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Legal Completion since 2022
Ngãi Thắng Residential Area (trade name The Gió Riverside) is one of the key projects to be developed this year by An Gia Real Estate Group (HOSE: AGG). The project is located in Binh Thang Ward, Di An City (Binh Duong) with a scale of approximately 3,000 apartments, targeting real buyers in Ho Chi Minh City, Binh Duong, and Dong Nai.
Perspective of The Gió Riverside project
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The project has been approved for detailed planning 1/500 by the competent state agency and the land allocation decision, allowing the conversion of land use purposes since the first half of 2022 and is continuing to be completed legally before implementation, ensuring the principle of safe investment.
The Di An City People’s Committee assessed that the project is a highlight location of the city in general and Binh Thang Ward in particular, suitable for Di An’s upgrade to a Type II city under Binh Duong Province.
According to the plan, Ngãi Thắng Residential Area has 2 apartment building blocks with 40 floors and 3 basements with about 3,000 products, a construction density of only 30.73%. The residential area also has full infrastructure and utilities such as a centralized green area, traffic roads, internal playgrounds, schools, etc., ensuring technical infrastructure and social infrastructure to improve investment efficiency.
The Binh Duong Provincial People’s Committee has also issued a land allocation decision, allowing the conversion of land use purposes with more than 27,139 m2 of land in Binh Thang Ward, Di An City to implement Ngãi Thắng Residential Area (commercial name The Gió Riverside). The area of more than 18,979 m2 is allocated and collected land use fees for use as urban residential land (high-rise apartment building land 8,340.5 m2; land for planting trees, land for traffic, internal playgrounds), the area of 8,160 m2 is leased land and collected fees once for use as land for building educational and training facilities.
Currently, the project is continuing to complete other legal issues to be ready for the launch plan this year.
Potential Project, Serving Real Housing Needs
Positioned as a complex on the banks of the Dong Saigon River, The Gió Riverside project has the advantage of a location at the junction of the Dong Nai and Ngoc rivers, adjacent to the Hanoi Highway axis and Metro Line 1 (Ben Thanh – Suoi Tien).
.jpg) The Gió Riverside is adjacent to the Hanoi Highway
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The project meets good connectivity thanks to the Hanoi Highway axis and main traffic routes such as National Highway 1A, Tan Van intersection, Ring Road 3, Metro Line 1, Eastern Bus Station, Suoi Tien – Bien Hoa Metro, etc. Surrounding the project are many surrounding utility projects such as Dong Nai Administrative Center, Thu Duc University Village, Dong Nai General Hospital, New Eastern Bus Station, Bien Hoa Industrial Zone, Amata Industrial Zone, Di An – Binh Duong Station, Co.op Mart Bien Hoa Supermarket, etc.
In addition to its advantageous location, The Gió Riverside project is expected to supply the market with a valuable supply, serving real housing needs in Ho Chi Minh City and neighboring areas such as Binh Duong, Dong Nai.
“The company remains committed to the mid-end real estate segment. This is a segment that always has a good absorption rate despite market fluctuations. An Gia’s point of view is not to follow the market, not to buy land or buy projects at all costs. The company will have a careful analysis of the land, so that when the product is launched on the market, the price is suitable for the majority of buyers. This explains why apartment projects such as Westgate, The Song, etc., always attract customers when launched on the market,” said a representative of An Gia.
An Gia focuses on developing affordable apartment projects. Photo: Westgate
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According to experts, the apartment market in Ho Chi Minh City and the surrounding areas is showing many positive signs. However, the supply in this segment still shows a disparity when the number of high-class apartments dominates the product basket while the number of affordable apartments does not meet the real housing needs of the people.
On the other hand, the supply-demand imbalance lies not only in quantity but also in price. Apartment prices are increasing too high, not meeting the real needs of customers, including real buyers and investors.
A representative of An Gia said that the upward trend in prices will continue to develop in the future. Not only because of limited land resources, rising project development costs, but also because of the increasing demand for apartments, especially in Ho Chi Minh City. Projects in the affordable segment in neighboring areas – where prices are more affordable and well connected to the city center – will continue to be the focus of investment, driving the market in the coming period.
