Investors 'hunting for the promised land' are ready to catch the 'wave' in the new cycle

Vinh City Real Estate Faces New Acceleration Opportunity

Vinh is a class I city under Nghe An province, the economic and political center of the province. Not only that, Vinh also has an advantage when the Prime Minister approved the Project to develop Vinh city, Nghe An into an economic and cultural center of the North Central region by 2023 (Decision No. 827/QD-TTg dated June 12, 2020). To implement the decision, Vinh City has been making all-out efforts to develop all areas such as finance, credit, banking, insurance, trade, tourism, science, technology, infrastructure, real estate, etc.

‏Previously, on December 1, 2024, Resolution No. 1243/NQ-UBTVQH15 of the National Assembly Standing Committee on the arrangement of district and commune-level administrative units of Nghe An province for the period 2023 - 2025 took effect.

Specifically, the entire natural area and population of Cua Lo town and the entire natural area and population of 4 communes: Nghi Xuan, Phuc Tho, Nghi Thai, Nghi Phong (Nghi Loc) will be merged into Vinh city. After the arrangement, Vinh city has a natural area of ​​166.22 km2.²and officially became a coastal city. The population size exceeded half a million people (580,669 people), creating room for real estate to become more vibrant.

‏In terms of economy, tourism and investment, Vinh City has always maintained its role as the economic growth engine of Nghe An. The economic growth rate is estimated at 9.22%. Budget revenue exceeded the province's estimate and increased compared to the same period, and it is the best debt collection unit in the province: estimated at 6,055.2 billion VND, reaching 236% of the province's estimate, 108.6% of the city's plan, 154.5% compared to the same period.

‏As a "transit point" of Nghe An province, Vinh City welcomes an average of 1.9 million tourists each year. In 2022, the appearance of the walking street and the orientation of linking Cua Lo - Vinh - Nam Dan tourism tours of the Department of Tourism have gradually aroused the tourism potential of Vinh City, helping the city become a stopover on the journey of domestic and international tourist groups; contributing significantly to the economic growth rate.

‏295 km from Hanoi Capital, 16 km from Cua Lo town, located on the important North-South axis, Vinh City possesses a favorable "diamond" location, with a complete infrastructure system developed in all types, from roads, railways, waterways, and airways. ‏

‏Among them, the most prominent are the first-class railway station, Vinh international airport, Cua Lo port with 4 large ports ensuring the role of international cargo transportation. By 2030, experts assess that Nghe An has the capacity to receive large-capacity international cruise ships with an outstanding number of international tourists, turning Vinh city into a center for accommodation and distribution of tourists in the region along with other urban areas such as Da Nang, Quang Ninh and Khanh Hoa.

"The magnet" attracting investors

Possessing many breakthrough potentials and development advantages, Vinh City is gradually replacing large, saturated markets to become one of the most sought-after markets, attracting a large number of "sharks" to participate in the market and helping to quickly increase real estate value.

‏A survey shows that real estate prices in some cities in the North Central region such as Thanh Hoa, Quang Binh, Hue, etc. have increased 2.3 times in just the past 5 years, making investors wary of the risk of "virtual fever". Meanwhile, the real estate market in Vinh City is possessing a more ideal price. However, experts predict that this price will not last long because many real estate "giants" are entering the market.

Specifically, in recent years, Vinh City has signed many investment memorandums of understanding with a series of real estate "giants" such as: Vingroup Corporation with Vincom Shophouse Vinh Project; T&T Group with Ben Thuy Commercial, Tourism and Urban Complex Project; Euro Window Holding; LOTTE Vietnam with Commercial Center Project; TDH Ecoland (member of Ecopark Group) with Ecopark Urban Area Project, BRG Group with Pearl Residence project...

At the same time, the city has carried out investment procedures and implemented the project "Priority infrastructure and urban development adapting to climate change in Vinh city, Nghe An province" from WB loans approved by the National Assembly Standing Committee. Attracting 5 major projects with a total registered capital of 6,924.5 billion VND.

‏Experts assess that real estate in Vinh City will become much more valuable in the near future. This is not only an opportunity for local customers with financial potential and a desire to move towards a classy life, but also an opportunity for investors who want to reach out to new cities.