Long An seeks $444m of private investment for residential area project

The Đức Hoà District in Long An Province. The province is seeking VNĐ11.2 trillion worth of investment for a residential development spanning nearly 215 hectares in Đức Hoà District. — VNA/VNS Photo

LONG AN — Long An Province is seeking investment of VNĐ11.2 trillion (US$444.3 million) for a residential area project spanning 215ha and accommodating 30,000 residents.

Of the amount, VNĐ4.2 trillion will be allocated for compensation and resettlement.

The provincial Department of Planning and Investment has announced plans to invite investors to invest in the development located in Mỹ Hạnh Bắc Commune, Đức Hòa District. 

The residential area project will include both commercial and social housing units that span over 164,000 square metres. 

In addition, public amenities such as a shopping mall, commercial services, parking facilities, and educational institutions will be integrated into the development.

The project will be implemented over six years, and is slated to commence in early 2025 and conclude by 2030. The deadline for submitting project registration applications is September 6.

Long An has seen rapid urban and real estate growth in recent years. 

Major real estate companies, including Vinhomes, Nam Long, and Becamex, have recently focused their attention on opportunities within the province. 

Currently, 18 industrial parks are operational in the province.

Last year, it attracted over 1,200 foreign direct investment (FDI) projects, totaling $11 billion, positioning it among the top destinations for FDI in Việt Nam. — VNS