The opening time of Le Mao Street has been extended, but land prices have increased again.
(Baonghean.vn) - Nghe An province has just submitted to the Government for approval the pre-feasibility report for the Le Mao Road Extension Project Phase 2 in 2022. In particular, the 400m section that has been delayed for the past 10 years in Phase 1 will be implemented by the end of 2021. These signals mark a major turning point in urban development and investment attraction in the South of Vinh City.
Strategic route to stimulate socio-economic development
On May 8, speaking with Giao Thong Newspaper reporter, Mr. Nguyen Ngoc Phong - Deputy Head of Vinh City Investment and Construction Management Board, said: It is expected that in the coming days, the Government Office will issue a document assigning the Ministry of Planning and Investment to appraise the pre-feasibility report for the Project "Priority infrastructure and urban development adapting to climate change in Vinh City, Nghe An Province" submitted on April 23, 2021 by the People's Committee of Nghe An Province.
Previously, the People's Council of Nghe An province approved the pre-feasibility report on April 15, 2021. The project has a total estimated investment of VND 4,514 billion, equivalent to USD 195 million. The project is divided into 4 components, of which 2 notable components are the renovation of Vinh River and the construction of Le Mao Street extending through Vinh Heritage Urban Area connecting to the National Highway 1 bypass.
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| The completion of the extended Le Mao route increases real estate value. Perspective image of Vinh Heritage project. |
In the meetings between the Provincial People's Committee, functional departments and Vinh City, the leaders of Nghe An Province also affirmed: Le Mao Street extension will be one of the "arrows" to expand Vinh urban space, a "strategic" route to stimulate socio-economic development in the southern region of Vinh City.
“If nothing changes, by the end of 2022, the Le Mao extended road construction project - Phase 2 (WB capital) including: building a bridge over Vinh river (Cua Tien river), a bridge over Rao Mang river and Le Mao road, with a length of 1.1km will be put out for public bidding to select a contractor. If the site clearance is favorable, the road will be ready after only 24 months…”, Mr. Phong added.
In parallel with the progress of phase 2, the People's Committee of Nghe An province is also assigning departments, branches and sectors to complete the procedures to cut the Le Mao extended road construction project phase 1 (the section from the old railway - Handico urban area gate to the Vinh riverside tourist road, adjacent to Vinh Heritage urban area) to convert to public investment, implemented by the province. The procedures have also been basically completed, it is expected to be able to be implemented by the end of this year, it is expected that after 12 months of construction, the road will be completed," said Mr. Phong.
Choose the golden time to avoid land fever
With official and complete information about the Le Mao extended road project, the real estate market on both sides of this road is "heating up" every day.
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| Shophouse products along major roads have prime business value. Perspective image of Vinh Heritage project |
Mr. Nguyen Van Manh, a resident on the extended Le Mao road, said: In early 2021, land prices in this area fluctuated from 20-22 million VND/m2.2. Now it has increased to 27 million VND/m2, that price is considered the highest ever. Now that the Le Mao extended road is about to open, who knows how much the price will "dance" anymore. Similarly, land prices in the area along the Le Mao extended road in other projects such as Vinh Heritage, Tecco Vinh Tan, Trang An... are also increasing day by day.
However, in reality, the land in the area, as well as in previous urban projects, has long been bought up by real estate buyers. In this fever, the Vinh Heritage Eco-Urban Area project has the most potential. The project has a scale of 40.47 hectares, implemented by 2 investors, the Joint Venture of Military Petrochemical Joint Stock Company (Mipec) & Trang An Investment and Construction Joint Stock Company. This project is located in a "prime" location, adjacent to 3 major roads: 2 roads of 21m and 30m (in the planning preparation for construction), directly connected to the existing internal roads Ruby 1 and Hoang Yen 6 and especially the extended Le Mao road (the aspirational road to the South of Vinh City) connecting Vinh City Center to National Highway 1A.
Ms. Ho Anh Thu - Sales Director of Vinh Heritage project said: “In order to be one step ahead, the unit has been and is currently building the internal road of Hoang Yen 6 connecting with the future 21m road to welcome the planning, ensuring that when receiving the house, customers can do business immediately. Especially here, the shophouse row of Hoang Yen subdivision under the Urban Area is being developed according to the model of famous European commercial neighborhoods. The synchronous planning of the shophouse type into a core commercial service axis, next to the commercial center, inter-level school and close to 3 major roads: 21m road, 30m road and Le Mao, is a perfect idea and solution to increase the value of the commercial townhouse type. Therefore, currently the Shophouse 107 product in this area is receiving a lot of attention and inquiries from customers, even though we have not officially opened for sale yet!”
Vinh Heritage: Hoang Yen subdivision - "The capital city by the river".
Address: Le Mao extended street, Vinh city, Nghe An province.
Hotline: 1800 6350
Project development consulting unit:
VLand Vietnam Real Estate Investment and Trading Joint Stock Company.
Official distributor:
Au Lac Land 0964.265.568;
Homes Real Estate 1900.4522;
Tan Long Land 0916.995.678;
S-Real 0968.641.379;
VHG Land 0912.330.038.
