Wednesday , July 24 2024

Vinhomes to operate $1B northern urban complex in 2026

Property developer Vinhomes plans to start operating a 240-hectare urban complex at a cost of VND23.3 trillion (US$958,850) in the northern port city of Hai Phong in 2026.

To come up in the suburban districts of Duong Kinh and Kien Thuy, its layout has been approved by city authorities.

It will be near an expressway connecting Hanoi with Hai Phong and Quang Ninh Province on the China border.

By 2026 key infrastructure such as roads, houses and schools will be completed, and the project is slated for completion in the second half of 2029.

It will have 48,000 residents.

It will earmark 69.4 ha, or 29% of the total area, for residential property comprising 5,000 townhouses and 1,300 villas.

There will be one high school, two secondary schools and five kindergartens.

Vinhomes and parent company Vingroup have invested in several large urban projects in Hai Phong, a key hub for international trading in the northern region.

Another Vingroup subsidiary, automaker VinFast, has a $1.5-billion manufacturing complex in the city.

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