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Phu Quoc and the non-tariff area

Posted by Khoi Pham on March 21, 2021

2021 is “the year of Phu Quoc” with a series of good news as following:

Mr. Johnathan Hanh Nguyen finalized the construction of non-tariff area of ​​nearly 7,000 billion VND

Phu Quoc non-tariff area project (Kien Giang) will have an area of ​​101 hectares with a total investment of nearly 7,000 billion VND, including discount sales centers, duty-free supermarkets, duty-free shops…

The Imex Pan Pacific Group (IPPG) said it was chosen by the People’s Committee of Kien Giang province to be the key developer of many projects in Phu Quoc city. In which, the Provincial People’s Committee has approved and selected IPPG as the developer to implement the construction project of Phu Quoc non-tariff area.

The project has a scale of 101 hectares with a total investment of VND 6,830 billion, including 12 main items, the non-tariff area and the commercial and service area outside the non-tariff area.

Specifically, the project will include a discount sales center (Factory Outlets), a duty-free supermarket, duty-free shops, commercial food services (F&B), entertainment areas, classes items and other infrastructure…

According to the management of IPPG, Factory Outlets is a business model that has successfully developed in the US, Europe, Korea, and Japan .. IPPG has the advantage of holding exclusively over 100 international brands and is capable of operating this shopping mall with an open space and diversity of goods.

Upon completion, Factory Outlets will be an attraction for local and foreign tourists to Phu Quoc, similar to those in famous tourist cities in the world.

The Phu Quoc (Kien Giang) non-tariff zone construction investment project of Mr. Johnathan Hanh Nguyen is expected to have a total investment of VND 6,830 billion. Photo: Hai An

To support the project construction, Kien Giang province said it has directed departments and Phu Quoc city to speed up the handover of the site to the investor to start construction.

In addition to the above duty-free sales area project, Mr. Johnathan Hanh Nguyen also proposes to invest in a number of large projects, in accordance with the existing characteristics of Phu Quoc such as a complex commercial airport city, logistics, warehouses…

“If approved for the investment policy, these will be projects exploiting the potential of combining tourism, commerce and services of Phu Quoc, increasing the scale and professionalism of the tourism industry”, Mr. Johnathan Hanh Nguyen shared.

In addition to Kien Giang, the “king of luxury” consortium is also proposing to invest in similar projects in both Da Nang and Khanh Hoa.

Previously, IPPG also signed a business cooperation agreement with Lotte Duty Free to develop a chain of duty-free shops down the street (downtown duty free) instead of at the current airports.

Accordingly, the first duty-free shop down the street in Hanoi will be opened on the 6th floor of Trang Tien Plaza, expected to start operating in the end of the second quarter and the beginning of the third quarter of 2021.

After Hanoi, IPPG is also deploying another downtown duty-free store in Da Nang.

Adjusting the road construction investment project in Bai Truong area, Phu Quoc city

100% of members of the People’s Council of Kien Giang province voted to approve the draft Resolution. Photo: PV

The central road and branch road construction investment project (referred to as the project) initially had a total investment of VND 1,495 billion from the central budget capital, in the 2016-2020 period. However, the implementation process was slower than planned due to the difficulty of capital in the medium-term public investment plan.

Through the proposal of the People’s Committee of Phu Quoc city, the project has adjustments in capital source and implementation time. The investor is the People’s Committee of Phu Quoc city, the total adjusted investment project is 1,312 billion dong, down 183 billion dong from the original level. In which, the adjustment of capital from the central budget initially is 1,495 billion dong, down to 830 billion dong, the rest is the provincial budget of 275 billion dong, Phu Quoc city budget 207 billion dong. Total investment scale of 8,783.24m in total length divided into 2 phases of implementation, adjusting project time to 2023.

It is known that this is a group B project, the People’s Council of Kien Giang province is the decision-making level for investment policy, the Phu Quoc Economic Zone Authority is the decision-making level for the project. The Provincial People’s Committee submitted the draft resolution to the People’s Council of the province for consideration and adjustment.

On the 2021 real estate investment map, Phu Quoc continues to be the most intense attraction. Capital flows in particular tend to shift to high-end green urban housing

Vietnam Real Estate Association: Phu Quoc land prices will increase by 10%

Quarter 4/2020 market report released by the Vietnam Real Estate Association (VNREA): in 2021, real estate prices in some provinces are likely to increase by 5-7% compared to 2020. The young city, Phu Quoc, is in the group with the highest price increase: over 10%. Also according to VNREA, Phu Quoc is generating strong interest from the investors, in which urban real estate is gradually becoming the focus, especially projects that have been issued red books for free hold ownership.

According to Dr. Nguyen Van Dinh, deputy general secretary of the Vietnam Real Estate Association, going to the city creates a great push, Phu Quoc will have a special mechanism. Urban planning will be more complete and with more modern infrastructure investments. The Phu Quoc market is also recording the emergence of high-end housing products. This not only creates excitement for the market but also brings many opportunities for investors.

Sharing the same judgment with the Deputy Secretary General of the Vietnam Real Estate Association, experts all believe that Phu Quoc is a bright investment market. However, the “taste” of investment will change. Recently, at the seminar “Phu Quoc Real Estate Investment 2021”, financial expert, Dr. Nguyen Tri Hieu commented: “Phu Quoc city will have more budget for infrastructure development to match its position. Along with that, there are policies to attract investment and to attract talented people. Many people will choose Phu Quoc as a place to live, grow businesses or even a resort place when they retire…

“The new Phu Quoc city plan will welcome tens of thousands of migrants from the mainland to the island. In particular, the increase is mainly mechanical with a large amount of high-quality personnel, foreign experts working in projects on the island. This will be an attractive opportunity for a profitable investment”, Mr. Hieu affirmed.

Agreeing with this point of view, Mr. Pham Thanh Hung, Vice Chairman of Vietnam Real Estate Club, said that the population growth rate will create an attraction for Phu Quoc market. However, it is not easy to meet the practical needs of living of high-quality residents, because the golden land fund on the island is about to run out and the construction of a standard living space is not easy. Phu Quoc needs breakthrough thinking from new models and products.

Phu Quoc high-class green urban area is becoming the focus of investment attraction (Meyhomes Capital Phu Quoc)

New opportunities from the young city

Field surveys from Phu Quoc show that the whole island has 2 urban projects under construction. The project with the largest scale is the urban area of Meyhomes Capital Phu Quoc (nearly 300ha) invested and developed by Tan A Dai Thanh Group, located in the center of An Thoi ward (one of the first two wards and the center of the Phu Quoc city) and located on Bai Truong (the most beautiful beach in Phu Quoc).

The project is 15 minutes away from Phu Quoc airport and located on 2 arterial roads connecting the whole city: “a billion dollar road” along Bai Truong linking the project with a resort complex of more than 1,000 hectares. East Phu Quoc and Bao Street (on the road DT975) are called “the silk road” on the island with 4 lanes.

Meyhomes Capital Phu Quoc is honored by Dot Property as “Best Investment Project in Vietnam 2020

According to the representative of the developer, the metropolis Meyhomes Capital Phu Quoc is planned synchronously, with modern infrastructure by world-famous brands: Dark Horse (Australia); HBA, ONE Landscape (Hong Kong)… Not only bring a classy life, fresh living space with landscape facilities and green trees up to 65% of the area, the project is also equipped with pure water purification solutions. International standards of the brand ChungHo Nais – Korea help residents drink clean water directly at the tap. All villas, shophouse and mini hotel are issued with free-hold ownership.

With the position of the new economic, cultural and administrative capital of Phu Quoc, the metropolis Meyhomes Capital Phu Quoc will be a complete “piece” for residents and smart investors.

Mr. Andrew R. Frost – Director of DarkHorse Architecture gave a presentation about the project

With a scale of nearly 300 hectares and only 15 minutes from the airport, Meyhomes Capital Phu Quoc will be the largest urban area in Phu Quoc, extending from the East (Bai Sao) to the West (Bai Truong). Going through the project are the most important transportation routes in Phu Quoc. The North-South axis includes 4 routes: DT 46 (Nguyen Van Cu Avenue), DT 975 (Bao Street, “Silk Road on the island”), Tran Hung Dao street (the western tourist road) and the “billion dollar road” connecting all the 1,000-hectare international tourist resort complex in Bai Truong. The East-West traffic axis is planned to connect Bai Truong with Vinh Dam port.

Mr. Bui Duc Anh – Project business director at Tan A Dai Thanh Group

As the core urban center of An Thoi ward (the new economic development center of Phu Quoc), Meyhomes Capital Phu Quoc is a complete urban complex. Along with the living space will be busy commercial streets, international schools, medical facilities… especially at the project, there will be high-rise buildings such as financial towers, offices for lease and center of training and supplying high-quality human resources, entertainment areas, golf courses… The project has a green coverage of up to 60%.

General planning of Meyhomes Capital Phu Quoc

In the near future, if the southernmost tip of An Thoi ward (Hon Thom) is an entertainment center with billion-dollar projects, from the core center to the north of An Thoi ward will be a vibrant economic center in the great urban area Meyhomes Capital Phu Quoc.

Towards the opening of 16 model houses, Meyhomes Capital Phu Quoc Urban Area is applying an attractive sales policy:

  • Bonus 02 SJC gold pieces when signing the SPA
  • Lucky Draw: 01 Mercedes C180 and 06 Honda SH 150I
  • A set of jewelry, 100 million VND
  • Tan A Dai Thanh water solution set, 250 million VND
  • Discount 8%, direct to the price
  • Discount 1% for customers buying more than 1 unit
  • Free management fee for 02 years from the time of handing over

Price of some outstanding units in the Aqua phase of Meyhomes Capital Phu Quoc:

Price list and location of reference units at Meyhomes Capital Phu Quoc

Contact Realtique fast for more information of the project and to grab your chance to invest in this decent project:

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