After 12 Years, How Is The Ring Road No.3?
The appearance of the ring roads strongly affect the real estate market, boosting the potential of Ho Chi Minh City – the most dynamic city in Vietnam.
However, ring road projects are being implemented intermittently with many sections are not closed because the construction progress is delayed due to funding sources and implementation mechanism.
After 12 years of planning, whether the Ring Road No.3 will be completed as scheduled?
Ring Road – The Backbone Of The City
Ring roads are the main roads that cover the corridors of major cities which connect large areas to other areas and cities nearby. In the city’s plan, the ring roads will connect with the internal roads by the highway system, creating a solid traffic framework.
The ring roads have the potential to promote the development of large industrial zones and create strong urban corridors. At the same time, it will expand the population density to the suburban area, reduce the pressure on the central area. Along with the development of ring road projects will be the development of residential areas, economic centers and urban areas associated with the project.
Planning of Ring Road projects 1,2,3 and 4 in Ho Chi Minh City
Great Vision About Ring Road No.3
Of the four ring road projects, only Ring Road 1 has been formed and put into operation. The remaining three projects are still unfinished, but the latest move of project No.3 is recreating expectations for investors.
The Ring Road No.3 is more than 90km long with a total capital exceeding VND 75,000 billion for Ho Chi Minh City, Binh Duong, Dong Nai and Long An to implement.
In September 2022, the Ring Road No.3 was restarted with the Project 1A Tan Van – Nhon Trach (8.7km in length) including Nhon Trach bridge and the road at both ends of the bridge with a total investment of VND 6,900 billion. Before that, only the 15km Tan Van – Binh Chuan section passing through Binh Duong province was completed and more than 76km could not be closed, mainly due to problems with site clearance, capital teams, investors…
The completed section of Tan Van – Binh Chuan (part of My Phuoc – Tan Van road), belonging to Ring Road No.3
Currently, localities are making full efforts to solve land compensation issues, recalculating costs so that in June 2023, the total construction of the No.3 project will be started which is expected to be completed in 2025-2026. It means that Ho Chi Minh City will basically complete the “backbone” system to continue developing urban corridors and industrial zones in the next 3 years.
Opportunity Returns to Investors
It is expected that the land fund adjacent to the Ring Road No.3 system will be focused on exploiting infrastructure to create resources for the area for reinvestment. Therefore, this area is forecasted to become a busy and bustling trading place in the future.
Up to now, there have been existing projects in the area directly connected to Ring Road No.3 such as The 9 Stellars, Vinhomes Grand Park, Dong Tang Long new city… These are projects that basically established a system of housing, utilities and roads and own a prime location that you should pay attention to.
- Project name: The Alpha Residence – The 9 Stellars
- Developer: Ngan Thanh & Sonkim Land
- Estimated price: From USD 4000/m2
- Status: Under construction, expected to be handed over in Q1/2026 (as soon as Ring Road 3 is completed)
- Project name: Vinhomes Grand Park
- Developer: Vinhomes under Vingroup
- Estimated price: From USD1800-3600/m2
- Status: Handing over phase 1 in 2020
Just keep the optimism that all projects that are being delayed will be completed, sooner or later and the Ring Road No.3 to finish on time, this is a GOLD OPPORTUNITY for wise investors.
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