Improved services promote projects in the east of Hanoi

Vinhomes Riverside is a high-end project in the east of Hanoi_Photo: Bich Ngoc

Developments include Garden City, Berriver Long Bien, Vinhomes Riverside Hanoi, Gamuda City and Ecopark, sparking greater growth on the eastern bank of the Red River in recent years.

Located only some kilometres from the centre of Hanoi and connected by Thanh Tri, Vinh Tuy and Chuong Duong bridges, the area now has a very good infrastructure and growing popularity with developers. In addition to better housing stock, the area now boasts shopping centres, education and health services and entertainment.

Real estate expert Dang Hung Vo said that the area had managed to maintain its more rustic characteristics compared to other parts of Hanoi.

“Moreover, the east can be developed much more easily than the rest of the city as it’s on higher ground,” Vo said.

The east of Hanoi now is home to several completed villas and apartment projects, such as HUD’s Viet Hung new urban area, Viglacera Land Lam Vien and Dang Xa urban areas and Malaysia-backed Berjaya Berhad’s Hanoi Garden City. A little bit further, Vihajico’s 500ha Ecopark new urban area in Van Giang, Hung Yen province has also seen good progress.

According to Le Ngoc Quynh, director of the Nha Dat 24 Transaction Centre, sales of houses in the east of Hanoi have increased recently, particularly in projects near completion and in close proximity to the city centre.

In Gamuda City, the first phase of Gamuda Gardens, which was 364 terraced and semi-detached houses, saw houses handed over to owners last April. The second phase is now under construction.

Invested by giant property developer Vingroup, Vinhomes Riverside covers 183 hectares, and is being marketed as a new high-end residential area.

Hanoi Garden City developed by Malaysian backed Berjaya will be complete this year. The first phase of this project was finished with 148 apartments in 2012 and its second phase with 103 villas is nearing completion.

Other developments include Sai Dong new residential area over 42 hectares, Viet Hung with 302 hectares and Dang Xa with 30 hectares.

Apart from new residential areas, a range of other facilities are nearing completion, such as the Aeon Mall Him Lam. Located in Long Bien district, it is the Japanese developer’s first retail outlet in the north. Started in April 2014, the $200 million complex is earmarked for a late 2015 opening.

Located opposite Aeon, the 27-hole Long Bien golf course recently entered operation. These projects are now benefiting from better public facilities such as school, hospitals, trading and entertainment centres, which have made them more attractive and realistic propositions for home owners.

According to quarterly report from CBRE Vietnam, Gia Lam has dramatically benefited from improved public infrastructure with completed bridges and proposed metro-lines, boosting property prices by 2 to 9 per cent on-year.