District 9 is the biggest in Ho Chi Minh City and located in the Eastern parts. Being one of the least developed districts, it will go through a massive transformation in the coming decade.
The main reason is that Ho Chi Minh expands towards the East and the city will soon connect with neighboring manufacturing hubs, like Bien Hoa and Dong Nai. Besides, land prices are comparably low and you’ll find numerous tech-companies and foreign manufacturers here.
If you visit any of Vietnam’s tourist destinations by road, like Mui Ne, Vung Tau, and Dalat, you’ll most likely pass through District 9. In this article, we review one of the fastest-growing areas in Vietnam and what makes it interesting for property investments.
Property Developments in District 9
Below you can find interesting projects that are finalized, under construction, or planned for the future in District 9.
VinCity Grand Park
VinCity Grand Park is a major mixed-use project built by Vingroup, one of the biggest and most reputable property developers and conglomerates in Vietnam. It’s strategically located close to the High Technology Industrial Park of Ho Chi Minh City next to Dong Nai River.
The project is mainly to cater to buyers in the low-price segment and units cost around USD 31,000 on average as of 2020. Having said that, Dotproperty.com.vn reports that we’ve seen a yearly price increase of more than 50% at VinCity.
The project comprises of 50,000 condo units (!), 500 commercial shophouses, more than 500 riverside villas, and 1,200 townhouses. You can also find numerous facilities and items, including Vinschool, Vinmec hospital, supermarkets, parks, and more.
Address: 297 Hém 445, Phước Long B, District 9, Ho Chi Minh
Saigon Hi-Tech Park
Constructed between 2002 to 2017, Saigon Hi-Tech Park is referred to as Vietnam’s Silicon Valley and has attracted plenty of foreign companies over the years. A couple of examples are Intel, which manages chip assembling and inspections, and Samsung that manufactures huge amounts of electronic devices.
The area exports 90% of all the Hi-Tech products produced in Ho Chi Minh and has tens of thousands of scientists, managers, and experts.
Having said that, along with the rise of District 9 of becoming the manufacturing hub of Vietnam, we will see an increasingly bigger demand for residential housing and commercial property in the coming years.
Address: Saigon Hi-Tech Park (Ho Chi Minh City Hi-tech Park)
Metro Star
Metro Star is a high-end condominium project in district 9, with handover in 2021. The project will be linked with the new MRT and you’ll reach the Binh Thai Station by crossing a glass bridge.
From here, you can reach the Saigon Hi-Tech Park within a short distance, but also Thao Dien with just a 5-minute drive. What makes Metro Star interesting is its massive size and the lucrative yields. Analysts claim that buyers can enjoy yields of 6% to 8%, which is exceptionally high.
Metro Star is built by C.T Group Vietnam and Soilbuild Singapore, two reputable developers. Examples of amenities are swimming pools, a children’s pool, shopping mall, bridge connecting to MRT, gym, library, tennis courts, and much more.
Address: 360 Ha Noi Highway, Phuoc Long A Ward, District 9
Real Estate Agents in District 9
District 9 has fewer real estate agencies compared to more dense areas, like District 1 and District 2. Many of the agents mainly cater to Vietnamese residents as well and don’t have websites in English.
If you plan to buy property in Ho Chi Minh, I recommend you to contact a real estate agency that is located in the more central districts and that has experience in helping foreigners. Your best options are District 1, 2, 3, 7, and Binh Thanh.
Infrastructure Developments
Below you can find two major infrastructure developments in District 9.
Vietnam’s largest bus station – The Eastern Bus Terminal
Located in Long Binh Ward, The Eastern Bus Terminal covers 16 hectares and the biggest bus station in Vietnam. The project costs USD 172 million to build and will accommodate more than 7 million every year.
The bus station will be modern with numerous facilities and connect with the Metro Line 1. Here, you can also find food courts, cinemas, shopping malls, and more.
Ho Chi Minh City Metro – Line 1
The new Metro line, which connects Ben Thanh with Suoi Tien, will have a major impact on District 9. The project was originally planned to be finished in 2018, but was postponed due to funding issue.
Stretching 19.7 kilometers, it will have 14 stations and significantly improve the connectivity with the somewhat desolate District 1 with the rest of the city, and surrounding cities. There are plans to expand the Metro line to Bien Hoa and Bien Duong, two major manufacturing hubs located close to Ho Chi Minh.
Interestingly, the French built Saigon to host 400,000 people, which has rapidly increased to around 10 million, yet these are only the official numbers. Some claim that there might be as many as 20 million, as unregistered people commute to Ho Chi Minh for work.
The Metro will inevitably reduce the congestion issues and enhance transportation in Ho Chi Minh.
Commercial Property
District 9 is flat and with fewer attractions and commercial activity than the central areas. At least for the time being. Many of the foreigners who live in Ho Chi Minh have never even set foot here.
As mentioned, this will change in the coming decade as Ho Chi Minh continues to expand towards the East, boosting investment in District 2 and District 9. This will increase the connectivity with Dong Nai and Bien Hoa, cities that many expats and locals commute to daily.
District 9 will accumulate a significant amount of the future office supply. Not only are land prices cheaper here, but the increased interest from foreign manufacturers and investors makes District 9 one of the most interesting investment destinations at the moment.
