Ecopark: Discovering Real Estate Opportunities in Hung Yen

Real estate development has been a critical driver of economic growth in many countries around the world. The development of mega real estate projects is increasingly popular globally, and Viet Nam is no exception. Viet Nam has seen several mega real estate development projects in recent years, especially in outlying cities and provinces like Hung Yen. This article will unpack what mega developments are and how this market is evolving in Viet Nam.

What are Mega Real Estate Developments?

Mega real estate developments are large-scale projects that offer a range of real estate options, such as residential, commercial, retail, and industrial properties. They are characterised by their size, which can range from hundreds to thousands of hectares, and their facilities, which can include schools, hospitals, parks, shopping malls, and other amenities. These projects require careful planning and coordination to ensure that they are developed in a way that meets the needs of the community while minimising negative impacts on the environment. Examples of mega real estate developments around the world include Masdar City in Abu Dhabi, Palm Jumeirah in Dubai, and Hudson Yards in New York City.

Mega Developments in Viet Nam:

Viet Nam has seen significant growth in mega real estate development projects in recent years. Real estate investors and developers are keen on outlying districts and provinces nearby Ho Chi Minh and Ha Noi for development opportunities. They are keen on outlying areas as they offer affordable land prices and proximity to central business districts as well as established and emerging industrial areas like Binh Duong or Hung Yen. Improving infrastructure and transport links means these areas now offer reasonable commutes. Given their location outside of the city centre, mega projects offer superior facilities, including hospitals, schools, and parks. These projects also cater to post-pandemic demand for healthy living with superior air quality, more space, and sprawling green areas.

According to Savills latest Spotlight: Hung Yen report, infrastructure developments like Ring Road 4 and the expansion of Noi Bai International airport will support mega developments. Learn more about infrastructure development in Hung Yen and how they are supporting real estate investment and development.

In the south, Vinhomes Grand Park is a mega development in District 9, Ho Chi Minh City. It spans over 271 hectares and offers diverse properties, including apartments, villas, townhouses, shophouses and even branded residences at The Rivus. The development also includes facilities such as schools, hospitals, shopping malls, and sports centres.

In the north, Ecopark in Hung Yen Province sits just outside of Ha Noi. It spans more than 500 hectares and offers apartments, villas, serviced apartments, townhouses, and shophouses. The development features schools, hospitals, parks, and other amenities, which is necessary given its distance from Ha Noi. Vinhomes Ocean Park and Vinhomes Smart City are also significant projects and since launching in late 2018 and early 2019, these projects accounted for 45% of new supply and 33% of sales, reflecting continued demand for outlying areas.

Ecopark in Hung Yen:

Ecopark is a unique mega real estate development in Hung Yen. It has a strategic location, with easy access to Ha Noi and other major cities. It is close to the Bac Ninh-Hai Phong Expressway, and the transport infrastructure within Ecopark is well developed, with wide roads and an efficient public transportation system. The system includes a bus service between the project and central districts in Ha Noi, including Ba Dinh, Dong Da, Thanh Xuan, Hoan Kiem, Tay Ho, and Ha Dong .

Ecopark prioritises sustainability and has features such as solar panels, green roofs, and rainwater harvesting systems. Ecopark's developer, Viet Hung Urban Development and Investment JSC (VIHAJICO), has invested heavily in sustainable development practices to ensure Ecopark meets the needs of its residents while minimising its impact on the environment. The project has a LEED Gold certification, which is an internationally recognised green building certificate.

Economic development in Hung Yen Province creates greater employment opportunities, which will drive significant residential demand. Hung Yen also has healthy FDI inflows, which will create residential demand from foreign workers and experts. Robust economic, industrial, and infrastructure improvements give savvy investors the opportunity to capitalise on residential real estate in Hung Yen.

Conclusion

Mega real estate developments such as Ecopark in Hung Yen are on the rise in Viet Nam, especially in attractive outlying provinces and areas. Mega developments offer diverse property types and facilities, making them attractive to residents and businesses. As Viet Nam continues to experience rapid urbanisation, land banks in large cities are limited. This means that investors looking for real estate opportunities are looking to provinces like Hung Yen, where they can capitalise on the province’s affordable land banks, proximity to Ha Noi, and clear demand for quality real estate products. Mega real estate developments must be carefully designed to meet the needs of the community while minimising their impact on the environment.

Read more about development and investment opportunities in Hung Yen.