Ho Chi Minh City is pushing forward with large scale projects as part of its central development plan for 2020.
This plan will focus on five different sub-areas of the city centre. Each sub-area will be developed according to its outlined functions or attributes, such as financial, trade, cultural, and historical areas, as well as the urban area along the banks of the Saigon River.
To implement this new urban development plan, the city will relocate the inner ports of Tan Cang, Ba Son, Khanh Hoi, and Ben Nha Rong to outside the city center.
Following their relocation, the Ba Son Factory will be changed to a multi-function complex of offices for lease, a financial centre, and high-end hotel, and the Saigon Port will be changed into a marine tourism area. Meanwhile, Tan Cang has become home for one of the most modern urban areas of Vietnam – Vinhomes Central Park.
The urban area west of the Saigon River – the riverside heart of Ho Chi Minh City
Located on the west bank of the Saigon River, this third sub-area is a multi-functional area, stretching from Saigon Bridge to Tan Thuan Bridge, and belonging to Binh Thanh District, as well as Districts 1 and 4.
Bordered by Saigon Bridge in the north, Nguyen Huu Canh-Ton Duc Thang road in the west, Nguyen Tat Thanh and Kenh Te in the south, and the Saigon River in the east.
In addition to the plan to build a road alongside the Saigon River, the sub-area will become a new cultural, entertainment, and public space hub for Ho Chi Minh City.
Vinhomes Central Park – a benchmark property in Ho Chi Minh City
Vinhomes Central Park offers many advantages in terms of its prime location and its improved infrastructure.
The apartment buildings in Vinhomes Central Park are a magnet for many buyers due to their high-quality infrastructure system, high yield potential, and the prestigious name of the investor.
Benefitting from a high-standard infrastructure system of new roads, bridges, and an urban railway, the area is serviced by Thu Thiem bridge, Hanoi Highway, the West-East boulevard linking to Long Thanh-Dau Giay, as well as the Ben Thanh-Suoi Tien metro route.
As evidenced by similar projects in Europe and the US, projects located next to urban railway systems have increased the housing price from 2 to 8 per cent.
In addition to the high demand from end users, many customers are targeting apartments for lease.
According to the latest research from CBRE Vietnam, the buy-to-let tendency has become more and more popular thanks to its high profit yields.
The relaxation of foreign housing ownership limits, combined with promotional sales programmes offered by developers has reaped rich dividends since implementation three months ago.
Gross rental yields in certain high-end condominium projects in district 2 and district 7 in Ho Chi Minh City are estimated by CBRE to be between 6 to 8 per cent, while net yields are about 4.5 to 6.5 per cent.
Vinhomes Central Park is developed by Vingroup – which has a multitude of projects nationwide, including multifunctional complexes in Hanoi, Ho Chi Minh City, Nha Trang, Danang, and other major cities nationwide.
Vingroup’s brand Vinhomes was recently assessed as the most valuable brand in Vietnam by Brand Finance, a London-based brand valuation and strategy consultancy firm.
As a green, modern, and luxurious urban community in Vietnam, Vinhomes Central Park draws its inspiration from the world-famous Central Park in New York City. It has a construction density of only 16 per cent, and devotes 14 hectares to parks, the city’s largest green space along the Saigon River.
With river-frontage stretching more than a kilometre, Vinhomes Central Park offers a green living area in the heart of Ho Chi Minh City which will act as the lungs of the entire city. It consists of The Villas, The Central, and The Landmark, and includes the iconic 81-storey building called Landmark 81 as well as The Park.