South Saigon is still the center of real estate development
With a series of projects already in the plan to be completed, implemented in a short term, South Saigon is becoming the most developed area in the city, leading to the growth of the real estate market.
Resolving the traffic difficulties by an infrastructure project of trillion dong
Compared to other areas in Ho Chi Minh City, the South used to be overshadowed by the overload on infrastructure when the transport system was not enough to meet the growing number of residents. Roads leading to the center or the neighboring districts face continuous prolonged traffic jam.
However, in the last 10 years, the South Saigon area has changed markedly in infrastructure by roads built and expanded. In solely 2018, South Saigon recorded an investment amount of 115,000 billion VND into a series of major transport projects such as underground tunnel – overpass at Nguyen Van Linh – Nguyen Huu Tho Intersection, Huynh Tan Street expansion, expansion of the North – South road from Hoang Dieu to Nguyen Van Linh street, expansion of National Highway No. 50, Construction of Thu Thiem 4 Bridge connecting District 7 and District 2, etc. Especially, Metro line No. 4 going through District 1, 3, 4, 7, 12, Go Vap, Phu Nhuan and Nha Be districts, etc. with total investment of 97,000 billion VND is one of the key projects promising a breakthrough in infrastructure for South Saigon.
Not only solving the problem of connecting with urban districts and central areas, the city government also tried to improve the connection between South Saigon area and neighboring provinces. The policy of expanding Nguyen Huu Tho, Le Van Luong streets and constructing Rach Dia Bridge, Long Kieng Bridge, Rach Doi Bridge and Rach Tom Bridge, etc. was approved. Ben Luc – Ho Chi Minh City – Long Thanh highway project is expected to open traffic for 20km in 2019 to create a quick connection between South Saigon and the eastern provinces.
Beside big projects, infrastructure in the South has also been improved with a series of projects to expand bridges and reduce pressure at “accident black spots”. In mid-2017, Kenh Te Bridge expansion project was deployed, expanding the bridge from 14m to 16.5m.
Y-shaped bridge, connecting District 5 and District 8 has been upgraded of strength, and expanded to 12m wide, reducing the conflict at the bridge junction. This work has effectively reduced traffic jam not only for the bridge but also for the surrounding routes.
In this year, the City plans to start constructing the Nguyen Khoai Bridge with total investment of over 1,250 billion VND, crossing Kenh Te river to connect District 7 to District 4 with a length of about 1km, starting from D1 street of Him Lam residential area and ending at Ben Van Don street. The construction of this bridge will also facilitate the connection of South Saigon area with the City center and reduce pressure on Kenh Te bridge as well as reduce traffic jam .
Differences in natural and ecological conditions
With the orientation of becoming one of the four satellite urban areas of Ho Chi Minh City, the South Saigon area is expected to contribute greatly to socio-economic development and reduce population pressure for the city center. As an urban strip along the axis and near the two central districts (District 1 and District 5), with the current transportation system, South Saigon is easy to get traffic convenience and connect to the surrounding areas. The development of the City to the south is in line with the trend of major cities in the world that is to gradually move to the sea. In addition, owning dense canal system near Can Gio protection forest – HCM City’s green lung, South Saigon is assessed to have ideal conditions for ecological urban development.
Therefore, although Ho Chi Minh City has always been expanded in various directions, but South Saigon still possesses its own advantages to attract investors who want to develop product lines towards freshness and relaxation.
For example, Sunshine Diamond River project is located at the center of triangle District 1, District 2, District 7. It’s prime location not only provides price rise opportunities, but also has the advantage of “near city, near river, near roads” (near Dao Tri road, Phu My bridge and Saigon river).
The project aims to create a resort 4.0 lifestyle firstly appearing in Vietnam with 3 values: Smart relaxation – Smart utility – Smart life. This combination brings residents a relaxing life in the city, dynamic and bustling spaces but still ensures private space for efficient energy regeneration.
Along with Mui Den Do urban area developed by two leading Malaysian corporations, experts predict that the project will “arouse” District 7 and make real estate prices rise rapidly. A resort complex with various high-class facilities, a large amusement park with plenty options for the community, a “small-sized city” that satisfies all the needs of modern residents.
With a comprehensive and thorough investment with many outstanding projects, South Saigon is expected to become an ideal destination and living place for successful residents and foreigners to live and work in Vietnam. For investors, this area also opens up profitable opportunities when exploiting leasing thanks to the diamond location, large scale and unique utilities.