Three years ago Binh Duong Province was mostly farmland 15 miles north of Saigon, but today developers of the Gold Town project — 112 houses ranging in price from $264,000 to $421,000 — in Binh Duong’s new city sold all of their properties three weeks after they hit the market. Investors in the new urban area are primarily from other southern provinces and HCM City.
The initial success of Gold Town has fueled other investors to prepare to launch their own large scale projects. A multi-million-dollar villa project will begin immediately on 15 acres that will have 110 “intelligent” luxury villas expected to attract high wealth Vietnamese. Another project, Aroma luxury apartments, will target some of the 4,500 foreigners working in Binh Duong who currently live in HCM City, a significant commute.
By 2020, the new city’s population is expected to exceed 2.5 million.
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