VietNamNet Bridge - As the Nha Trang and Da Nang real estate markets in the central region have become more saturated, real estate developers are now looking for a new market. They are heading towards Binh Dinh.

In many areas in Binh Dinh province, especially along the route to Nhon Hoi Economic Zone, large resorts are under construction. Nhon Ly, where there is an FLC-invested tourism complex with a golf course, is one of the areas.

FLC is now building a zoo in Quy Nhon City (Safari). The project would connect with a complex of golf course, resorts and high-end villas in Nhon Ly commune. This is the largest infrastructure project for tourism development in the province, covering an area of 1,000 hectares.

Just eight kilometers from this, a series of high-end resort projects are being implemented, namely Casa Marina Island, Bai Xep International Beach Resort, An Phu Thinh Urban Area and Van Long Tourism Site.

As the Nha Trang and Da Nang real estate markets in the central region have become more saturated, real estate developers are now looking for a new market.

Unlike Nha Trang, Da Nang and Phu Quoc Island, which are seeing a supply boom, Quy Nhon City of Binh Dinh is still said to be a ‘potential market’. 

Nguyen Tri Hieu, a respected financial expert, said that in the central region, only Da Nang and Nha Trang are considered a ‘paradise’ that most attracts investments.

Da Nang is the ideal destination point thanks to its beautiful landscapes and good investment environment. Nha Trang shows great potential as the local authorities are drawing up development programs to create spaces for resort real estate.

Meanwhile, Binh Dinh, with Phu Yen and Ninh Thuan, is still in ‘hibernation’. Hieu said that the provinces have not developed transport infrastructure with regional connectivity, but just behave ‘every man for himself’. They call for investment for many projects, but lack reasonable policies to attract investors.

However, the expert predicted that once the land fund in tourism cities begins to shrink, an investment wave would head towards neighboring provinces. Binh Dinh is expected to become a magnet to attract investors.

Quy Nhon City, the metropolis of the province, is ready for this. Not only FLC, but many other big real estate developers are eyeing the market. 

A report shows that the provincial authorities have granted licenses to 21 projects this year with total investment capital of VND5.8 trillion, including 12 projects in the service, trade and real estate sectors. 

Nguyen Huu Tho, chair of the Vietnam Tourism Association, said the investment wave would help attract tourists, predicting that the real estate price in Quy Nhon would increase in the near future.


Thanh Lich