Hanoi is forming a new "center"

Formula 1 racing is scheduled to take place next year in Hanoi and perhaps it is no coincidence that My Dinh was chosen as the venue for the race. Over nearly two decades, My Dinh changed strongly, becoming the new "development pole" of the capital in the context of urban planning witnessed many changes.


Miniature city of the Capital


A former commune of Tu Liem and My Dinh districts, it is the place with the fastest urbanization rate in the country. Not surprisingly, more and more people mentioned My Dinh as a new administrative, commercial and entertainment center of Hanoi. This place is full of conditions and functions to become a miniature city of the Capital: Not overloaded like the central districts, not sparse like the gateway areas, infrastructure in the West of Hanoi. Fully, synchronously and methodically developed from transportation and services to utilities.


Transport infrastructure is the leading advantage of My Dinh area. Thanks to the system of roads that are invested, expanded, upgraded, and continuously improved with the small-planned network of small roads such as chess tables, the movement and connection to this area becomes extremely convenient. In addition to the arterial traffic routes Belt 3, Highway 32, Le Duc Tho, Me Tri, Tran Huu Duc, Nguyen Co Thach... My Dinh also has BRT fast bus and Nhon - Hanoi Railway Station on the elevated railway. run over. Therefore, although it is the area connecting key roads of the city, the traffic in My Dinh is relatively convenient, especially the roads Le Duc Tho, Ham Nghi, Tran Huu Duc,... There is almost no congestion.


In addition to connecting traffic, social infrastructure develops synchronously with a high quality and diverse service-utility system, which is the second factor to help My Dinh become a trade-service center, science-education of Hanoi. There are many hotels, shopping centers of The Garden, public health facilities such as Hospital 198, Vinmec International Hospital, Hong Ngoc General Hospital. International school system and international schools such as Winston International Preschool, Vietnam-Australia International School, American School Education System, Marie Curie School, Hanoi School - Amsterdam, Vietnam-Japan University, National University Family, University of Education, University of Commerce..., making My Dinh area more attractive.


In addition, My Dinh is emerging as the new vibrant cultural-entertainment center of the Capital. With My Dinh Stadium, Water Sports Palace, National Convention Center, and many 5-star hotels in the area such as JW Marriott Hanoi, InterContinental Hanoi Landmark, Crowne Plaza West Hanoi... USA Family is often chosen as the venue for many major cultural, sport and entertainment events such as AFF Cup, SEA Games, Formula 1 racing,... 


Although fully meeting the criteria of social infrastructure and technical infrastructure of the most modern urban area in the country, the interesting point is that the population density of My Dinh area is only 7,217 people/km2, ie only 1/5 the density of urban districts such as Dong Da, Hoan Kiem and Hai Ba Trung with the density of 40,331 people/km2, 29,470 people/km2 and 28,981 people/km2 respectively. (2017 Report of the Center for Promotion, Investment, Trade and Tourism, Hanoi People's Committee).


Therefore, residents living around this area also enjoy the fresh and airy living environment from a lot of public spaces, green trees, regulating lakes... Through big roads like Nguyen Co Thach, Le Duc Tho - Le Quang Dao, My Dinh district are small roads interspersed, sparse with cars and green trees.


"It is very proud and surprised to see the development of My Dinh, the urban form of Hanoi has also been replaced by new clothes, different from my home country 15 years ago. It is not exaggerating to compare the modern, large urban areas like Phu My Hung in Ho Chi Minh City with other developed countries in the region such as Singapore or South Korea. In the near future, we have absolutely a basis to believe that My Dinh will also become a modern and dynamic urban area like Phu My Hung” - Mr. Tran Lam, an Australian overseas Vietnamese guest price when returning to Vietnam looking for safe investment opportunities.


The wave shifted the center of the upper-middle class


With all the above advantages and the orientation to expand to the west according to the plan to 2030, with the vision of 2050, Hanoi is witnessing the wave of central shift to My Dinh area, especially the floor. Middle-upper class, forming here a modern, dynamic and civilized resident community.


Ms. Tran T. Mai, 35 years old, is currently HR Manager at a foreign corporation sharing: “My family has just moved to live in a high-class apartment building in My Dinh for nearly 1 year and I am extremely comical Please with your decision. In my opinion, it's time for people to redefine the central concept. The areas that are still considered the current center of Hanoi are probably just the center for tourists. As for residents in the city like us, we define the center according to other standards. The center for us is a place that can be conveniently connected to places to go to school, work, surrounded by basic utilities. My Dinh has full power of a miniature civilized city. Around us there are parks, supermarkets, international hospitals. My daughter is studying in Hanoi Amsterdam school, it only takes 10 'to go to school.”


My Dinh has full power of a miniature civilized city.


In the past few years, with the policy of "south direction" of multinational corporations in Northeast Asia region, My Dinh has also received a new group of residents, a wave of foreign businessmen and experts coming from Japan, Korea, Taiwan.


Mr. Nguyen Kien, a long-term real estate broker, said: “From the last 2 years, high-class apartments in this area have been more and more interested by investors due to ensuring the stability of price growth and profit from For foreigners to rent. ”The first 6 months of 2018 report of CBRE's Hanoi real estate market also pointed out that the west of Hanoi is the area with the highest rate of return for rental apartments, with 5.7%/year.


The entry of "big men"


"To witness the changes of My Dinh, it is only to understand the awakening and growth of this region and its impacts on the overall socio-economic development of Hanoi. The convergence of civilized and elite residents will form a booming urban area. In addition, the planning, architecture, urban infrastructure investment, the advantages of location, future economic development vision and friendly connection... all the above factors all are spreading to My Dinh area, opening up many opportunities, bringing great benefits that Hanoi people are the main beneficiaries”, Mr. Michael Piro, Indochina Capital CEO received determined.


My Dinh's willingness and potential demand have triggered a series of real estate projects in motion. Many big players in real estate industry have been and are going to quickly join here: Vingroup, FLC, Indochina Capital, Sunshine Group...


Thanks to the financial stature and the experience of developing many high-class urban areas of these big names, planning My Dinh area is developed in harmony with the overall and long-term vision. The projects that have been supplemented and built together make My Dinh the appearance of the most modeled city in Hanoi, in accordance with the lifestyle of a successful, modern and literate resident community.


The projects are planned, invested and developed in My Dinh area to support and respect each other, making this place the appearance of one of the most typical urban areas in Hanoi, in accordance with the lifestyle of a successful, modern and civilized resident community.

However, it can be easily seen that the investors of medium-high-end projects in this area such as Vinhomes Gardenia, Sunshine Center, FLC Green Apartment or Sky Park do not deploy too loudly. Explaining this phenomenon, Mr. Nguyen Kien said: “The absorption of projects in My Dinh is very good. The majority of professional investors and buyers who want to live have paid attention and sought information right away from the project. Therefore, developers in this area usually do not spend too much resources on marketing.


The wave of investment is flowing here, promising to create a new development period for the real estate market of "miniature city" My Dinh. This movement shows that the market is entering the first phase of the growth cycle. Therefore, at the moment, investors are holding prices at the "bottom". With a clear and certain price increase potential, only in the near future, investors will see the profit figures.


According to Batdongsan.com