Bắc Ninh Property Awaits Momentum from Infrastructure and Foreign Capital. What Does Hồng Hạc City Gain from This?
Anticipating the economic momentum of the north: the emergence of a new “industrial capital”
The merger of Bắc Ninh and Bắc Giang provinces has formed a new province with an area of more than 4,700 km2 and a population of over 3.6 million. This is not only a geographical expansion but also a convergence of economic strength, placing the new province among the leading localities in the country, with combined gross regional domestic product (GRDP) of about VND 440,000 billion in 2024.
Before the merger, Bắc Giang led the country in GRDP growth in the first six months (14.1%), while Bắc Ninh recorded 9.18%. After the merger, the new province has risen into the top 5 localities with double-digit GRDP growth. The economic structure is strongly concentrated in industry and construction, accounting for about 69% of GRDP, making it the largest industrial capital in the north and the leader in the Red River Delta.
The Enormous Pull of FDI and High-Tech Industry
The new province’s greatest competitive advantage is its ability to attract foreign direct investment (FDI). The new Bắc Ninh province holds total FDI of up to USD 44.5 billion, accounting for nearly 20% of the country’s total FDI.
The merger creates favourable conditions for developing a parallel electronics manufacturing and supporting industry chain, enhancing competitiveness. This is an opportunity for the new province to develop into an industrial “super-province”, reinforcing its role as the “industrial capital” of the key economic region. At present, the two localities have 32 industrial parks with an occupancy rate of over 60%, and several industrial parks in Bắc Giang have even reached 100% occupancy.
Synchronised infrastructure as a lever: raising cross-regional property values
Economic development alongside the completion of synchronised transport infrastructure is the key factor driving the property market.
The Gateway Role and Key Transport Network
The new province is identified as a strategic geographical, economic and technological mainstay for the capital Hanoi, situated on the important Hanoi – Hai Phong – Quang Ninh economic development axis. Under the Hanoi Capital Region Plan to 2030, with a vision to 2050, Bắc Ninh is identified as one of the important satellite cities.
The inter-regional transport network is increasingly complete, including:
- The Ring Road 4 project in the capital region has been directed to be completed before 31/12, up to 2 years ahead of the original schedule.
- Gia Binh Airport (4E class) is being built rapidly, expected to strengthen connectivity, serve freight transport and attract investment.
- Many other major transport projects are also under development, including the Nội Bài – Bắc Ninh – Hạ Long Expressway (CT09), the Nhổn – Hà Nội Railway Station metro line extended to Bắc Ninh, Vân Hà Bridge, and Kênh Vàng Bridge.
These transport routes will significantly shorten interprovincial travel times while increasing property values along them.
DEMAND FOR HIGH-QUALITY HOUSING FOR PROFESSIONALS
The economic momentum, accompanied by growth in the high-quality workforce and foreign professionals, has led to an urgent need for housing.
High-Quality Human Resources and Foreign Professionals
Following the merger, the province has a substantial workforce of nearly 615,000 people working in industrial parks and businesses, including nearly 23,000 foreign nationals. This increase not only supports training strategies but also places significant pressure on the property market.
Experts believe that the arrival of high-quality workers and foreign professionals in Bắc Ninh will drive demand for services and residential properties with higher standards.
Bắc Ninh Faces a Shortage of Supply and International Living Standards
However, the housing supply in Bắc Ninh is currently insufficient and unbalanced compared with the pace of development of its factories and industrial parks. In particular, housing for professionals, especially foreign nationals, remains limited and has yet to meet international living standards, despite the province ranking among the top 5 nationwide in terms of the number of foreign professionals.
Mr Trương Quốc Hưng, Deputy General Director of Phú Mỹ Hưng, stated that the Bắc Ninh market has strong demand but a limited supply of high-quality residential properties, unlike Hà Nội and Hồ Chí Minh City.
This is an opportunity to promote modern new urban areas with fully integrated services, amenities, security and protection, and well-planned development.
HỒNG HẠC CITY: THE PROJECT AFFIRMING PHÚ MỸ HƯNG’S POSITION
In response to the urgent demand for high-quality housing, the developer Phú Mỹ Hưng has chosen Bắc Ninh as the destination for its expansion northwards. The Hồng Hạc City project was launched as an ideal solution, meeting the international living standards currently lacking in the market.
Strategic Position and Scale of the Hồng Hạc City Project
- Location: The Hồng Hạc City project is located in Song Liễu Ward, Bắc Ninh Province
- Scale: Nearly 197.76 ha, with an investment capital of approximately 1.1 billion USD.
“All in One” Integrated Eco-Urban Model
Hồng Hạc City is planned as a self-contained eco-urban area. According to expert forecasts, the development trend for Bắc Ninh’s property market will be the construction of modern, self-contained residential areas with fully integrated services.
As a major developer, Phú Mỹ Hưng aims to provide a housing supply that meets the needs of the regional market. Hồng Hạc City is expected to become an “all in one” integrated urban area, with comprehensive services, amenities, and security and protection, contributing to a modern and ecological urban landscape.
The presence of Hồng Hạc City not only fills the “gap” in the supply of high-quality housing for foreign professionals, engineers and investors, but also demonstrates that industrial property is becoming increasingly aligned with land allocated for residential property, towards the sustainable development of the area.
Smart Investment in a New Growth Hub
Bắc Ninh’s emerging property market is poised for a double boost from massive FDI inflows and the accelerated development of inter-regional infrastructure. Demand for high-quality housing for 23,000 foreign experts is an undeniable driving force.
Hồng Hạc City Phú Mỹ Hưng is not merely a property development but a forward-looking project that is creating an international-standard living environment for the largest industrial centre in northern Vietnam. This is a golden opportunity for you to own an asset in an area on course to develop into an industrial “super-province”, where living standards and property values are enhanced by the convergence of knowledge, human resources and modern production centres.
Investing in Hồng Hạc City today means investing in the sustainable development of northern Vietnam’s industrial capital tomorrow.
View the Hong Hac City project at: https://phumyhungcenter.com/du-an/hong-hac-city-phu-my-hung/
PHU MY HUNG REAL ESTATE SALES CENTRE
Hotline: 0938 448 427
Website: phumyhungcenter.com
Address: 801 Nguyen Van Linh, Tan My Ward, Ho Chi Minh City
