with the current rapid construction progress, a vibrant urban area will quickly form with a bustling community of residents moving in to live and do business. As a result, Vinhomes Royal Island will continue to drive the market’s breakthrough in the latter half of the year. According to experts, capital is flowing towards areas with ready-to-move-in products, along with considerations of the developer’s reputation and the project’s legal clarity…
“The closing rate during this year’s year-end transaction season is expected to increase by about 30%, and investors will continue to seek out ready-to-move-in inventory. This trend is further bolstered by the fact that not only Tai Loc but also other subdivisions like Dao Vua, Hoang Gia, Miyabi, and Quy Toc are being fast-tracked, offering customers a wider range of options,” said Ms. Hoang Lan, a real estate broker.
Awe-inspiring Achievement in Amenity Development
Developed by Vinhomes, the Royal Island City boasts multiple advantages that few projects can match. It offers a range of world-class amenities, completed before the subdivisions, ensuring that residents can enjoy unique experiences from the get-go.
Many amenities are already in place, elevating the standard of living for Vinhomes Royal Island residents.
Firstly, just two and a half months after the project’s launch, the Vu Yen Walking Street and Park were officially inaugurated, becoming a hub for vibrant cultural and festival events. Hundreds of stalls have gathered here, not only providing diverse products and services for residents but also creating an attractive tourist destination in Hai Phong. During the recent National Day holiday, this location attracted over 300,000 visitors.
In June 2024, the Vinpearl Horse Academy in Vu Yen – The Royal Riding Academy – was officially introduced. Before that, Vinpearl Golf Hai Phong had already become a gathering place for entrepreneurs and businessmen to indulge in their passion for this aristocratic sport before moving in.
Vinhomes Royal Island offers a glimpse into a wholly unique upper-class lifestyle.
In October, a premium 10-hectare marina will be initially completed. Once operational, it will be able to accommodate approximately 300 yachts, along with luxurious technical and auxiliary areas.
Simultaneously, the “VinWonders entertainment universe” is being fast-tracked for completion in December 2024. Subsequently, various other world-class amenities will be finished in 2025, including the Vincom Mega Mall shopping center, the Vinmec International Polyclinic, and the Vinschool educational complex…
Nearly a decade ago, Vingroup first appeared in Hai Phong with the Vinhomes Imperia project – a complex and luxurious urban area that transformed the city’s western region. This project also set a record for price increases in Hai Phong, reaching VND 140.6 million/m² in March, a 178.4% increase compared to the initial sale price in 2018.
With a collection of world-class upscale amenities, Vinhomes Royal Island not only extends this record-breaking streak but also elevates Hai Phong’s living spaces to international standards, thereby enhancing the prestige of Vietnam’s real estate market.
“Vingroup Signs MoU with Warner Music Group and Indochina Productions”
On September 25, 2024, Vingroup (HOSE: VIC) inked a memorandum of understanding with two powerhouses in the global music and film industries, Warner Music Group and Indochina Productions. This collaboration not only brings world-renowned music stars to Vietnam but also serves as a launchpad for the country’s tourism and cultural image to reach a global audience of hundreds of millions.
“Social Housing Standards Proposal by Pham Nhat Vuong: Catering to the ‘Not-Yet-Rich’ and Not Just the Poor”
“There is a possibility that the impoverished may one day be able to afford cars and motorbikes,” said Vingroup Chairman Pham Nhat Vuong. He also suggested allocating a portion of social housing land to the armed forces, ensuring natural welfare.
The Private Enterprise’s Mission for the “Era of National Aspiration”
Large private enterprises need to take the initiative and be pioneers in significant, challenging, and novel endeavors. They should strive to solve complex problems at the national level to catalyze economic development and propel the country forward.
“Billionaire Pham Nhat Vuong Proposes Government Support for Small Businesses in the Auxiliary Industry, VinFast Commits to Partial Component Offtake”
VinFast is set to produce 200,000 vehicles in the coming year, surpassing the threshold for profitability, according to its owner, Vietnam’s richest man, Pham Nhat Vuong. With this ambitious target, VinFast is offering a unique opportunity for the country’s supporting industries to thrive and develop. Vuong pledges that VinFast will guarantee the consumption of a portion of these locally-sourced components, a bold move that could transform Vietnam’s automotive industry and its supporting sectors.
“Vinhomes Cổ Loa: A Profitable Venture for Vinhomes”
The SSI Securities Corporation has released an update on the business operations of Vinhomes Joint Stock Company. In this report, SSI highlights the potential selling price range for the Vinhomes Co Loa project, estimated to be between $10,000 and $15,000 per square meter.
