Is it a city or a sub-city? Th\u1ee7 \u0110\u1ee9c is both. It is a municipal city. It is also a sub-city. Th\u1ee7 \u0110\u1ee9c operates under the administration of Ho Chi Minh City. Let’s explore this unique place.
Th\u1ee7 \u0110\u1ee9c was officially established in December 2020. This happened through the merger of three districts: 2, 9, and Th\u1ee7 \u0110\u1ee9c. The idea was to create a technology, finance, and service hub. Th\u1ee7 \u0110\u1ee9c hopes to contribute about 30% of Ho Chi Minh City’s total GDP.
The location of Th\u1ee7 \u0110\u1ee9c is very strategic. It sits between the Saigon River and the Dong Nai River. Th\u1ee7 \u0110\u1ee9c is next to Dong Nai and Binh Duong. This location is expected to boost future growth.
Th\u1ee7 \u0110\u1ee9c follows a ‘city within a city’ model. This concept integrates housing, offices and retail. It also includes education, entertainment, and other utilities. The goal is to create an ideal living space. Residents can live, work, and play comfortably. These integrated projects feature interconnected buildings. They showcase harmonious architecture. They also provide a great living environment.
Real estate projects in Th\u1ee7 \u0110\u1ee9c have been well-received. Demand is driven by Vietnam’s growing economy. Many buyers have cash or can get loans. By the third quarter of 2020 over 90% of available properties were bought. Property prices in Th\u1ee7 \u0110\u1ee9c have grown faster than in Ho Chi Minh City overall. This is true for both apartments and landed properties.
Th\u1ee7 \u0110\u1ee9c accounts for a large portion of new residential units. It has 30% of Ho Chi Minh City’s total. However, it only occupies 10% of the city’s area. Its population is only 12% of the city total. Luxury and premium projects are near District 1. Lower segment and landed projects are further in District 9.
The government plans for Th\u1ee7 \u0110\u1ee9c to be an interactive innovation hub. Key developments include a financial technology center. There is also a national sports complex and a high-tech park. The National Universities area will focus on information technology education. An ecological and technology center is also planned.
Th\u1ee7 \u0110\u1ee9c aims to attract a highly skilled workforce. It specializes in science and higher education. The city has a good transport system. It connects with Bien Hoa City and Thu Dau Mot City. Metro Line 1 is under construction. This new city expects to attract high quality labor.
The Thu Thiem urban area is becoming a financial center. The Ho Chi Minh City National University cluster has many member schools. These schools train tens of thousands of students each year. The high-tech park hosts modern factories. These factories represent billions of dollars in investment.
The establishment of Th\u1ee7 \u0110\u1ee9c has challenges. Housing prices have risen. This creates opportunities for price manipulation. Incomplete public transport is a concern. More bus routes are needed. Enhancing water taxi services could help too.
Th\u1ee7 \u0110\u1ee9c is focusing on sustainable development. Investors and real estate companies are sharing responsibilities. This supports a smart and modern future city. Th\u1ee7 \u0110\u1ee9c is expected to be a major investment hotspot in Ho Chi Minh City.
Th\u1ee7 \u0110\u1ee9c City has eight innovation centers. These include the Thu Thiem Fintech Hub. There is also a sports and wellness hub. A traffic hub connects to Cat Lai International Port.
Th\u1ee7 \u0110\u1ee9c City is poised to significantly boost the economy. It is expected to contribute one third of Ho Chi Minh City’s GRDP. Furthermore, it will account for 7% of the national GDP.
Now you know a bit more about Th\u1ee7 \u0110\u1ee9c. This dynamic city is transforming Vietnam. It blends innovation with sustainable development. It offers a glimpse into the future of urban living.