FECON Invest started construction of Nam Thai Urban Area project in Pho Yen, Thai Nguyen
On June 9, 2024, in Pho Yen city, Thai Nguyen province, FECON Pho Yen Joint Stock Company (a member of FECON Investment Joint Stock Company - FECON Invest) started construction of Nam Thai Urban Area Project (area of 24.68 hectares) with a total investment of about 2,250 billion VND.
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| Delegates perform the project groundbreaking ceremony |
The project, whose commercial name is Square City Urban Area, is also the first project attracting non-budgetary investment capital to start construction in the 195-hectare Nam Thai Urban Area complex planned by Thai Nguyen to become a civilized and modern urban area, creating an important driving force for the locality to attract investment capital and promote socio-economic development.
Building a “Green – Modern – Smart – Technological – Livable Urban Area”
Square City Urban Area Project is located in a prime location of Pho Yen city (Thai Nguyen), connected to the regional traffic axis, connecting the provinces of Thai Nguyen - Vinh Phuc - Bac Giang - Tuyen Quang; Ring Road 5 of Hanoi Capital region, the routes are being upgraded and invested with a total value of thousands of billions of VND.
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| Location of Square City Urban Area |
In 2024, FECON's Board of Directors will focus maximum resources on implementing the Square City Pho Yen Urban Area Project to quickly qualify for sales, generate revenue and profit for FECON... 
Speech by Mr. Pham Viet Khoa, Chairman of FECON at the 2024 Annual General Meeting of Shareholders.
The Square City Urban Area Project with a scale of 24.68 hectares is invested in synchronously constructing technical infrastructure systems according to detailed planning projects with commercial construction areas, mixed-use commercial service apartments, adjacent residential land with 573 lots, with frontage adjacent to regional-level roads and above and main landscape roads... The total cost of project implementation is about 2,250 billion VND, implementation period from 2022 - 2026.
As the project investor, FECON Pho Yen (a member of FECON Invest) not only focuses on commercial projects but also harmoniously combines design elements such as green campus, internal walking paths, parking lots, etc. to create a friendly and safe living environment.
In the overall planning of the entire 195-hectare Nam Thai Urban Area of Thai Nguyen, the Square City Urban Area Project inherits the city's important utility complex such as air-conditioning lakes; other public works such as schools, hospitals, parks; especially adjacent to the square - where important cultural and social activities of Pho Yen city in the future often take place, a place that any real estate investor would want to own to enjoy the services and utilities of this ecosystem.
The investor's goal is to build Square City Urban Area into a Green - Modern - Smart - Technological - Most livable urban area in this area, as well as neighboring provinces.
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| Delegates attending the project groundbreaking ceremony took souvenir photos |
Promoting real estate development in Pho Yen city
The advantage of Pho Yen lies in its connecting location - the southern gateway of Thai Nguyen province, 56 km from Hanoi capital, 30 km from Noi Bai airport, 200 km from Hai Phong port, and convenient transportation on the Hanoi - Thai Nguyen highway.
Sharing the reason for choosing Pho Yen (Thai Nguyen) as the place to develop the project, Mr. Muon Van Chien, General Director of FECON Invest said: “Pho Yen is also a new city with great potential to attract investment capital from large corporations, especially corporations with foreign direct investment (FDI) capital, with the highlight being the Samsung Factory in Yen Binh Industrial Park, thereby promoting real estate development in the region. Accompanying investors and businesses, Pho Yen creates a favorable and friendly investment environment, especially for large investors with financial capacity, brand reputation, influence, and methodical project development”.
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“FECON Invest is the pioneer investor in implementing the project in the 195-hectare Nam Thai Urban Area complex of Thai Nguyen to create a driving force to support the city in attracting investment. Not only bringing Pho Yen a new civilized and modern urban area on a busy boulevard, the Square City urban area project also contributes to creating a new administrative center of the city. With the desire to accompany Pho Yen in changing, meeting the needs of millions of people flocking to the industrial city every year, FECON Invest hopes that this will be the “piece” to elevate Pho Yen to become a new destination on the map of Vietnam”.
In particular, after receiving a strong wave of investment, Pho Yen is also focusing on upgrading infrastructure and transportation to create momentum for long-term development. In the period of 2021 - 2023 alone, the city has invested over 2,400 billion VND to implement 59 traffic infrastructure projects; attracting the development of 25 residential areas and urban areas with a budget of over 42,000 billion VND. This promising panorama opens up opportunities to attract cash flows from all over, not only in the industrial sector but also in the real estate sector.
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Through the methodical and solid steps of FECON Invest, the groundbreaking of Nam Thai Urban Area (area of 24.68 ha) at the present time is gradually realizing the strategy of making FECON Invest become the leading prestigious real estate investor in Vietnam, contributing greatly to the revenue of FECON Group.
The project will also be a notable highlight of the real estate market, contributing to completing the development picture of the new city of Pho Yen, soon making Pho Yen a type II urban area before 2025 and a type I urban area before 2030.
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