North Ninh Emerges as the New Investment Hub for Northern Vietnam’s Real Estate Post-Merger

During the seminar, Prof. Dr. Trần Đình Thiên, a member of the Prime Minister’s Policy Advisory Council and former Director of the Vietnam Institute of Economics, assessed that the merger of Bac Ninh and Bac Giang provinces has created a “new Bac Ninh” with a completely distinct position and strong development potential.

“In 2024 alone, Bac Ninh’s GRDP reached 232.8 trillion VND, with a growth rate of 6.03%. The per capita GRDP in 2024 was 6,010 USD, 1.3 times higher than the national average. After the merger, Bac Ninh achieved ‘miraculous growth’ with all local economic development criteria significantly increasing. The province’s economic scale has risen to the 4th position nationwide, with a total area of 4,718 km²,” Prof. Dr. Trần Đình Thiên emphasized.

He also noted that in the new era, Bac Ninh possesses unique strategic advantages, shaping its long-term development. First is the Gia Binh International Airport, envisioned to become a leading regional airport. Second are the capital region’s ring road expressways, enhancing transportation connectivity. Third is the industrial ecosystem of major high-tech corporations with synchronized industrial zones.

“I believe Bac Ninh has two ‘dynamic’ advantages for breakthroughs: One is ‘regional dynamism’—strong connectivity with Hanoi and neighboring localities; Two is ‘elite dynamism’—connecting technology, industry, and urban development in line with global trends, elevating its development status.

However, alongside urban, real estate, and industrial development, Bac Ninh must pursue green growth, linked to trade and services,” Prof. Dr. Trần Đình Thiên affirmed.

Prof. Dr. Trần Đình Thiên.

Sharing the same view, Mr. Bùi Văn Doanh, Director of the Vietnam Real Estate Research Institute, also assessed that after the merger, Bac Giang and Bac Ninh, now named Bac Ninh province, have become one of the top 5 provinces with the largest economic scale in the country. Building on the existing foundations of the two former industrial provinces, Bac Ninh has become the super industrial hub of the North.

Mr. Doanh also emphasized: “To date, with the combined two former industrial centers, the new Bac Ninh province has 35 industrial zones, 2,800 FDI projects, attracting 44.5 billion USD. The workforce includes 498,000 people in the industrial sector, with 10,000 foreign experts. Notably, there are 12,180 hectares of industrial land, indicating continued strong growth potential in industry and labor attraction. The industrial labor growth rate is quite high, at 180,000–250,000 people/year, reflecting a significant current and future demand for housing.”

From another perspective, Dr. Thái Thị Quỳnh Như, former Director of the Land Management Research Institute, Ministry of Natural Resources and Environment, believes Bac Ninh will benefit from Hanoi’s population decentralization. “By 2030, Hanoi’s population may reach 20 million. How many will choose Bac Ninh as their home? Global experience shows people are willing to live outside the city center if commuting takes less than an hour. For business people, a favorable environment for trade and commerce is key,” Dr. Như stated.

From the perspective of a Bac Ninh real estate company, Mr. Trần Đình Dũng, Deputy General Director of Tam Thanh Land Real Estate Trading Floor JSC, affirmed that with the administrative boundary merger complete, the market is entering a phase of reshaping and selection. In the future, the industrial workforce will be substantial, driving significant demand for housing, services, and urban infrastructure.

However, Mr. Dũng noted that the current phase is different—it’s no longer a time for short-term investments but for medium to long-term investments that yield sustainable value. Therefore, projects with complete and transparent legal frameworks will stand out in the market.

Echoing this view, Mr. Nguyễn Tuấn Bình, Deputy General Director of Kinh Bac Real Estate Investment and Business JSC, shared that Tan Yen in Bac Ninh is at the “planning sweet spot,” with robust industrial infrastructure development and land prices still 30–40% lower than older industrial areas like Yen Dung or Viet Yen. Investing in Tan Yen’s real estate market now means catching the “planning wave,” not yet the “profit-taking” phase. Investors can expect stable price increases of 20–30% as infrastructure and population grow, along with benefits from high rental demand in expert housing and luxury accommodations.

Bac Ninh can and must become a new development model for the North, not just because of its geographical location or existing potential, but because it has all the necessary conditions to become a model growth pole for both the capital region and the entire North.