Real estate investors optimistic after news about Tu Lien bridge

After the news that Vingroup sent a document to the Hanoi People's Committee proposing to build Tu Lien Bridge, investors began to think about a "rosy" future for the real estate market in Dong Anh district.

According to Mr. Hai Trieu, a long-time real estate investor, after the news that Vingroup proposed to invest in building Tu Lien bridge, the real estate market in Dong Anh district is likely to soon recover.

“The reason I used the word ‘return’ is because at the end of September 2024, the Hanoi Department of Transport denied the information that the city would build Tu Lien Bridge this year. This caused the market level to suddenly stagnate and investor sentiment to also decline,” Mr. Trieu shared with reporters of the Investment Electronic Newspaper - Baodautu.vn .

Tu Lien Bridge will be an important project contributing to connecting the metropolitan areas in Dong Anh district with the city center. Photo: Thanh Vu

This investor added that the current price of residential land plots on the street and near Tu Lien bridge is fluctuating between 150 - 180 million VND/m2. Meanwhile, land plots located in the alley where cars can park will cost around 90 - 100 million VND/m2. However, even when Tu Lien bridge received not so positive information, land prices showed no signs of decreasing.

“Investors who put money in Dong Anh all intend to ‘hold land’ for the long term, from 3 to 5 years, to wait for infrastructure development. In addition to the traffic projects expected to start construction such as Tu Lien Bridge and Tran Hung Dao Bridge, land prices here also benefit from major projects such as Vinhomes Co Loa, BRG’s smart city…”, Mr. Hai Trieu commented.

In a recent development, Dong Anh district has just welcomed another luxury apartment project. The expected apartment price offered by the investor is about 106 - 110 million VND/m2. Also in the urban area, many investors were "stunned" by the price of 274 million VND/m2 for a townhouse. Even single villas have a starting price of up to 636 million VND/m2.

Previously, some news channels reported that Hanoi would start construction of Tu Lien Bridge at the end of 2024. However, the Hanoi Department of Transport denied this and said that the project's progress is still in its early stages. It is expected that by the end of 2025 at the earliest, the project will complete all procedures and investment policies for construction.

The Department also emphasized that the city is focusing on the Ring Road 4 - Capital Region project, so the capital source for the Tu Lien Bridge investment has not yet been determined. In addition, after Typhoon Yagi, Hanoi also has to prioritize handling a series of weak and temporary bridge projects. Therefore, among the bridges across the Red River that are expected to start construction, the project that completes investment preparation first will be prioritized for implementation.

Currently, the Tu Lien bridge project is facing many difficult "problems", especially the volume of site clearance, which is expected to be very complicated and difficult, especially at the bridgehead area in Tay Ho district. At the same time, the construction is also related to ensuring the safety of the Red River dike. Therefore, specialized agencies are under great pressure to find technical solutions.

Tu Lien Bridge project is one of the key traffic projects of Hanoi City, included in the transportation planning until 2030, vision to 2050 approved by the Prime Minister. The total estimated investment of the project is 19,959 billion VND.

According to the design plan, Tu Lien Bridge has a main span across the Red River, connecting the west bank of the Red River along Au Co - Nghi Tam route in Yen Phu and Tu Lien wards (Tay Ho district) with the east bank of the Red River in Dong Anh district.

Source: https://baodautu.vn/batdongsan/nha-dau-tu-bat-dong-san-lac-quan-sau-tin-tuc-ve-cau-tu-lien-d227802.html