- With the advantage of human resources, investment capital, and experience in bidding and implementing key projects, over the past 10 years, Thien An has established a strong position in the real estate industry, contributing to many notable projects that have been recognized.
- Not only focusing on creating infrastructure values and developing commerce, Thien An also aims to enhance the quality of life and help address housing issues for the people through social housing projects. One of these is the Quang Chau Social Housing Project, with a total investment of nearly 700 billion VND.
- In August 2021, the Department of Planning and Investment of Bac Giang Province announced the list of projects utilizing land that required investor selection for the Quang Chau Social Housing Project for workers.
- The project is being implemented under the Housing Development Program of Bac Giang Province until 2030, which was approved by the Provincial People’s Committee in Decision No. 642/QD-UBND on July 21, 2020, and the scheme for developing social housing for workers in Bac Giang Province until 2025, with a vision toward 2030, approved by the Provincial People’s Committee in Decision No. 629/QD-UBND on June 24, 2020.
Market Characteristics
- Amid the wave of speculative land price increases in many localities, Bac Giang is still considered a potential market by investors, with the ability to become a bright spot as it asserts its position through a solid economic development foundation.
- Bac Giang’s economic growth rate consistently ranks among the top 10 in the country. Despite the difficulties caused by the pandemic, Bac Giang only took 2 years (from 2019 to 2020) to rise to the leading position in the country regarding economic growth.
- In the first six months of 2022, Bac Giang continued to record many positive signals, with a gross regional domestic product (GRDP) growth rate of 24%, the highest ever and ranking first in the country. It is projected that Bac Giang’s GDP will increase by 20% in 2022, and this growth trend could continue for 3-5 years.
- While the land fund in major cities like Hanoi and Ho Chi Minh City is becoming increasingly scarce and prices are being pushed up too high, potential urban areas like Bac Giang are expected to become fertile ground for investors.
- Notably, real estate in Bac Giang is currently within the planning of the Hanoi metropolitan area, allowing it to inherit many favorable conditions and advantages for economic, tourism, educational, and cultural development.
- According to various surveys, the rental prices for apartments in Bac Giang are quite competitive compared to other major cities. Specifically, a 2-bedroom apartment priced from 1.5 to 2 billion VND can be rented for 12 to 15 million VND per month, providing investors with a potential return rate of 10-12% per year. Therefore, this area presents an opportunity for early investors to take the lead.
- In the 8 industrial zones in Bac Giang province, there are 392 enterprises currently engaged in production and business activities, employing nearly 6,000 highly skilled foreign workers, including managers, executives, specialists, and engineers. This number is expected to increase by 4.5 times by 2030. This will provide a substantial customer base for rental real estate and social housing.
Project Information
Investment Objectives and Project Activities: The project aims to invest in the construction of a social housing area in Nam Ngan village, Quang Chau commune, gradually implementing the detailed planning of the social housing area for workers in Viet Yen district and the scheme for developing social housing for workers in Bac Giang province, as approved by the Provincial People’s Committee.
Legal Status: The project was approved by the People’s Committee of Bac Giang Province on November 3, 2021, through Decision No. 1194/QD-UBND.
Project Scale: The project is to be constructed on a land area of 2.69 hectares.
Number of Apartments: There will be 870 residential apartments with a total construction floor area of approximately 63,270 square meters, meeting the housing needs of about 2,944 workers employed in the surrounding industrial zones.
Construction Items: The project will include the following construction items: high-rise social housing; internal roads and sidewalks; landscape greenery; transportation systems and external technical infrastructure; and parking lots within the completed, synchronous project boundary.
Total Investment Capital: The total investment for the project is 696,560,353,000 VND.
Project Duration: The project will operate for 50 years from the date the competent authority approves the investment policy.
