WHAT ARE THE CHANCES OF A BREAKTHROUGH IN THE PRICE OF PINK REAL ESTATE

The outstanding infrastructure breakthrough as Hai Phong is striving to fulfill the category I urban criteria in 2025 with the renovation project on both banks of the Tam Bac River will be the leverage to stimulate the real estate price of the Royal River City project. The “intrinsic” nature of the project in terms of quality, legality and progress at the initial stage is also the main factor contributing to the upward leverage of real estate products.

Hong Bang rushes to complete category I urban criteria in 2025

‍According to the draft plan file of Hai Phong City for the period 2021 - 2030, the vision to 2050, the city plans to build and develop Hong Bang district into a smart, civilized and modern district; the investment in the construction of the district until 2025 fulfills the urban criteria of type I. To achieve the goals set, Hong Bang is trying to accelerate the expansion of administrative boundaries and to accelerate the implementation of more key projects. Recently, Hai Phong City requested to complete the draft plan to expand the boundaries of Hong Bang District by 2025. In the goal of becoming a smart, civilized and modern district, Hong Bang also inaugurated the Hong Bang District Smart Operation Center, launching the “Hong Bang smart” application. This is an important base that changes the operating method from traditional to smart operating methods on the network environment. Besides, Hong Bang focuses on the implementation of a series of key projects with 11 modern urban areas, luxury apartment complexes, 5-star hotels, business centers, services and more. In parallel, the organization of walking streets, entertainment areas, Tam Bac - The Lung cuisine and Hoang Van Thu bridge park were completed.

The transportation infrastructure was also boosted with the route connecting the districts in the city, linking the prefecture-city while also heading towards major industrial parks and tourist sites of Hai Phong City. In the near future, Hong Bang is expected to build a road connecting with Thuy Nguyen district via Hoang Van Thu Bridge, and a line connecting with An Duong district by a bridge over the Ri River. Thus, only in the next 1-3 years, Hong Bang will see a noticeable change in the appearance of infrastructure. This is also the driving force behind the sharp rise in property prices in the region.

‍Completed renovation project on both banks of the Tam Bac River in 2024

‍According to the recent request of the People's Committee of Hai Phong City, the Tam Bac River renovation project phase 2, the section from Lac Long Bridge to Hoang Van Thu Bridge, will have to be completed urgently in 2024. The total investment level of the project at this stage is 577 billion VND. Phase 1 of the Tam Bac River beautification project was completed in 2021, with a total investment of more than 1500 billion VND.For the second phase of the project, the objectives were: Renovation and expansion of the Tam Bac River and the Forbidden River, Nguyen Thuong Hien Road in order to improve transport connectivity, contribute to the improvement of the transportation system of Hong Bang district in particular and the city in general.The completed project will contribute to the landscaping of the city in a bright - green - clean - beautiful direction connected with the downtown strip. Besides, the technical infrastructure, lighting power supply system, as well as environmental protection treatment, lake ecosystem, landscape trees also promote early completion. At the end of phase 2, in addition to expanding the banks of the Tam Bac River, beautifying the environment and landscape, the project will completely change the face of Hai Phong municipality. It is also a key project aimed at promoting Hong Bang economy, creating favorable conditions for developing tourism in the direction of exploiting heritage value, creating emphasis on architectural landscape, serving socio-economic development, contributing to building Hai Phong city into a smart, modern city.

Growth dynamics of Hong Bang real estate market

‍The breakthrough of infrastructure as the series of key transportation projects are accelerated in the near future will be a strong impetus for the Hong Bang real estate market. The potential of the real estate market has been noted in reports from real estate market research units when the district used to lead in terms of product absorption rates. However, this area is still considered a low price zone compared to some other central districts. Looking at the short and long term, a series of key urban and transport projects promoted will be a direct driving force on the price growth of Hong Bang real estate.

‍Royal River City enjoys full upward momentum

‍Just a few steps from the Tam Bac River, located in the heart of Hong Bang on Ha Ly Street, close to parks and ecological lakes, Royal River City also enjoys full price growth from the transformation of the future category 1 city - Hong Bang. Starting from a well-planned project, full legal and good product quality, Royal River City guarantees certainly all parameters of the real estate project are full of price hiccups in the future.In particular, looking at the construction progress, wise investors who invest money at this stage will Enjoying all stages of the apparent price increase of a project lifecycle. Currently, Royal River City has fundamentally perfected its internal transportation route system and connections to major major thoroughfares. In the last months of 2023, the project also urgently accelerates and completes the drainage and power supply construction system. It is expected that by early 2024, Royal River City will conduct testing of engineering infrastructure. By mid-2024, under the implementation plan, the project will complete the construction of the structure of housing products.” The “full convergence” of a quality product, located right in the region where there is a breakthrough, Royal River City enjoys the full momentum of “appreciation” from “internal” and that of the Hong Bang region rich in growth potential in the near future.