“Quy Nhon: The Emerging Real Estate Epicenter of Central Vietnam”

Quy Nhon’s Surging Growth: Unlocking New Opportunities Post-Merger with Binh Dinh and Gia Lai

The proposed merger of Binh Dinh and Gia Lai provinces, as outlined by the Ministry of Home Affairs, is set to create a dynamic new economic region. Binh Dinh, with its population of over 1.5 million, boasts a GRDP per capita of 71.1 million VND annually and is renowned for its coastal attractions, seaport, and logistics strengths. Meanwhile, Gia Lai is home to nearly 1.6 million people, with a GRDP per capita of 51.9 million VND, abundant natural resources, and agricultural and forestry potential.

The merged province, tentatively named Gia Lai, will cover an area of 21,576 square kilometers (second largest in Vietnam) and is estimated to have a population of 3.54 million. With 135 administrative units, including 110 communes and 25 wards, the province will have a projected GRDP of approximately 241,010 billion VND, solidifying its position as a significant administrative and economic hub in the Central and Central Highlands regions.

Notably, the planned administrative center in the Nhon Hoi Economic Zone (Quy Nhon) will catalyze the transformation of this coastal city into a thriving administrative and economic epicenter. This shift will spur investment inflows, skyrocketing demand for housing, commercial spaces, and services, thereby creating substantial growth potential for the real estate market.

The merged territories of Gia Lai and Binh Dinh.

The merger proposal has garnered overwhelming support from the people of Binh Dinh, with over 98% of family representative voters in favor. This strong consensus lays a solid foundation for implementing urban development strategies and restructuring the regional economic landscape.

Quy Nhon: A Strategic Logistics Hub with Enhanced Connectivity

Strategically located between the Central Coast and the Central Highlands, Quy Nhon is emerging as a premier logistics hub in the region. The Quy Nhon Port, with a capacity of over 12 million tons per year, serves the Central Highlands and Southern Laos, accommodating vessels up to 50,000 DWT. Additionally, the expansion of Phu Cat Airport, including the construction of a second runway, will boost its capacity to 5 million passengers annually.

Complementing these developments is a range of pivotal infrastructure projects, such as the Quy Nhon-Pleiku Expressway (160 km, with an investment of over VND 43,700 billion), the new National Highway 19, National Highway 19B, and the second Thi Nai Bridge. These transportation corridors will not only reduce travel time between the coast and the highlands but also boost the value of real estate along these inter-regional connections.

Illustrative plan of the Quy Nhon – Pleiku Expressway.

Furthermore, satellite economic zones surrounding Quy Nhon, such as Nhon Hoi, Becamex – VSIP Binh Dinh, and emerging riverside urban areas, are fostering sustainable development and laying the groundwork for robust urbanization in the coming decade.

Quy Nhon’s Real Estate Market: Poised for Growth

As the sole coastal city in the newly merged province, Quy Nhon possesses the attributes to emerge as the region’s economic, administrative, and tourist hub. The relocation of the administrative center to Nhon Hoi is akin to the catalyst that propelled Da Nang’s real estate market during the 2005-2015 period.

Currently, land prices in Quy Nhon remain 50-70% lower than in Nha Trang and Da Nang, but the potential for appreciation is significant. This is supported by factors such as FDI inflows into the industrial sector, rising housing demands driven by urbanization, and the region’s growing tourism appeal.

Investors, both local and from other provinces, are particularly keen on land plots, houses, and shophouses in areas along National Highway 19, close to the Nhon Hoi Economic Zone, or within a 10-15 minute radius of Quy Nhon’s city center. Well-planned projects with clear legal frameworks, completed infrastructure, and thoughtful master plans are the preferred choices as the market regains its momentum.

Quy Nhon Iconic: A Landmark Project at the Heart of the New Administrative and Economic Center

Strategically located on the new National Highway 19, the lifeline connecting Phu Cat Airport, Quy Nhon, and the Central Highlands, Quy Nhon Iconic is just a 10-minute drive from the city center. The project is in close proximity to the new administrative center, Quy Nhon International Seaport, and renowned tourist destinations such as Ky Co Beach and Eo Gio. Surrounded by public amenities like markets, schools, and tourist attractions, the project offers a convenient and vibrant lifestyle.

Masterplan of Quy Nhon Iconic

Quy Nhon Iconic is meticulously designed to become a model urban area, prioritizing green spaces and modern amenities. Residents will enjoy a 2-kilometer riverside park, an Olympic-size swimming pool, schools, a commercial center, and more, ensuring a fulfilling lifestyle and entertainment options.

Recently, a new subdivision within the project has been introduced, featuring a prime location near a bustling market, adjacent to schools, bordering the Ha Thanh River, and conveniently situated along National Highway 19. This subdivision offers diverse products at competitive prices, flexible payment terms, and a commitment to immediate land ownership certificates, presenting an attractive opportunity for investors and homebuyers alike.

With its strategic position at the heart of the region’s emerging infrastructure, administrative, and urban development, Quy Nhon Iconic is not only an ideal place to reside but also a sustainable investment prospect for the future.