KCN Đông Anh: Vinaconex Acquires Nearly 300 Hectares
Vinaconex, the prominent Vietnamese real estate and infrastructure development company, has recently acquired the KCN Đông Anh project. Spanning over nearly 300 hectares, this industrial park project is set to redefine the landscape of Đông Anh district in Hanoi, Vietnam. With a total investment of over 6.338 trillion VND, Vinaconex’s contribution to the project is close to 1.268 trillion VND.
Project Overview
The KCN Đông Anh project will be developed across several communes, including Nguyên Khê, Xuân Nộn, Thụy Lâm, Liên Hà, and Đông Anh town. This ambitious undertaking consists of two phases, totaling 299.45 hectares. The first phase will cover an area of 179.1 hectares, while the second phase will encompass 120.35 hectares. It’s important to note that these figures do not include the land already leased by existing investors and businesses, conforming to the urban planning of N6 and the industrial zone development plan in Đông Anh district.
The project is granted a 50-year operating period starting from the approval of the investment decision and investor approval. Vinaconex will be responsible for ensuring that all project documents and submissions to relevant authorities are legally compliant, accurate, and truthful. They must also provide sufficient capital, as committed, to maintain project progress and adhere to land regulations. Moreover, the project can only commence once it fulfills all legal requirements, including obtaining the necessary permits for changing land use from rice cultivation and paying a sum for the protection and development of agricultural land.
Vinaconex: A Prominent Player in the Real Estate Market
With the acquisition of the KCN Đông Anh project, Vinaconex adds another significant milestone to its portfolio. This reputable company has been actively involved in various real estate segments, including industrial, residential, and resort properties. Notably, Vinaconex is currently managing the 270.8-hectare Hòa Lạc high-tech park, and they aim to complete its basic infrastructure by the end of 2024.
Another prominent project in Vinaconex’s pipeline is the Sơn Đông industrial complex. Planned on a 72.5-hectare area in Sơn Tây, Hanoi, this project is expected to commence in the fourth quarter of 2024 and enter its operational phase between 2025 and 2026.
Expanding Beyond Industrial Real Estate
Aside from industrial real estate, Vinaconex has diversified its investments into residential properties, including residential areas, urban developments, and condominiums, as well as resort properties. Many of Vinaconex’s projects are currently in progress, with two standout projects being the Green Diamond residential complex in Hanoi and a portion of the Amatina Cát Bà project in Haiphong.
The Green Diamond project is a mixed-use development comprising residential units, offices, and commercial services across 27 floors. It was completed and launched in 2022, and financial estimates suggest it could generate around 2.2 trillion VND in revenue for Vinaconex.
The Amatina Cát Bà project is a large-scale resort development covering 172.3 hectares, with a total investment of 10.981 trillion VND. The project, which began in 2011 but faced delays, was officially resumed in November 2020, with a commitment to complete all elements by 2025. Vinaconex plans to start selling and delivering products from this flagship project in 2024.
Vinaconex’s Success in National Construction Projects
In addition to their accomplishments in the real estate sector, Vinaconex has achieved significant milestones as a main contractor in national projects. These include key national projects and foreign-invested projects in various fields such as civil and industrial construction, infrastructure, transportation, and aviation infrastructure. For instance, Vinaconex won the bid for Package 09/TP2-XL as part of the Investment Project “Construction of the Peripheral Ring Road 4” in Hanoi.
Notably, Vinaconex and its consortium won an international tender and became the contractor for Package 5.10 “Construction and Installation of Passenger Terminal” at the Long Thành International Airport (Phase 1). This aviation infrastructure project, a national key project, has a total investment value of nearly 35 trillion VND, with Vinaconex’s contract value amounting to around 4 trillion VND.
Future Prospects: A Leap Forward in the Real Estate Market
With a vast land bank of over 2,000 hectares, encompassing industrial parks, residential areas, and resort developments, Vinaconex is poised to make significant strides in the Vietnamese real estate market in the coming years. These projects are expected to be introduced to the market over the next two to three years, further cementing Vinaconex’s role in shaping Vietnam’s real estate landscape.
As a leading player in the industry, Vinaconex seeks to contribute to the growth and transformation of the Vietnamese real estate sector while adhering to stringent legal and regulatory requirements. By channeling their expertise and resources, Vinaconex is well-positioned to drive innovation and set new benchmarks in the industry.