Identifying the industry as the economic spearhead, Long An province always places special emphasis on investi...
Identifying the industry as the economic spearhead, Long An province always places special emphasis on investing in the development of this sector. According to the plan until 2030, the area of industrial parks in the province will rank second nationwide. This is also the driving force behind the local real estate market significantly increasing its attractiveness to investors.
Long An is the leading province in industrial growth nationwide.
Strong industrial growth
Industry is the key economic sector of Long An, maintaining a high growth rate in recent years. This has contributed significantly to the transformation of the local economic structure towards industrialization and modernization. Specifically, the industrial growth rate in Long An in 2022 reached 11.15% compared to the same period. In 2023, despite global economic fluctuations, the province still maintained an industrial growth rate of 6.92%. Particularly in the last 6 months of 2023, the growth rate surged beyond 10%.
Currently, the province has 24 industrial parks (with a total area of nearly 4,300 hectares) meeting investment requirements, attracting 1808 projects, including 878 foreign-invested projects with a total capital of nearly $6.2 billion USD and 930 domestic projects with a total capital of over 133 trillion VND. Additionally, Long An also owns 23 operational industrial clusters, attracting 688 projects with a total leasing area of over 800 hectares. The occupancy rate of industrial clusters in the province is currently at 87.5%.
According to the plan approved by the government, by 2030, Long An will establish 17 new industrial parks with an area of nearly 3,200 hectares. Accordingly, the province will have a total of 51 industrial parks with a total area of 12,433 hectares. Thus, Long An will rise to second place nationwide in terms of industrial park area. Additionally, the province will have 28 more industrial clusters (totaling 1,808 hectares), bringing the total number of industrial clusters in the province to 72 (with an area of nearly 4,000 hectares). This will provide a solid foundation, creating favorable conditions and opening up great opportunities for Long An to attract investment, especially strong FDI inflows, thereby promoting comprehensive economic development.
Housing problem for experts and workers
Along with industrial development, Long An has become a destination attracting a large number of laborers from all over the country. Specifically, by the end of 2019, Long An had approximately 143,200 workers working in industrial parks. By October 2023, this number had increased to 212,000 workers. With the current growth direction and pace, it is estimated that by 2030, Long An will have more than 305,000 workers working in industrial parks.
The increase in the labor force naturally leads to a high demand for housing in the locality. However, according to the Long An Department of Labor - Invalids and Social Affairs, the average income of provincial residents in 2023 reached about 8.3 million VND/month. Meanwhile, according to market research companies in February 2024, housing prices in Long An are high, with the highest in Ben Luc reaching 83 million VND/m2, Can Duoc touching 49 million VND/m2, Can Giuoc, Duc Hoa over 50 million VND/m2, and Tan An reaching 76 million VND/m2. It can be seen that in the case of using only salary to buy a house, workers also need tens of years of income.
Therefore, housing prices are creating pressure and difficulties for workers with housing needs. Mr. Nguyen Tuong Minh (Duc Hoa district, Long An), working at Duc Hoa 3 Industrial Park, shared: "Both my wife and I are working at Duc Hoa Industrial Park, so we want to find a convenient place to settle down in the area. However, finding affordable housing at this time is not easy. Many people like me are also looking for housing, but the market is short of projects to meet demand."
Cat Tuong Phu An targets middle and low income customers
The high demand has made the "affordable" apartment model a new trend of interest for real estate investors. Cat Tuong Phu An, with a scale of more than 2 hectares, is one of the first projects to seek a "solution" regarding prices for workers with moderate incomes, even at "modest" levels. The project is located on My Hanh street, Duc Hoa district, Long An province, offering modern apartments at "affordable" prices that are gaining great traction in the real estate market in the Northwest of Ho Chi Minh City. Accordingly, with flexible payment policies, customers only need to pay 5 million VND/month to own an apartment at Cat Tuong Phu An. In addition, the investor also has many other policies to provide the best support for homebuyers, such as giving a 30 million VND furniture package, 2 years of free management, and the opportunity to own an additional 2-bedroom apartment, car...
From the project, residents can easily connect to a complete transportation network such as National Highway 1A, National Highway 22, DT 824 road, Ben Thanh - Tham Luong metro line, Duc Hoa - Chon Thanh expressway, beltway 3, beltway 4... At the same time, residents can enjoy the full ecosystem and amenities from large urban areas, well-planned such as Cat Tuong Phu Nguyen, Cat Tuong Phu Sinh, Phuc An City, Aeon Mall Hoc Mon, Huflit University, Xuyen A General Hospital, wonders park, My Quynh Safari zoo... Cat Tuong Phu An is also seen as a symbol of modern, prosperous life in Long An with over 24 unique facilities such as event square, outdoor entertainment area, Italian technology swimming pool, sports playground, children's play area, community activity center, library, indoor playground, high-altitude Japanese garden... The project offers nearly 1,700 diverse products including shophouses, studios, 1-bedroom + 1 apartments, 2-bedroom apartments, 3-bedroom apartments, featuring a harmonious design between nature and modern youthfulness.
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