Real estate tycoons invest trillions of dong in Hung Yen.

The real estate market in Hung Yen is witnessing the participation of many large investors with large-scale projects. Most recently, The Trump Organization, a conglomerate owned by the family of US President Donald Trump, and Hung Yen Hospitality Company, a subsidiary of Kinh Bac Urban Development Corporation (KBC), commenced construction of the Khoai Chau urban, eco-tourism, and golf complex, covering approximately 990 hectares.

This project, located in seven communes of Khoai Chau district, has a total investment of 39,800 billion VND, equivalent to over 1.5 billion USD. This will be the first Trump-branded project in Vietnam, named Trump International Hung Yen.

Next week, Singaporean real estate giant CapitaLand will also begin construction on its first low-rise housing project in Hung Yen, located within the Vinhomes Ocean Park 3 urban area. CapitaLand's project covers 25 hectares and has an investment of over $800 million.

In phase 1, the developer is developing a 12-hectare area with 342 units and is expected to hand them over in 2026. Phase 2, comprising approximately 350 units on a 13-hectare site, will be completed in 2027.

More than two months ago, urban development projects with total capital of tens of trillions of VND also continuously appeared in Van Giang district, the northern gateway of Hung Yen province. Among them, the Alluvia City ecological garden urban area, started by Xuan Cau Holdings in March, covers nearly 200 hectares. This project has a total investment of over 31,000 billion VND and includes a range of products such as townhouses, shophouses, villas, along with hot spring, ecological, and commercial zones.

Hung Yen's appeal is further enhanced by the strong industrial development in districts such as Van Lam, My Hao, Yen My, and Phu Cu. Industrial zones in this area are considered to be on par with those in neighboring provinces like Bac Ninh, Bac Giang, and Hai Phong.

By the end of 2024, according to Savills, Hung Yen had 17 industrial parks with a total area of ​​over 4,300 hectares, of which 11 were already operational.

These industrial zones have attracted a number of large enterprises such as Mektec, Hoya Glassdisk, and Canon. The industrial production index in this province has increased by 11%.

The largest investors in this locality are Japan (accounting for 51%), followed by South Korea (12%). The growth of industrial parks is expected to lead to a strong wave of migration to Hung Yen, especially of workers from the northern mountainous provinces.

The population of Hung Yen province, including Van Giang district, has also grown in recent years thanks to people moving from Hanoi to live in major urban areas.

This trend may continue thanks to the administrative and political center also being located in Hung Yen after the merger of this province with Thai Binh.

According to the real estate listing platform Batdongsan, Hung Yen was the second most sought-after locality nationwide last year. With the influx of large-scale projects and its potential for economic development, Hung Yen is positioning itself as a promising real estate market.