Bình Phước Province’s real estate market expected to heat up

A industrial cluster in the southern province of Bình Phước. — Photo vnexpress.net

HCM CITY — The property market in the southern province of Bình Phước is expected to heat up because a series of infrastructure projects including an airport and industrial parks is planned to be built from now through 2030.

Nguyễn Minh Chiến, head of the province’s Economic Zone Authority, said administrative procedures are being streamlined, favourable policies are being offered to investors, activities to facilitate online investment are being carried out, and modern and smart technologies are being adopted to speed up the projects.

Nguyễn Tấn Hùng, director of the province’s Department of Transport, said the focus is on transport infrastructure works such as the HCM City-Thủ Dầu Một-Chơn Thành-Đắk Lắk Expressway, the Dĩ An-Hoa Lư Railway and Highway 14C to Đắk Nông Province.

The highway between Chơn Thành in Bình Phước Province and HCM City would be built by 2025, he said.

Bình Phước has proposed lengthening the highway by one kilometre to 70.

It is estimated to cost VNĐ36 trillion (US$1.5 billion), with VNĐ19 trillion ($825.7 million) coming from private sources.

It will facilitate socio-economic development in Bình Phước and Central Highlands provinces, according to the former’s People’s Committee.

Trần Tuệ Hiền, chairwoman of the People’s Committee, said the province is soliciting $2 billion worth of investment in 80 key projects.

Priority would be given to key areas such as technology including information technology, supporting industries, agriculture, environmental protection, infrastructure, culture, sports, tourism, and healthcare, she said.

The province is famous for two crops with high economic value, rubber and cashew, and has 243,000ha of land under the former and 138,000ha under the latter.

The province plans to establish 35 industrial clusters in its 11 districts and towns by 2030 at a cost of VNĐ5.9 trillion ($260 million).

Of them, 21 will be built on ​​583 hectares of land from now to 2025, and the other 14 will be built by 2030 on another ​​580 hectares.

The industries to be developed here include farm processing, rubber and plastic, metal, electronics, vehicle parts, and textiles and apparel. They are expected to create around 30,000 jobs.

The demand for housing is expected to grow because of the new industrial zones.

Of new residential projects proposed, the Asian Holding Real Estate Company has invested in the Asian Lake View project in Đồng Xoài City.

The 4.7ha project includes a residential area, shophouses and an area for entertainment.

Another residential project is the 92.7ha Cát Tường Phú Hưng Complex Urban Area in Đồng Xoài City at a cost of $70 million.

Bình Phước will focus on attracting investments in technology, organic agriculture and processing of agricultural products like cashew, pepper and fruits. — VnExpress News