Attracting international investment across all sectors, especially real estate, has reshaped the landscape of HCM City and painted a vibrant urban picture, driving the city’s economic development forward.
Amid this transformation, Phú Mỹ Hưng Development Corporation and its urban project of Phú Mỹ Hưng New City Centre in District 7 of HCM City has emerged as a unique beacon. Its development journey is not just about urban metamorphosis but also stands as a testament to strategic vision, substantial investment, and the aspiration to create an ideal living environment.
Over the past three decades, Phú Mỹ Hưng Development Corporation has significantly impacted the southern region’s landscape, leading market trends with a focus on sustainable development amidst economic and social fluctuations.
Revitalising once “dead” land: the value of pioneering exploration
Back in the early 1990s, amidst various socio-economic development initiatives in HCM City, the expansion of the city southwards towards the sea was a core strategy, with the southern areas, including District 7 and Nhà Bè District, identified as crucial hubs despite their low agricultural value and sparse population.
Extensive efforts were dedicated to developing infrastructure, services, and economic structures to transform the area into a central hub connecting the Southeast and Southwest economic regions, fostering the growth of a multifunctional satellite urban centre that supports the city’s overall development.
Simultaneously, innovation and international investment attraction policies became vital for advancing HCM City’s economic programmes. Among the early pioneers in the Vietnamese business environment was Phú Mỹ Hưng Asia Holdings, formerly known as the Central Trading & Development Group from Taiwan.
In 1993, Phú Mỹ Hưng Development Corporation invested over US$2 million in urban planning, prioritising the philosophy of “placing people at the centre.” This philosophy, coupled with significant planning investments, laid the foundation for the Phú Mỹ Hưng City Centre, a structured urban area with logically organised functional zones facilitating harmonious development across economic, social, and environmental aspects.
After over 32 years of development, Phú Mỹ Hưng City Centre has transformed into a modern, civilised urban hub, serving as an economic, financial, and cultural cornerstone of District 7 and the southern region of HCM City, providing tens of thousands of residents, including the foreign community, a desirable living space.
The relentless efforts of the corporation and the cultured resident community have yielded proud achievements. Phú Mỹ Hưng City is now a community that values cultural and spiritual growth, recognised as the first “model urban area” in Việt Nam by the Ministry of Construction, along with prestigious international awards, underscoring the success of this urban development model.
Phú Mỹ Hưng 2.0 – A new phase of redefining urban life values
In 2024, a significant milestone was reached for Phú Mỹ Hưng as it officially embarked on a comprehensive development phase – Phú Mỹ Hưng 2.0 – Elevating Value – to transform Phú Mỹ Hưng New City Centre into a distinctive living environment, at the forefront of creating a sustainable residential space. The Phú Mỹ Hưng New City Centre will serve not only as an exemplary urban area but also as a hub for finance, education, and healthcare in Việt Nam and the region.
In parallel with Phú Mỹ Hưng 2.0, the corporation is expanding the concept of the Phú Mỹ Hưng City Centre living space to other provinces and cities nationwide, with the Hồng Hạc City project in Bắc Ninh being the first milestone.
Comprehensive planning for Hồng Hạc City. — Photo Courtesy of Phú Mỹ Hưng Development Corporation
This initiative aims to create a livable, civilised urban area that anticipates and meets the essential development needs of modern society, contributing to prosperity in the historic land of Bắc Ninh.
With a total investment of US$1.1 billion, Hồng Hạc City spans 197.76 hectares and is designed to accommodate approximately 28,000 residents. Strategically located at the northeastern gateway to Hà Nội, the project offers seamless connectivity to major transport arteries and Bắc Ninh’s key industrial hubs.
Drawing from its internationally recognised experience in urban planning, Phú Mỹ Hưng revealed that Hồng Hạc City will be developed as an eco-urban model. About 20 per cent of the total land area will be dedicated to green spaces — a rare ratio among today’s urban developments.
In addition, the project also includes mixed-use utility clusters that together form a “All-in-One” functional space comprising healthcare, education, commerce, finance, culture, sports, and more.
The project comprises three sub-zones: Hồng Phát, Hồng Thịnh and Hồng Phúc. The Hồng Phát zone will be developed first, beginning with section F1-1, featuring terraced houses and apartments, expected to go on sale in June 2025 and be completed by 2027. Product types will include shophouse, townhouses, and semi-detached villas, detached villa officially marking Phú Mỹ Hưng’s entry into the northern property market.
Nguồn: vietnamnews.vn
