Revealing the area that will benefit when the western city of the capital is formed

The push from the Western City is gradually forming

The western part of Hanoi is emerging as an area with strong development with well-planned urban areas, synchronous service and infrastructure systems. Therefore, in the Hanoi Capital Planning Project, period 2021 - 2030, vision to 2050, Hanoi City aims to build a western city with Hoa Lac urban area as the nerve center of science, education and high-tech engineering.

Accordingly, the Western city has an area of ​​about 251km2, with a population of about 1.2 million people by 2045. The Western city is formed on the basis of the satellite cities of Hoa Lac and Xuan Mai. The center of this area connects Hoa Lac and Xuan Mai via National Highway 21. The Western city is oriented to have 16 wards and 8 communes. This is the future center of science, technology and education and training of the Capital.

The Western City is divided into 3 specific areas including: Administrative - political - scientific and technological center (186ha), Cultural - sports - entertainment center (74ha), Education and training center - commercial and service office (100ha). In which, Hoa Lac area will be the nerve center of science and technology, training center, high-quality education. Xuan Mai area will be the center of education, research and educational support services such as startup center.

Western city will create a strong breakthrough for the West of the capital

Open highway connecting Hanoi center - Hoa Binh

On October 10, 2023, the Thang Long Avenue Expressway project connecting National Highway 21 to Hanoi - Hoa Binh Expressway with a total investment of VND 5,200 billion was officially started. With a total investment of VND 5,249 billion, the project is 6.7km long. After completion, the project will connect the center of Hanoi - Hoa Lac - Hoa Binh.

As expected, the project will be completed and put into use in 2026, helping to shorten travel time and solve many traffic obstacles between the center of Hanoi and the western region, completing traffic, developing the Hoa Lac satellite urban area and the western satellite urban chain.

Mr. Duong Duc Tuan - Vice Chairman of Hanoi People's Committee shared at the groundbreaking ceremony that the implementation of the above project is very urgent and important, aiming to implement the national and city's road traffic connection plans. After completion, the project will create momentum for the development of Hoa Lac satellite urban area and the western satellite urban chain; forming conditions to meet the traffic infrastructure of the western city in the future.

Thang Long Avenue project from National Highway 21 intersection to Hoa Lac - Hoa Binh expressway, 6.7km long

Hoa Binh real estate market accelerates

According to experts, in the next 5 years, the development of the real estate market will focus on the West after the hot period in the East in the period of 2020 - 2023. When the Western city is formed, it will create a turning point in growth for the West of Hanoi, especially the Hoa Binh area, which encompasses the West of Hanoi.

"When Hoa Lac is the center of the new city, Hoa Binh will also benefit greatly from its proximity, especially when Thang Long Avenue connects with the Hoa Binh - Hanoi expressway," said Mr. Nguyen Van Dinh, Vice President of the Vietnam Real Estate Association.

Practical observations show that Hoa Binh has a strategic location at the western gateway of Hanoi Capital. This is also a particularly important location, the center of trade between Hanoi and the Northwestern provinces. With this prime location, Hoa Binh becomes a transit area and a bridge for the uninterrupted circulation of goods between neighboring provinces.

The advantage of being adjacent to Hanoi City also opens up many opportunities for the Hoa Binh real estate market to develop strongly. The high land prices in Hanoi as well as the increasingly narrowing land fund have greatly benefited Hoa Binh. This has led to a strong rebound in the resort and residential real estate segments.

Assessing the Hoa Binh market, Mr. Vu Cuong Quyet - General Director of Dat Xanh Mien Bac said: "Hoa Binh real estate has strong growth momentum when Hoa Lac becomes the development center of the Western city. With large land fund, good prices and advantages in resort, urban areas in Hoa Binh will be the place to welcome the wave of high-quality housing search from foreign experts and intellectuals working in Hoa Lac high-tech zones".

According to Mr. Quyet, Hoa Binh used to be one of the four provinces with the strongest increase in real estate transactions in the Northern region in 2021. "When the Thang Long Highway opens to traffic on the Hanoi - Hoa Binh route, it will be an important driving force for real estate along this route to continue to increase in price. This will also be a factor attracting investors to this market," said Mr. Quyet.

Businesses are pouring investment into Hoa Binh.

In fact, Hoa Binh is converging the typical advantages of a real estate "lowland" when the price is still quite soft compared to other localities in the region. This is also the reason why businesses have continuously invested heavily in Hoa Binh in recent times. Among them, there are large-scale projects that have just entered the market such as Casa Del Rio of Trung Minh New Urban Area Company Limited. With a total area of ​​142 hectares, Casa Del Rio is ambitiously built by the investor as a miniature Europe in the majestic space of the Northwest mountains and forests, where a prosperous and prosperous community is created.

In addition, Sun Group is also rushing to implement at least 3 large projects in Hoa Binh. Big names such as Geleximco, T&T, Flamingo, Ecopark... are also not missing out on the "time" when they are constantly looking for investment opportunities in this market.

Assessing the prospects of Hoa Binh real estate, Vice President of Vietnam Real Estate Association Nguyen Van Dinh said that Hoa Binh is a rare province with a lot of potential, with great attraction causing land prices to increase sharply, but real estate prices are still considered a "lowland" - that is, investment prices are still at an extremely reasonable level, with great potential for investors to quickly invest at this time. Especially when this market has recently received special attention from many real estate giants and investors in Hanoi.

Source: https://www.congluan.vn/lo-dien-khu-vuc-se-huong-loi-lon-khi-thanh-pho-phia-tay-thu-do-hinh-thanh-post280397.html