First Island City of Vietnam: Phu Quoc and Top Property Recommendation
Phu Quoc officially has become the island city
Recently, the National Assembly Trade Committee has passed a resolution to establish Phu Quoc city. The resolution takes effect from 01/01/2021. Duong Dong and An Thoi are the first two wards and also the two central wards of the city. Thus, just over 5 years being recognized as Phu Quoc urban area class II, Phu Quoc has officially become the first island city of the country.
At this new position, Phu Quoc will be on the same level with other tourist cities in the region, and will be applied a new policy mechanism towards more dynamism. For real estate investors, Phu Quoc city makes the market picture clearer. They know for sure what a city will need and how will the urban space of Phu Quoc changed to make clearer judgement of the segments that will become a hot spot in the near future.
The first time to announce the planning of Bai Truong coastal tourist route
In October 2020, Phu Quoc announced for the first time of full and detailed 1/500 scale of the planning project of Bai Truong coastal tourist route. With a total length of the whole route up to 10.68 km, this will be the longest coastal promenade in Phu Quoc and also the longest compared to famous tourist cities in the country.
The plan includes the following items: 6m wide paved promenade (acting as an embankment, slopes toward the sea), a 66m wide coastal corridor (from the sea edge to the walkway). Row of trees on the road with 10m wide, art lighting system, marine park for entertainment activities like sea view, swimming, sports on the sand…
The coastal route of Bai Truong is an important driving force for real estate in the area
VND 17,000 billion will be invested in infrastructure
The important information is the People’s Council of Phu Quoc has recently approved a medium-term public investment plan for the period of 2021 – 2025. More than 17,000 billion VND will be invested in traffic infrastructure such as Tran Hung Dao street, the west coastal road, the central roads of Duong Dong, An Thoi and the key works such as: freshwater regulating lake, resettlement projects…
Urban picture of Phu Quoc will have a new look (3D photo of Meyhomes Capital Phu Quoc)
Infrastructure development has created leverage to attract investment. By the end of 2019, Phu Quoc has attracted 265 large projects with a total investment capital of 16.7 billion USD. Vietnam’s leading real estate groups and world-class resort brands also present. Foreign investment currently has 22 FDI projects with a total capital of 282 million USD.
In 2020, Kien Giang attracts 23 projects with a total investment of more than 20,493 billion VND. Phu Quoc alone has up to 20 projects. The most typical is the 101ha non-tariff area, with a total investment of VND 6,830 billion. Previously, the casino allowing Vietnamese to play was officially opened.
Expanding air and sea connections
In July, three airlines simultaneously opened new routes to Phu Quoc. Vietnam Airlines with Da Lat – Phu Quoc, Bamboo Airways with Thanh Hoa – Phu Quoc and Vietjet Air with Da Nang – Phu Quoc. Thus, Phu Quoc has 9 domestic routes to and from Ho Chi Minh, Hanoi, Da Nang, Can Tho, Hai Phong, Van Don, Vinh, Thanh Hoa and Da Lat.
In July 2020, Phu Quoc also adds a tourist boat route Ca Mau – Nam Du – Phu Quoc. Thus, there are 3 sea routes connecting Phu Quoc with the mainland from Ha Tien, Rach Gia and Ca Mau. During the year, the Phu Quoc – Nam Du luxury sea tourism route is also opened.
Foreigners can stay with VISA up to 10 years
With ideal living conditions, favorable nature, open policy mechanisms, Phu Quoc is in the plan to expand the operating area of many business owners and investors. It is expected that by 2030, there will be more than 18,000 people from the mainland to the island to settle down. Among them are many high-quality personnel, domestic and foreign experts. This number is expected to increase as Phu Quoc applies a visa-free mechanism for foreigners (staying up to 30 days), especially staying up to 10 years if foreign investors have contributed capital from 100 billion VND or more.
The emergence of urban projects
Previously, the real estate market in Phu Quoc is mainly resort products. The year 2020 marks a rather unexpected shift with the emergence of high-end urban cities. These are the projects that welcome the new investment trend when Phu Quoc comes to the city. On the other hand, the consecutive rapid economic growth in recent years inevitably leads to the demand for urban space. Many experts say that in the near future, Phu Quoc will lack high-end urban space. Statistics show that Phu Quoc currently has 25 urban projects registered for investment, of which 3 projects are under construction. Meyhomes Capital Phu Quoc is one of them.
Meyhomes Capital Phu Quoc
The project has a scale of 56.09 hectares, located at the central core of An Thoi – one of the first two wards of the island city, modern planning, synchronous infrastructure, equipped with pure water purification solutions and solar power system. International standards of the consortium: Tan A Dai Thanh Group – ChungHo Nais Korea. According to the plan, the location of Meyhomes Capital Phu Quoc will be a new economic, cultural and financial center in the South of the island.
With strong development potential and positive movements over the past time, Phu Quoc is ready to become a city worth living in the region. The new investment wave is also preparing to strongly target this market.
Tan A Dai Thanh: Choosing the pearl island for its first real estate project
In April 2019, Tan A Dai Thanh Group officially introduced the Meyland Real Estate brand, with the strategy of building resorts and urban areas using modern technology platforms of the industrial revolution 4.0.
In the first project, Meyland cooperates with water treatment giant ChungHo Nais (Korea). Accordingly, ChungHo Nais has consulted and deployed a clean drinking water system at the tap and accompanied Meyland in the development of a smart, ecological urban area following the model of Korea called Meyhomes Capital Phu Quoc.
Meyhomes Capital Phu Quoc
The project has a scale of 56.09 hectares, construction density is only 35%, including 5 subdivisions. Instead of investing in resort real estate like many other businesses, Meyland said it would develop the urban project Meyhomes Capital Phu Quoc into a “colorful tropical island city”.
With a prime location only 150m from Bai Truong. In addition, the project is also adjacent to the arterial connections of Phu Quoc such as:
- Road 975, the axis connecting the artery between the North and the South of the island
- Bai Truong inter-area road, also known as a billion-dollar road with a series of major resort brands such as Novotel Phu Quoc Resort, Intercontinental Phu Quoc Resort, Park Hyatt Phu Quoc…
- Coastal route of Bai Truong with the planning includes: 6m wide paved promenade (acting as an embankment, slopes toward the sea), a 66m wide coastal corridor (from the sea edge to the walkway). Row of trees on the road with 10m wide, art lighting system, marine park for entertainment activities like sea view, swimming, sports on the sand…
Project location and overview
Long Term Ownership:
As this is the first project developed by a national brand with more than 25 years of experience in the field of manufacturing and providing total solutions for water resources in Vietnam, clear legal is the top priority that the developer wants to hold firstly:
The project belongs to 6% of the rare long-term land fund of Phu Quoc Island.
Along with the rare long-term ownership of Phu Quoc (6%), Tan Tan Dai Thanh also works hard to cooperate with international organizations to join hands to build unique and irreplaceable highlights for the project, like:
- ChungHo – Korea: co-operation unit for smart water development
- Dark Horse Architecture – Australia: design, planning and architecture unit
- One Landscape Art Urbanism – Hong Kong: landscape design unit
- CBRE: the operation management unit
The project aims to create the most luxurious urban area in Phu Quoc, with a modern, 5-star system of utilities:
- 200m minimum access to 1 utility
- 8 Clubhouses modern 5-star class, area 2HA
- 2 complexes of commercial centers, office finance, luxury hotels, area of 4.5HA
- International school, 1.5HA area
Club Houses, Green Parks and other facilities at Meyhomes Capital Phu Quoc
With an extended payment schedule until the end of 2022, buyers can enjoy a discount of 8% on total price when the launch date at 23.01.2021 comes.
In addition, free of charge for management and operation services for 2 years from the date of handing over the house.
Unit types at Meyhomes Capital Phu Quoc. Hand-over conditions: Fully fitted outside, bare inside. Best for both retail (F&B, hospitalities businesses) and residential use
Project construction updates – Meyhomes Capital Phu Quoc
Vision of the developer, Tan A Dai Thanh
The launch of the next phase of Meyhomes Capital Phu Quoc is 23.01.2021, Contact Realtique fast for more information of the project and to grab your chance to invest in this decent project:
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