Ecopark’s Mega Project in Long An Transforms 200ha of Rice Fields into a 17,000 Billion VND Urban Area
Mega projects continue to dominate the real estate market in Vietnam, with the latest development being the approval of Ecopark’s eco-tourism, commercial, and residential urban area in Thanh Phu commune, Ben Luc district, Long An province. This transformation involves converting 201ha of rice fields into non-agricultural land, allowing the implementation of the ambitious project.
A New Ecological and Commercial Tourism Center
The eco-tourism and commercial urban area in Thanh Phu covers over 220ha and boasts a total investment of more than 16,981 billion VND. The project is spearheaded by Ecopark Group, a consortium comprising DB Investment and Development Company Limited and Ecopark Corporation Joint Stock Company. The development will take place in Ap 3, Ap 4, and Ap Thanh Hiep within Thanh Phu commune.
The project aims to accommodate a population of approximately 37,163 people. The urban area will consist of various housing options, including 4,951 low-rise residential plots, 4,300 high-rise mixed-use apartments, 180 resettlement plots, and public facilities such as parks and lakes. The project is scheduled to be executed between 2023 and 2028.
Phased Implementation
The project will be divided into two phases over a span of six years. Phase 1 (2023 – 2025) will focus on compensation and land clearance, along with the construction of components 1, 2, 3, 4, and 7. Phase 2 (2025 – 2028) will involve the construction of components 5, 6, 8, and 9.
Long An: A Hotspot for Real Estate Development
Long An province has become increasingly attractive to real estate giants seeking new opportunities near Ho Chi Minh City. Vinhomes, Bimgroup, and Eurowindow are among the prominent developers actively exploring this region.
Most recently, Vinhomes and Vietnam Investment Group (VIG) jointly registered to develop the Phuoc Vinh Tay New Urban Area in Can Giuoc district, Long An province. This vast project covers an area measuring approximately 1,090ha and is expected to accommodate approximately 89,960 residents. With a preliminary estimated cost of 80,000 billion VND, the project’s land acquisition expenses alone will amount to 10,678 billion VND.
In October 2023, Vinhomes’ subsidiary, Phat Trien Thanh Pho Xanh Joint Stock Company, secured the rights to develop the Hau Nghia – Duc Hoa New Urban Area in Hau Nghia town, Duc Lap Thuong commune, and Tan My commune, Duc Hoa district. This project, which covers approximately 197.2ha and is projected to house 40,000 inhabitants, has an estimated total investment of around 28,258 billion VND.
Eurowindow, one of the top players in the real estate market, also entered Long An in August 2023. As part of a consortium consisting of Melinh Plaza Thanh Hoa Commercial Complex Investment Joint Stock Company, Vinh Commercial Center Investment Joint Stock Company, and Eurowindow Nha Trang Tourism Investment Joint Stock Company, Eurowindow embarked on a new urban area project in Ward 4 and Ward 6 of Tan An city. The planned development spans over 137ha, with a total investment of more than 7,118 billion VND, including over 1,000 billion VND for compensation and resettlement support. The urban area is expected to accommodate approximately 17,225 residents.
Furthermore, during a conference held in July 2023 to announce the province’s development plan and attract investment, Long An province signed memoranda of understanding with Vingroup, Bimgroup, and Phu My Hung Corporation to explore investment opportunities in resort complexes, renewable energy, agriculture, international-standard urban areas, and services.
As the real estate market in Vietnam continues to expand, Long An province is quickly emerging as a key destination for major development projects. With its strategic location near Ho Chi Minh City, the region offers immense potential and opportunities for investors and homebuyers alike.
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