What Does Infrastructure in East Ho Chi Minh City Look Like After Continuous Cash Injection?
Vành đai 3 TP.HCM đang được đẩy nhanh thi công đồng loạt để sớm hoàn thành vào năm 2025
The infrastructure development in East Ho Chi Minh City is seeing significant progress after receiving continuous funding. The completion of various projects is expected to transform the region and enhance transportation connectivity, laying the foundation for economic growth.
The Outlook for East Ho Chi Minh City’s Transportation System by Early 2024
Construction work is in full swing at the XL3 contract site, which passes through Vinhomes Grand Park. Hundreds of workers are diligently carrying out tasks such as land excavation, soil treatment, and pile construction to accelerate the project’s timeline. The Vành đai 3 TP.HCM project officially entered the construction phase at the beginning of 2024. All ten contracts have been initiated, pushing the progress forward. With the current pace, the main section of the project is expected to be completed by 2025, while the entire route will be finished by 2026.
Alongside these efforts, the Ho Chi Minh City Department of Transportation has reported to the local government on the implementation progress of six key transportation projects in the city. These projects, including the closed-loop Vành đai 2 road, Vành đai 4 road, Thủ Thiêm 4 bridge, Cần Giờ bridge, Cần Giờ international transshipment port, and pedestrian bridge across the Saigon River, are planned to commence construction by April 30, 2025. Most of these projects are located in the eastern gateway area, connecting East Ho Chi Minh City with the southern region. Once completed, they will play a crucial role in regional connectivity, boosting freight transport, reducing travel time, and expanding urban development.
According to Minister of Finance Hồ Đức Phớc, a significant portion of public investment for 2024 will be allocated to important national projects and regional integration projects, with a total investment of 94,199 billion Vietnamese đồng. One of these projects is the Vành đai 3 TP.HCM.
Given that East Ho Chi Minh City serves as a transportation hub, connecting various routes and serving as a national transportation focal point, the completion of these infrastructure projects will not only change the landscape but also establish the area as a transit hub and a focal point for economic activities.
Vinhomes Grand Park’s Real Estate Attraction Boosted by Infrastructure Development
When significant funds are invested in public infrastructure, the transformation of the region’s infrastructure acts as a catalyst, stimulating spending, shopping, and investment by the public. “With a stronger cash flow, people tend to spend more,” says PGS. TS Nguyễn Hữu Huân, from the Ho Chi Minh City University of Economics. Projects located in well-developed infrastructure areas are expected to benefit greatly, with communities flocking to these areas. Investors are also quick to recognize the opportunities, eagerly awaiting breakthroughs in real estate value by 2025 – 2026, when the Vành đai 3 will be operational.
Among the prime projects in this infrastructure zone, Vinhomes Grand Park stands out as it offers residents numerous benefits. By providing convenient access to the city center, the Vành đai 3 allows residents to move around more easily. It also improves connectivity between the urban areas and satellite towns in the Southeast Region, facilitating commuting and significantly reducing travel distances.
With the completion of the Vành đai 3, the economic landscape at Vinhomes Grand Park will undergo a total transformation, benefiting from enhanced regional connectivity. Residents from the northern and western parts of Ho Chi Minh City can effortlessly reach the metropolitan area via this route. The increasing number of potential clients, coupled with the vibrant and dynamic lifestyle already present in the city, offers superior business opportunities and diversified industries and services. Experts predict that the project will lead to a significant economic development leap.
Furthermore, the upcoming operation of the urban Metro rail system, Metro Bến Thành – Suối Tiên, will further elevate the development of the urban space and provide an additional transportation mode that connects the city center to the eastern gateway. The Metro will facilitate the swift movement of millions of people from the central area to the High-Tech Zone of Ho Chi Minh City, the National University of Ho Chi Minh City, and Vinhomes Grand Park.
Recently, the Long Đại bridge was inaugurated, providing a direct route from Vinhomes Grand Park to the central Thủ Thiêm area and District 1. This bridge expands options and shortens the distance between residents and the highways leading to the provinces in the Southeast Region.
The simultaneous injection of funds into infrastructure development in East Ho Chi Minh City is yielding visible benefits, particularly in projects situated at the core of this infrastructure transformation, such as Vinhomes Grand Park. This signals an opportune time for residents and investors to confidently invest in the real estate market, which has experienced significant growth.