The real estate market is showing many positive signals from policies, real estate businesses are focusing on promoting project progress, taking advantage of favorable conditions in the last months of the year to accelerate sales.
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| Aqua City project is completing apartments, landscape, internal and external facilities. |
Restart the project, speed up the release
Although the peak summer tourist season is about to end, Novaland Group's NovaWorld Phan Thiet Project (Binh Thuan Province) still welcomes thousands of visitors every day. According to statistics, in June and July 2024, more than 800,000 visitors came to NovaWorld Phan Thiet to have fun, visit, and stay during the Summer Fest festival series.
This is a positive signal to realize NovaWorld Phan Thiet's goal of welcoming 5 million visitors in 2024, contributing significantly to Binh Thuan's goal of welcoming 9.5 million tourists.
In addition to efforts to complete entertainment zones to welcome visitors, Novaland also plans to restart some zones and complete sold products for early handover to customers.
A representative of Novaland Group said that the project has completed the detailed planning of 1/500. Currently, new laws related to real estate have come into effect, the enterprise expects to soon determine specific land prices as a basis for calculating land rent, to proceed with the completion of construction and handover of 820 products to residents, in parallel with the completion and operation of a new chain of utilities, in a total of nearly 40 entertainment and park categories...
Dat Xanh Services assesses that after the run-up and accumulation phase, investors with good resources are preparing to enter the acceleration phase to capture market share in the new cycle.
Similarly, at the NovaWorld Ho Tram Project (Ba Ria - Vung Tau province), 381 products in the phases of The Tropicana and Wonderland have been handed over to customers and put into operation for lease with an occupancy rate of about 50% on weekdays and 90% on weekends. From now until the end of 2024, the phases of Habana Island, The Tropicana, Binh Chau Onsen... will continue to be built in series and hand over 243 products.
The Aqua City project in Dong Nai province is also making strong progress. It is expected that in August 2024, the local adjustment of the general planning of Bien Hoa City, Zone C4 and part of the urban area west of Bien Hoa - Vung Tau Expressway will be completed. In September 2024, Cu Lao Phuoc Hung Commercial Service Urban Area will restart leveling and construction of technical infrastructure when the planning steps are completed. To date, the project has handed over 516 products in the subdivisions. Other subdivisions are continuing to be completed and are expected to hand over 891 more products by the end of 2024.
According to the reporter of Investment Newspaper, in the context of the real estate market having many positive signals from policies and anticipating a new growth cycle, many businesses are making efforts to complete legal procedures and implement projects.
Mr. Nguyen Van Dat, Chairman of Phat Dat Real Estate Development Company, said that the Company has just been assigned an additional 15.8 hectares of land in Bac Ha Thanh Urban Area in Binh Dinh Province. Thus, up to now, this project has been assigned 90% of the land. After calculating the land use fee, the Company will complete the construction to be eligible to open the sale of Bac Ha Thanh Urban Area Project in September.
With the Thuan An project in Binh Duong province, Phat Dat will complete land use fee calculation in October 2024 and will be eligible for sale in November 2024. These two projects can bring in nearly VND 20,000 billion in revenue for the Company.
In addition, Mr. Dat revealed that Phat Dat is focusing on completing the legal procedures for another project in Ba Ria - Vung Tau province, expected to record revenue of about 15,000 billion VND.
Not standing aside, Thang Long Real Group is also focusing on promoting the Fiato Uptown Project (Thu Duc City, Ho Chi Minh City) and Fiato Airport City (Nhon Trach, Dong Nai).
In particular, the Fiato Airport City project is accelerating the construction progress of the pile foundation and planning to open for sale in the fourth quarter of this year, targeting customers living and working in Nhon Trach such as foreign experts, senior managers, business owners, personnel in the aviation industry (serving Long Thanh airport) or cash flow real estate investors.
Planning for the new phase
Besides businesses that are trying to maintain the pace of construction sites and launch new projects, some other businesses, after achieving certain results from the restructuring phase, are also starting to plan to return to the market.
One of them is Hung Thinh Corporation. At the end of July 2024, this enterprise announced a new brand identity. The enterprise representative said that the construction of a new brand identity marks a step forward in the comprehensive restructuring roadmap of Hung Thinh Corporation. This is also a commitment to the goal of helping the Group overcome difficulties, stabilize operations, and complete projects, ensuring the interests of customers, residents, and investors.
Although no detailed plans regarding the implementation of the projects have been announced yet, Hung Thinh has previously proposed to the People's Committee of Khanh Hoa province to implement a new urban area project in Vinh Phuong commune (Nha Trang city) with a scale of about 368 hectares and a new urban area project in Van Phong Economic Zone, with a scale of about 575 hectares.
According to the Ministry of Construction's assessment, in the first half of 2024, the performance of real estate businesses improved, as the number of newly registered businesses and the number of businesses returning to operation both increased compared to the same period in 2023.
In particular, many businesses are planning to expand their land fund for project development to prepare for the real estate industry’s acceleration phase. In particular, legality, liquidity, land use fees, etc. are the top criteria that businesses choose to invest in.
In addition, businesses operating in the field of office and resort leasing are also aiming for land funds suitable for their business fields in the coming time.
However, the Ministry of Construction recommends that businesses need to be more serious and calculate more carefully about their plans, research the market, choose clean land projects with complete legal aspects, and pay full land use fees so that they can be put into operation in the coming years.
Source: https://baodautu.vn/batdongsan/doanh-nghiep-dia-oc-dua-chay-nuoc-rut-cuoi-nam-d223002.html
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