Why Hai Phong attracts real estate giants

Masterise Homes is the latest name to invest in Hai Phong with an urban area in Thuy Nguyen district, with a scale of 7.2 hectares. Previously, Vinhomes developed a project on Vu Yen island, Thuy Nguyen district with an investment capital of about 2.4 billion USD. DOJI Land, BRG, Hoang Huy... have a series of commercial housing. In addition, some foreign enterprises have appeared in Hai Phong such as AGAPE Singapore or Fujita - Takara Leben Group Japan.

This city has many advantages in socio-economic development, attracting investment including real estate.

Economic resilience

Hai Phong is one of the five centrally run cities with a large economic scale and rapid growth rate. By the end of the first quarter of 2024, Hai Phong's economic growth rate remained at the top of the country, ranking first among the five centrally run cities, and seventh in the country. Gross Regional Domestic Product (GRDP) increased by 9.32% over the same period, and the index of industrial production (IIP) in the first quarter is estimated to increase by 12.59%.

In addition to economic scale, this locality also ranks second in the country with a total capital attraction of 3.4 billion USD, with 933 valid projects with a total investment capital of 28.9 billion USD. In 2023, the industrial production index of the whole industry is estimated to increase by 13.16% over the same period last year.

The urban population of Hai Phong city by 2020 is about 1.35 million people, of which the central urban population is about 1.1 million people. Hai Phong is the locality with the 5th highest per capita income in the country.

With the economic foundation, the Hai Phong market has begun to see a demand for high-end projects, closed urban areas with systematic investment, serving the enjoyment, entertainment and recreation needs of the people. This has prompted many large corporations to invest in real estate with many large projects, including investors who are appearing for the first time in this locality such as Masterise Homes.

Mr. Le Quoc Hung - Business Development Director of Masterise Homes in the North said that Hai Phong has many advantages for economic development such as owning 5 types of transportation connecting and transporting to domestic and international provinces, located on the economic cooperation corridor and being the largest industrial center and seaport in the North.

Masterise Homes sees the potential of real estate in areas that Hai Phong is focusing on investing in, such as Thuy Nguyen. This is the reason why the group chose to develop projects here.

Planning provides room for development

The Hai Phong City Master Plan to 2030, with a vision to 2045, opens up new opportunities and development space to develop Hai Phong into a major seaport city with three development pillars: seaport services - logistics; green, smart, modern industry and international sea tourism center; with a high level of development.

With this plan, Hai Phong's population by 2030 will reach about 2.8 - 3.0 million people, the urban population will reach about 2.0 - 2.2 million people, the urbanization rate will reach 74 - 76%. The data shows a picture of the potential demand for residential real estate in this city.

In particular, according to the general planning of Hai Phong city until 2040, with a vision to 2050, Hai Phong will have more cities and a series of seaport urban areas. The city's development according to the model of "multi-center urban area and satellite urban areas" will simultaneously open up many new opportunities for real estate. Accordingly, the three urban centers and satellite urban areas include: Historical urban center and new administrative urban area North of Cam River; International commercial and financial center in Hai An and Duong Kinh and Tien Lang Airport Urban Area. Satellite urban areas include urban areas in the marine, agricultural and rural ecological regions. In addition, Thuy Nguyen will become a city in 2025, becoming the new administrative and political center of Hai Phong.

Planning information provides the locality with room for real estate development with the emergence of new satellite towns, while also meeting the needs of diverse real estate segments. As the city expands, demand for the commercial and accommodation markets will increase. This creates conditions for investors and developers to exploit the Hai Phong market.

According to experts, when the city expands, it will create more attraction for large investors to exploit the market. In addition, the advantages of transport infrastructure, industrial parks, seaports and urban development orientation will help Hai Phong develop a variety of real estate segments, from social housing to high-end projects and closed urban areas.

The city's new "axis of prosperity"

One of the localities that Hai Phong has focused on investing in recently is Thuy Nguyen. This locality is planned to become a type 3 urban area by 2025, aiming for a type 2 urban area before 2035 with a city model belonging to Hai Phong city.

The urban appearance of the "new city" Thuy Nguyen is being developed with iconic constructions. Accordingly, a "prosperity axis" is being created and shaped right in the center of Thuy Nguyen, with the starting point being the new political and administrative center of Hai Phong. Inspired by the image of a ship with two sails stretching out to the ocean, this will be the new headquarters of the city's political and social agencies and organizations... in 2025, with tens of thousands of people working.

Next is the new conference and performance center, designed in a round and soft shape like the image of ocean waves and rivers, with the effect of a drop of water creating concentric waves on the sea surface. This will be the new focal point for organizing important conferences, seminars as well as national and international performance programs.

The final piece of the prosperity axis is The Centric project developed by Masterise Homes with the orientation of becoming a symbol of commerce - entertainment - culture in the center of the new city of Hai Phong. This is currently the first project located next to two "century works" of Hai Phong, and is also a piece to complete the bustling administrative - artistic - commercial service ecosystem of the future city.