A Bright Future for Luxury Real Estate in Thủ Đức City

by Business Today

Thủ Đức City, established in January 2021, is expected to become a new growth hotspot in Ho Chi Minh City. With its strategic location as the gateway to the Southeast region, Thủ Đức is rapidly expanding its public transportation network and improving its infrastructure.

Smart City Initiative Boosts Public Transportation and Infrastructure

Thủ Đức City is investing in the “Smart City” initiative to enhance its public transportation and infrastructure. With easy connectivity to major cities like Bình Dương, Đồng Nai, Bà Rịa – Vũng Tàu, Thủ Đức is increasing its public transportation routes by 60% and improving its infrastructure.

To further improve the transportation system connecting Thủ Đức City with satellite towns and the Southern region, a total investment of over 300,000 billion VND is planned for the next 10 years. This investment will go towards projects such as upgrading National Highway 1K, the HCMC-Long Thành-Dầu Giây expressway, Thủ Thiêm Bridge, Cát Lái Bridge, Metro Line 1, and the railway connecting Tân Sơn Nhất Airport and Long Thành Airport.

One of the key strategic transportation projects in Thủ Đức City is the An Phú interchange, scheduled to commence construction at the end of 2022. The project is being expedited to ensure completion before April 30, 2025, and is expected to be a major catalyst for the real estate market in Thủ Đức in 2024.

Experts in the real estate industry have noted that wherever the transportation system develops, there are opportunities for real estate infrastructure to flourish. The expansion of Thủ Đức’s main arterial roads has created favorable conditions for the development of real estate projects and has brightened the overall landscape of the region.

Strong Demand from High-Quality Human Resources

Thủ Đức City is expected to be a hub for new technology transfer to the provinces in the Southeast region and to develop technological products for the important economic region in the South. As the city focuses on the knowledge economy, it is projected to attract more than 20,000 engineers and experts to work here. Currently, Thủ Đức City has a population of 1.2 million people. By 2030, the city’s total population is estimated to reach 1.5 million, and by 2040, it is projected to reach 2.2 million, with a significant portion being highly skilled labor.

For example, the hi-tech magnet Quận 9 in Thủ Đức City already has over 140 projects with a total investment of over 7 billion US dollars, attracting a large workforce and intellectual capital to the area.

With these factors in mind, the demand for housing in Thủ Đức City is expected to increase in the next five years, requiring a diverse range of residential products including serviced apartments, condominiums, and townhouses.

The Gateway to Luxury Real Estate

According to many real estate experts, the high-end segment will be the gateway to the luxury real estate market in Thủ Đức City. This is due to the presence of a large number of expatriates living and working in the area, as well as the demand for high-quality living environments from skilled professionals. In addition to the demand for residential properties, renting and investing in luxury real estate in Thủ Đức City is also steadily increasing.

Another factor that contributes to the high value of luxury condominiums in Thủ Đức City is the lack of available land in the central area of Ho Chi Minh City. As the population gradually moves towards the outskirts, the demand for housing in these areas becomes inevitable.

Located on Mai Chí Thọ Street, Eaton Park is the most prestigious project in the Thủ Đức City real estate market. It is only a 15-minute drive from District 1, the central district of Ho Chi Minh City. Eaton Park is strategically positioned near the An Phú interchange, the gateway to the city center, and has complete legal documentation. Within a few minutes from Eaton Park, residents can access 12 international schools and a range of commercial centers and the Quốc tế Hospital.

This project is developed by Gamuda Land, a renowned foreign real estate developer with nearly 30 years of experience in urban and high-rise development. In Vietnam, Gamuda Land is developing various projects, including Gamuda City (Hanoi), Celadon City (Ho Chi Minh City), Artisan Park (Bình Dương), and Elysian (Thủ Đức City).

Caption: Eaton Park, the only high-end project at the gateway to Thủ Đức City, located on Mai Chí Thọ Street. Photo: Gamuda Land

With the rapid development of Thủ Đức City’s transportation and infrastructure, as well as the influx of high-quality human resources, the luxury real estate market is poised for significant growth. Projects like Eaton Park are prime examples of the attractive investment opportunities available in Thủ Đức City’s real estate sector.

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