On December 13, CapitaLand Development (CLD), the real estate development business branch of CapitaLand Group, and Industrial Development and Investment Corporation (Becamex IDC) held a signing cooperation ceremony of developing Binh Duong New City project. Accordingly, CLD will acquire and develop a potential land fund from Becamex IDC to build first large scale residential project in Vietnam. The total project development value is about VND 18,330 billion (S$ 1.12 billion). The project is located in Binh Duong New City in Binh Duong Province, about 30km from Ho Chi Minh City (HCMC). The transaction is expected to be completed in the first half of 2022.Located along Hung Vuong Boulevard - one of the two main avenues of Binh Duong New City, the project possesses convenient traffic connections when it takes only 40 minutes to drive to Thu Duc City via National Highway 13. Besides, the newly inaugurated My Phuoc - Tan Van highway will help reduce traffic on National Highway 13, shortening the travel time from the project to the center of Ho Chi Minh City to only about one hour.This is also one of the first projects of Binh Duong New City with a view overlooking the beautiful lake area and is located next to a central park of 700,000 square meters, which is considered the green lung of the city. From the project, it only takes 5 minutes to reach the administrative center of Binh Duong province, especially the World Trade Center. This is the largest commercial center in Vietnam with an area of ​​70,000m2 including an international exhibition center, shopping center, office, hotel and metro station connected to the metro line No. 1 Ho Chi Minh City. In addition, the project is also located opposite the upcoming Aeon Mall, a location that promises to bring residents a variety of dining, shopping and entertainment choices. Educational institutions such as Kinder World International Kindergarten, Singapore International School and Eastern International University are located around the project area.The project will focus on developing housing blocks with a total area of 18.9 hectares. It is expected that more than 3,700 apartments and long-term houses will be built in the project, including low-rise, mid-rise and high-rise housing, meeting the needs of about 13,000 residents. According to the original plan, it will include seven self-contained residential areas. In which, two residential areas are designed according to a combination of adjacent houses in a spacious airy space, duplex houses and villas with cultural houses and private gardens. A residential area will be designed in the form of a 10-storey apartment building. The remaining four residential areas will include a 24-story tower for each community, accompanied by dining and retail amenities such as convenience stores, cafes, restaurants and spa.Sustainable features will be integrated in each residential community at the project. Sustainable transport infrastructure is also expected to be integrated including outdoor electric vehicle charging points. In addition, bicycle lanes and pedestrian-friendly sidewalks will also be built to encourage residents to leave their cars at home for short distances, as well as tram systems in the two buildings. in low-rise.In the mid-rise housing area, the 10,000m2 central park will provide a natural space for residents to connect or relax, helping to improve residents' health. Rainwater or gray water (domestic wastewater including water from kitchens, bathrooms, tubs, laundry basins or washing machines) will be treated for irrigation purposes in parks and other green spaces.Construction will be carried out in phases, with the first phase consisting of about 1,300 apartments and houses expected to take place between 2022-2024. The whole project is expected to be completed in 2027.Source: CapitaLand