Bac Ninh Real Estate Report November 2021 is a program to update real estate information in the Bac Ninh market. And to start the program, let’s review the main highlights in November 2021 in the Bac Ninh market
1.Bac Ninh president: “Tu Son city will develop greenery”
According to President of Bac Ninh province (Mrs. Nguyen Huong Giang), Tu Son city will focus on developing commerce, trading and craft villages by greenery and sustainable constructions.
The city will gradually improve the infrastructure system which focuses on construction investing, transport system expanding, residential area renovating and approaching to the urban planning standard before 2025. This is the foundation on becoming the earliest central of the province.
By 2025, Tu Son city will collect over 1,010 billion VND from state budget with an average annual growth rate of 4.5%. Budget expenditure reached over 615 billion VND with an average annual growth rate of 1.6% for infrastructure construction, environment protection and lifestyle improving.
Bac Ninh Statistics Department has recently mentioned that there are 108 new FDI projects for 10 months in 2021 with total registered capital of 535.6 million USD which grew by 50.8% over the same period last year.
Beside that, there are 76 projects adjusted to increase the capital to 132.4 million USD.
Also during this period, Bac Ninh withdrew 35 projects with the total investment capital of 233.4 million USD.
Experts of Savills Company showed that the segment of industrial real estate, ready-built factories is still the first choice for investors due to the increasing demand for high-quality factories and warehouses rents.
High rental price and shortage of industrial land in prime locations also contribute to increasing demand for ready-built factories rents.
The data of the General Statistics Office also show that the Gross Domestic Product (GDP) in all three quarters of 2021 increased by only 1.42% over the same period last year due to the prolonged blockdown across the country to prevent epidemics. This also leads to supply chain disruptions and plant shutdowns.
From now to 2035, Amkor Technology, Inc. will invest 1.6 billion USD in Bac Ninh to build a factory to manufacture, assemble and test semiconductor materials on an area of 23 hectares in Yen Phong II-C Industrial Area., belongs to infrastructure investor Viglacera.
In the first quarter of 2022, and the next five years, the company will invest $520 million focusing on providing advanced in-package system test and assembly solutions to electronics manufacturing and semiconductor companies.
This is a strategic, long-term investment in geographical diversification and plant capacity expansion, supporting the company’s commitment to reliable supply chain solutions for customers.
It is known that this is the largest goods sorting center in Southeast Asia of BEST.Inc group. When put into operation, this center is expected to create jobs for about 400 workers in the area.
With a maximum handling capacity of more than 1 million packages/day, Bac Ninh sorting center plays an important role in the goods sorting and coordination chain for BEST Express in Vietnam, significantly shortening sorting and shipping times for each parcel, bringing goods to customers faster and safer.
Accordingly, it is expected that in the 160-hectare urban area project that DIC is studying, there will be about 62 hectares of residential land and 15 hectares of commercial and service land, combined with parks and entertainment areas to form a Modern high-class urban area.
This project is a nuclear urban area located in the western and northwestern urban areas of Thuan Thanh district with a scale of 1,530 hectares, which DIC Group is a sponsor to develop a 1/2000 scale zoning plan. DIC expects to create overlapping projects during the coming years. Potential projects that DIC is about to invest will be bright spots on the Corporation’s sustainable development path in the future; typically projects located in the growth triangle of Hanoi – Bac Ninh – Vinh Phuc.
According to the list of constructions for the period 2021 – 2030 of Que Vo announced by the People’s Committee of Que Vo on the district portal on August 16, Cach Bi commune has many projects that will recover land to implementation, including the following projects.
Construction of investment projects in commercial zones, transportation services and restaurants in Cach Bi commune; The project to build a commercial and service zone in Cach Bi commune; Exhibition area to introduce products, repair and maintenance services for motor vehicles and industrial machines; Commercial area, service, office and rescue, traffic rescue,….
Recently, People’s Committee of Bac Ninh has sanctioned Hanaka Group Joint Stock Company for committing administrative violations in the field of real estate business at the project of industry in Man Xa craft village, Van Mon, Yen Phong district.
Specifically, real estate business that does not fully satisfy the conditions as prescribed or is not allowed to be put into business according to regulations.
The fine amount is 275 million VND, along with that, Bac Ninh province has asked Hanaka Group Joint Stock Company to stop doing real estate business when it has not met the prescribed conditions.
Recently, on a number of mass media, information about the government of Tien Du district, Bac Ninh province, confiscated land from residents in An Dong village, Lac Ve commune, especially land in Dam field. and grasslands but did not issue decisions on land acquisition, without adequate compensation, affecting people’s rights.
Therefore, a dialogue between the local government and the residents was conducted. At the dialogue, after listening to people’s suggestions, the authorities gave a clear and specific answer. However, up to now, some residents and local authorities have not found a “common voice”.
Korea Town Yen Phong project is still being widely sold on social networks, Bac Ninh Department of Construction has continued to have Document No. 127 (January 20, 2021) about illegal real estate business at the project at general commercial and service zone in Yen Trung commune and Thuy Hoa commune, Yen Phong district.
Bac Ninh Department of Construction affirmed that the project is only allowed to be put into commercial and service business in the form of leasing (the building has no housing function, cannot be bought, sold, subdivided, sold the ground)… Land use purpose is commercial and service land in the form of land leasing by the State with annual payment.
The project is located in Huong Mac ward and Phu Khe ward with the northern boundary of the old residential area and the planning of the central area of Huong Mac ward; southern boundary of Bac Phu Khe urban and service area; the east borders on provincial road 277 (DT.277) and the central planning of Huong Mac ward; The West borders the old residential area of Huong Mac ward.
The project area is about 34.85 ha, of which the area of Huong Mac ward is about 26.19 ha, Phu Khe ward is about 8.66 ha. Population size is about 12,450 people.
Accordingly, the project scale is about 158.81 ha; in which the industrial area is about 151.27 ha; the cemetery return area is about 7.54 ha.
The planned area is a clean, environment-friendly industrial area; give priority to electronics, telecommunications, pharmaceutical, supporting industries, new materials, equipment manufacturing,…
The main functional areas of the project include: Land for building factories – warehouses; land for construction of operator and service houses; concentrated green areas, isolated green trees; roads, parking lots and key technical infrastructure works.
The reason for land recovery is because Hoa Dat Real Estate Company Limited has received the transfer of land use rights associated with the transfer of a part of the project of VSIP Bac Ninh Co., Ltd. under the contract dated December 31, 2020.
After the land was recovered, the leaders of Bac Ninh province assigned land to Hoa Dat Real Estate One Member Limited Liability Company to implement the project with collection of residential land use fees (370 lots) of 5.38ha until November 30, 2077.
Moreover, Bac Ninh continues to allocate 62 hectares of land for VSIP II industrial area invested by VSIP Bac Ninh Company Limited with a total area of more than 273 hectares and a total capital of nearly 2,360 billion VND.