An Iconic Project is Coming: Phu Tho Real Estate Heats Up

The VIC Grand Square commercial, financial, and multifunctional residential tower is set to launch, transforming the landscape of Viet Tri City. Strategically located at a prime ‘diamond’ position, it offers three product functions and 68 exclusive amenities.

This is also the only project in the city center offering a high-end apartment supply of up to 1,500 units, complemented by a series of amenities at the building’s podium. Catering to the high demand from experts, foreign workers, and mid-level managers in local industrial zones, the project is highly regarded by investors as a market-leading development, set to drive Phu Tho’s real estate sector in its new growth cycle.

The New Commercial Hub of the River Confluence City

Established on June 4, 1962, Viet Tri City is the birthplace of civilization, preserving tangible and intangible cultural values and heritage from the Hung Kings era. According to Decision No. 418/QD-TTg on Phu Tho Province’s master plan for the 2020-2030 period with a vision to 2050, the province is set to become the next industrial capital of Northern Vietnam—a dynamic economic center and a key driver of development for the northern gateway of Hanoi and the Northern Midlands and Mountainous region.

With rapidly developing and synchronized infrastructure, Viet Tri City is an attractive destination for investors in socio-economic development and cultural tourism. The province has already attracted leading real estate developers with promising projects, including the VIC Grand Square Commercial, Financial, and Luxury Residential Tower, located at Hung Vuong Square, which is emerging as the focal point of the market.

Positioned at a prime “diamond” location in the city’s new commercial hub, VIC Grand Square is designed with smart functionalities, modern amenities, and a distinctive, impressive architectural style. The project features premium interiors from world-renowned brands such as Bravat, Grohe, and Kone and offers 68 exclusive amenities tailored to an elite community of residents and owners.

The project consists of two modern 36-story towers housing 1,500 luxury apartments, along with commercial shops at the podium level, seamlessly connecting to a low-rise zone with four adjacent shophouse blocks. The integrated amenities within the development include a kindergarten, a system of restaurants, a four-season swimming pool, a gym, an outdoor sports area, an entertainment district, a high-end shopping street, a library & book café, lush green spaces, walking paths, a sky garden, a yoga garden, and the Grand Square Mall.

Beyond the cutting-edge internal facilities, VIC Grand Square also offers seamless connectivity with the surrounding long-established residential areas and synchronized external infrastructure. From VIC Grand Square, residents can easily access the Viet Tri City administrative center, Van Lang Lake Park, industrial zones, and other essential urban infrastructure with great convenience.

Bringing together an international community of young intellectuals, experts, and high-skilled workers, VIC Grand Square is more than just an ideal living space for a cultured, affluent community—it is a gateway to new business opportunities. With a substantial customer base for shophouse businesses and a soaring demand for high-end rental apartments among foreign professionals and skilled workers in Phu Tho’s major industrial zones, the project is set to redefine the city’s real estate landscape.

Phu Tho Real Estate Heats Up

Leveraging its proximity to the airport and a well-developed, modern transportation network, Phu Tho is well-positioned to attract FDI in high-tech industries, large-scale manufacturing, and emerging sectors. The province is rapidly becoming a new growth hub for foreign investment, drawing the attention of major international corporations. A prime example is BYD Group, which initially invested $269 million and has continuously expanded its capital over the past two years. Today, BYD is the largest foreign investor in Phu Tho, with a total registered investment reaching $600 million.

The province is actively promoting investment from major global corporations, particularly from China, South Korea, Japan, and Australia, including Sojitz, Wingtec, Foxconn, and Blackstone Minerals.

Phu Tho currently has four operational industrial zones, attracting 202 projects with a total registered investment of nearly VND 26 trillion and USD 2.3 billion, including 98 foreign-invested projects. In the first nine months of 2023, businesses operating in Phu Tho’s industrial zones generated an estimated VND 25.5 trillion in revenue, marking a 10% increase year-over-year, while providing jobs for 29,870 workers with an average monthly income of VND 7.1 million per person.

With a planned population of 350,000 by 2030 and 500,000 by 2040, and significant population growth expected due to its emergence as the next industrial capital of Northern Vietnam, Phu Tho is set to develop 12 new industrial zones in the future. This will create huge demand for high-end housing, commercial services, and logistics infrastructure to support industrial zones.

Lessons from other emerging industrial hubs such as Bac Ninh, Bac Giang, and Thai Nguyen show that not only do local residents seek to enhance their living standards with modern housing and better amenities, but demand for rental properties from foreign experts and senior executives is also rising sharply.

Currently, Phu Tho faces a severe shortage of high-quality housing projects with comprehensive amenities to accommodate the rental needs of foreign professionals and business leaders.

With outstanding advantages, VIC Grand Square is emerging as a game-changer for Phu Tho’s real estate market and is eagerly anticipated ahead of its official launch in Q1 2024.

Experts believe that with new urban projects continuously breaking ground since 2022, the arrival of an iconic development like VIC Grand Square marks the beginning of a new growth cycle for Phu Tho’s real estate market. This presents real profit potential for both homebuyers and investors. Notably, Phu Tho is the only province in Northern Vietnam that has never experienced a real estate boom, making its property prices extremely rare, still at the “early wave” stage, and offering a safe yet highly promising opportunity for secondary investors.