“Panoramic picture” of Thu Duc City
Thu Duc City is expected to be a nuclear area leading the economy and promoting the development of Ho Chi Minh City and also Southeast region. Therefore, Thu Duc City is being a name that many investors as well as real estate enthusiasts pay attention towards real estate potential in the future. Here, let’s take a look at the “panoramic picture” of this new potential city.
Introduction
On July 24th, 2020, Thu Duc City directly under HCMC was officially approved by National Assembly Standing Committee. The Resolution took effect from January 1st, 2021.
The new city includes District 2, District 9 and Thu Duc District with a total natural area of about 21,000 hectares and a population of 1,013,795 people. 10% of the area will be for parks, in which 30% of the park area is for Detention Basin to reduce flooding. Simultaneously, 1,000-1,200 ha of industrial land will be arranged to ensure space for high-tech production, research and development.
This new city has totally 34 wards, geographically adjacent to District 1, District 4, District 7, District 12, Binh Thanh District (HCMC) and Binh Duong, Dong Nai provinces.
3 big advantages of Thu Duc City
This is a city with a crucial important location. It connects with Long Thanh Airport, Dong Nai, Binh Duong provinces and other development motivations.
Thu Duc City, itself has a lot of existing potentials, typically as the high-tech park that is working very well. Export turnover of this area currently accounts for about 40% of the total export turnover of HCMC. In particular, this is a place attracting foreign capital investment and big corporations such as Intel, Samsung,…
This area has student village. In which, the main one is Vietnam National University Ho Chi Minh City. Next are Fullbright University, University of Agriculture and Forestry, University of Technical Education… They will be supply for human resources and scientific research products.
The new city also has Thu Thiem New Urban Area – where the regional and international financial center will be located.
Consequently, within this area, there are 3 main axes of high technology, human resources and financial center. Here will form a very important development triangle.
Infrastructure development in Thu Duc City
According to the project of traffic infrastructure development in HCMC from 2021 to 2030, many large traffic works in Thu Duc City will be continued to be invested such as HCMC – Long Thanh – Dau Giay Expressway, My Thuy Intersection, An Phu intersection, Ring road 3, Cat Lai Bridge, Thu Thiem Bridge, Metro line No. 1… Details are as follows:
- My Thuy Underground Tunnel – this is a key traffic project of HCMC with a total capital up to 2,400 billion VND. When completing, the project will connect with Ring road 2, solve traffic jams and meet the demand of good transportation to Cat Lai Port at the same time.
- Thu Thiem Tunnel, a prominent work on Vo Van Kiet Boulevard, is extremely important to the development of Thu Duc City. It creates a great premise for the development of Thu Thiem Urban Area – The financial center of the area in the future.
- HCMC – Long Thanh – Dau Giay Expressway starts at the intersection of Mai Chi Tho Boulevard connecting with National Highway no.51 belonging to Long Thanh – Dong Nai Province. A crucial route helps to connect traffic between HCMC and key economic regions in the Southeast. Especially, it will connect with Long Thanh Airport in the future.
8 key areas of Thu Duc City
- The financial center associated with Thu Thiem New Urban Area
- Rach Chiec Health and Sports Center
- High-tech center
- Science and technology education, training and research center
- The largest creative startup center in Vietnam
- Eco-Technology Center – Tam Da Area and Long Phuoc University
- Traffic center connecting Southeast region and Cat Lai Port
- Truong Tho Urban Area – A future Urban Area.
With these 8 key development areas, it will contribute to rapidly changing the face of Thu Duc City, improving the quality of people’s lives, creating a breakthrough, unleashing many resources, leading to large capital flows into the housing market, commerce, services, education, entertainment… The real estate market here needs many types of mid- and high-end housing to meet the needs of high-income people, professionals, business people…
In addition, in the area adjacent to Thu Thiem Financial Center, a series of high-class residential areas were formed. They will bring a new look to the area, especially projects located along main roads such as HCMC – Long Thanh – Dau Giay Expressway, Mai Chi Tho Boulevard, Vo Chi Cong, Dong Van Cong, Nguyen Thi Dinh….
* In summary, the development potential of Thu Duc City in the future will lead to the positive and strong development of the real estate market in this area. If you are interested and need more information about the housing and rental market in Thu Duc City, please contact us via hotline: +84 903004226.
Dennis
