Which 'lowlands' can investors catch the wave of the North Central market?

Planning to become a regional center

Vinh is a class I urban area 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 January 14, 2015, the Prime Minister also approved in Decision No. 52/QD-TTg the expansion of Vinh City's urban space according to the planning, including: the entire Vinh City; the entire Cua Lo town, a part of Hung Nguyen and Nghi Loc districts, increasing the total area of ​​Vinh City to about 250km2, creating room for more vibrant real estate.

Vinh City is currently the most potential and vibrant real estate market in the North Central region.

Locomotive of economic growth

In terms of economy, tourism and investment, Vinh City has always maintained its role as the economic growth locomotive of Nghe An with an average growth rate estimated at 8.62% in the period 2016 - 2022. The service industry's production value in 2020 is estimated at 25,900 billion VND, gradually becoming a hub for gathering and consuming goods and services of the province and the whole region.North Central CoastDuring the 2016 - 2020 term, 52 projects were granted investment certificates, with a total capital of more than 7,900 billion VND, enhancing the city's position.

As a "transit point" of Nghe An province, Vinh City welcomes an average of 1.9 million tourists each year, with a growth rate of about 7.1% in the period 2016 - 2020. 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.

Walking street becomes a new "bright spot" in Vinh city tourism. Photo: Document

"Leverage" from transport infrastructure

295 km from Hanoi capital, 16 km from Cua Lo town, located on the important North-South axis, Vinh City possesses a favorable "diamond" position, with a complete infrastructure system developed in all types, from roads, railways, waterways, and airways. Typical examples include a series of important projects such as the Vinh Airport project being expanded to an international airport, a Class I railway station, and the planning of Cua Lo Port with 4 large ports ensuring the role of transporting goods to the North Central provinces, Laos, and Northeast Thailand. By 2030, experts assess that Nghe An will be able 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.

In addition, the planning orientation of the backbone routes in the economic corridor of the province has been creating an impression on the urban landscape and infrastructure, becoming a solid foundation for the real estate market such as Vinh - Cua Lo Boulevard with a length of 11.2km connecting Vinh City and Cua Lo Town; Cua Hoi Bridge connecting Nghe An - Ha Tinh; expansion of National Highway 46 passing through Vinh International Airport and many projects of Bac Vinh Industrial Park; Vinh Airport - Muong Thanh Phuong Dong Hotel route...

Vinh – Cua Lo Boulevard is a key infrastructure project in the development strategy of Vinh City.

The center of bustling real estate investment

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.

Surveys show that real estate prices in some cities in the North Central region such as Thanh Hoa, Sam Son, Hue... have increased 3.4 times in just the past 3 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.

Vinh City real estate will continue to develop rapidly with a series of "huge" projects about to be launched on 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 the Vincom Shophouse Vinh Project; FLC Group with the Urban Area Project in Hung Hoa Commune and FLC Resort in Nghi Loc District; T&T Group with the Ben Thuy Commercial, Tourism and Urban Complex Project; Euro Window Holding; LOTTE Vietnam with the Commercial Center Project; TDH Ecoland (a member of Ecopark Group) with the Ecopark Urban Area Project...

Thanks to the "effect" of the big guys, Vinh City real estate is currently witnessing a constant "land fever". Currently, project land in central wards, especially on key streets in the inner city such as Le Hong Phong, Nguyen Van Cu, Quang Trung..., has prices ranging from 15 - 30 million/m2, in some places up to 80 - 150 million/m2, comparable to big cities.

Experts estimate 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 live a classy life, but also an opportunity for investors who want to reach out to new cities.

PV