The consortium led by Vingroup is expected to start construction of the Northwest Bac Ninh New Urban Area (zone 1) on August 19. The project is expected to create an important highlight in the urban development picture of the northern industrial "capital".
The urban area is located in Kinh Bac ward, Bac Ninh province, with a scale of about 277ha, one side bordering the Cau river, with most of the area currently being residential land, agricultural land, and ponds/lakes. The project is planned for a 50-year operation period, expected to be implemented in 7 years and put into operation from 2032.
The detailed plan shows that approximately 60ha will be allocated for housing construction, including nearly 3,500 villas, 4-story townhouses, and apartment buildings up to 35 stories high. The project also allocates 9.5ha for social housing, alongside a system of office buildings, services, parks, inter-level schools, healthcare, and sports facilities... The total investment capital is estimated at over 41,270 billion VND (equivalent to 1.58 billion USD), of which compensation and site clearance costs exceed 1,100 billion VND.
Not only Vingroup, but Bac Ninh, after merging with Bac Giang to become an industrial "super-province," is currently a destination for a series of major real estate corporations. In February, T&T Group, led by Mr. Do Quang Hien, proposed three projects with a scale of over 1,000ha in the province, including urban areas, commercial services, and synchronized social infrastructure.
In addition, Sun Group has also worked with provincial leaders to study investments in tourism-resort projects and riverside urban areas; Phu My Hung is seeking land funds to develop modern urban areas aimed at the community of experts and managers working in industrial parks.
The continuous appearance of real estate "giants" shows that Bac Ninh is reshaping its urban development map, not only as an industrial production hub but also aiming to become a new growth pole for commerce, services, and high-quality housing in the Northern Key Economic Region. With transport infrastructure directly connecting Hanoi – Hai Phong – Quang Ninh, large land funds, and strong investment attraction policies, experts predict that Bac Ninh will witness a boom in the urban real estate segment, parallel to the growth momentum of industrial real estate in the coming years.
Source: Nguoi Quan Sat Electronic Newspaper
