The urban development process in Ho Chi Minh City in recent years has recorded positive growth. However, the speed of development of the city's transport infrastructure sometimes cannot quickly meet the needs of this rapidly increasing urban development.
For that reason, in recent times, Ho Chi Minh City as well as some neighboring localities have implemented many projects to improve regional connectivity. These projects are expected to promote the economic development of urban areas, indirectly creating momentum for the real estate market.
According to Dr. Su Ngoc Khuong, Senior Director of Savills Vietnam Investment Advisory Services, Ho Chi Minh City is actively investing in many inner-city transport infrastructure projects and regional connectivity projects. A typical project implemented to improve traffic in the city is Metro Line 1, which is expected to be put into commercial operation in July 2024.
Dr. Su Ngoc Khuong, Senior Director, Savills Vietnam.
This is an effort of Ho Chi Minh City and the Government over the past years to improve traffic jams and congestion in the city, thereby supporting economic and commercial activities and the quality of life of people in areas where the metro line passes through.
“However, the inner-city metro line cannot solve all of Ho Chi Minh City's traffic problems. The city also needs to pay attention to promoting more support projects for trade and logistics,” Dr. Khuong added.
This expert also believes that the expansion of the above-mentioned infrastructure and transportation projects will help speed up the formation of urban areas, thereby solving the housing problem for Ho Chi Minh City. People in real estate projects located on these traffic routes can have more convenience in living, studying and working in a city with a high population density like Ho Chi Minh City, especially the young people.
Regarding the manufacturing, trade and logistics sectors, Dr. Su Ngoc Khuong said that up to now, the connection between Ho Chi Minh City and the provinces in the Mekong Delta and the Southeast provinces has mainly relied on single roads, traditional national highways and is often overloaded.
The development of transport infrastructure is the driving force for the development of urban areas.
With the completion of the Ring Road 3 and Ring Road 4 projects in the future, inter-regional freight transport will be more convenient, thereby attracting investors, leading to demand for leasing industrial park real estate such as data centers, cold storage... and office rental demand.
In addition, Long Thanh Airport will become a transit point for these two belt routes. The combination of transport works will shorten time as well as save costs, thereby promoting the transport of goods from Vietnam to countries in the region.
Looking to the long-term future, Dr. Su Ngoc Khuong also said that Ho Chi Minh City and the Government need to focus on developing the railway system from now until 2050 to increase freight transport options and reduce pressure on road, waterway and air infrastructure.
Source
Comment (0)