Notable Movements in the Beginning of the 2nd Quarter, 2022
In the beginning of the second quarter of 2022, let’s take a look at notable movements in the real estate market, as well as updates on key infrastructure projects.
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KEY PROJECTS & INFRASTRUCTURE UPDATES
Groundbreaking Ceremony of The Sun Tower – New Symbol of the City At Grand Marina, Saigon
On late March, 2022, Masterise Homes officially commenced the construction of The Sun Tower. This event marks the launch of the office and commercial landmark of Grand Marina, Saigon masterplan – the world’s largest Marriott branded residences.
Located in the heart of the CBD with excellent connectivity and iconic design, The Sun Tower is expected to be the hub of these expats, multinational corporations, and global companies and become exemplary for future grade A office and retail space in Vietnam.
The Sun Tower at Grand Marina, Saigon
Construction of Vietnam’s biggest airport reaches passenger terminal phase
After more than a month of leveling ground for the Long Thanh airport project, contractors have progressed on to the passenger terminal.
The project’s investor, the Airports Corporation of Vietnam (ACV), started work on the terminal. The phase will start with the foundation work, which will see contractors build nearly 1,600 bored piles with a diameter of 0.8-1.2 meters each. As scheduled, the pile installation must be completed for the construction of the terminal in October.
Long Thanh International Airport Construction
Lai Xuan Thanh, ACV chairman, said moving to the stage of building the passenger terminal will create a boost for the construction of Long Thanh to meet its schedule.
Long Thanh in southern Dong Nai Province will replace Ho Chi Minh City’s Tan Son Nhat to become the biggest airport in Vietnam once completed.
Estimated to cost $16 billion in total, the airport will have an annual capacity of 100 million passengers and five million tons of cargo.
The first phase is set to be up and running in 2025 to serve 25 million passengers per year. The original deadline for its opening was December 2025, but Lai Xuan Thanh, ACV’s chairman, said in January that the work will be completed six months ahead of schedule.
The shape of the intersection of nearly 160 Million USD in the East of Ho Chi Minh City
An Phu intersection consists of 3 levels, with an investment of nearly 160 Million USD, designed in a modern direction with the highlight of the iconic tower.
An Phu Intersection
With the first quarter of 2022 having a good growth momentum, the second quarter of 2022 with quality real estate projects, public disbursement packages and important infrastructure upgrades will continue to create momentum for growth and strong recovery, towards big goals planned for this year.
Realtique Co., LTD