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Access the latest construction project information in Vietnam
Major Construction Projects in Ho Chi Minh City
Ho Chi Minh City, formerly known as Saigon, is Vietnam’s largest economic centre and cultural capital. Plenty of projects in this area have seen delays and false starts on account of the pandemic (as has the construction industry as a whole), but activity seems to be picking up. Some of the construction projects that are successfully back underway include the IFC One Saigon (formerly Saigon One Tower; PID 1978011). The 41-storey tower will feature office and residential space with a retail podium. In terms of design, the new triangular glass façade will create a dragon scale effect.
Another project that has been restarted is The Nexus (PID 44967011), located on the District 1 riverfront. Featuring apartments, offices, restaurants and shops, The Nexus is valued at an estimated 1,427b VND and is set to be completed in April 2024.
Construction on the Thu Thiem 2 Bridge (PID 8614011) commenced in 2016 and was only completed in 2021; the bridge was then inaugurated in April 2022. Forming the second connection between District 1 and Thu Thiem in Thu Duc City, this landmark cable-stayed bridge features a 113-metre-high tower.
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Infrastructure Projects in Da Nang
Da Nang is known as the tourist capital of South-Central Vietnam, famous for its beaches and geographical position leaning against the Annamite Range. In terms of infrastructure, Da Nang is easily connected to the rest of Vietnam and other Asian countries via major highways, seaports and its airport.
One infrastructure project of note in Da Nang is the Lien Chieu Port project (PID 89220011). With a capacity to handle 100,00-tonne vessels and container ships, the port is set to become a key international cargo hub in the central region of Vietnam. Construction is scheduled to begin in early 2023, and the project is valued at approximately 3,153b VND.
To add to Da Nang’s (and Vietnam’s) construction update is the Hoa Cam Industrial Zone (PID 77657011). The industrial park will cover an area of 120ha in the Cam Le and Hoa Vang districts, with construction expected to commence in Q4 2023.
Major Construction Projects in Hanoi
While Da Nang has active construction projects across a number of different sectors, including residential, hospitality and infrastructure, the greatest value of projects for Hanoi can be found in its residential sector.
When it comes to Hanoi construction projects overall, there are a number to look out for, particularly in the Tay Ho District. A property development project on Lot B3CC1 of Starlake City (PID 8855601) will see two 35-storey buildings constructed by early 2026. These buildings will accommodate a hotel, serviced residences, business offices and retail facilities and is valued at an estimated 5,830b VND.
Ciputra Hanoi is home to the Sunshine Empire project (PID 81644011), which will feature five buildings including a finance tower, hotel, office and commercial complex. Construction has already commenced on this project, valued at an estimated 11,000b VND.
Also located at Ciputra is the Vietinbank Tower (PID 12765011). This project, which was started back in 2010, features a 68-storey office building and a 48-storey hotel building. Owned by Vietinbank – Vietnam Bank for Industry & Trade, this project is valued at an estimated 8,008b VND, and construction is expected to be completed in early 2025.
Infrastructure Advancements in Vietnam
Infrastructure in the Vietnam construction industry is certainly taking off; currently, the infrastructure sector has the most active construction projects in the country. Other popular sectors include industrial, residential, office and education, while the greatest number of projects overall are underway in Northern Vietnam, specifically in Hanoi.
Some major projects in Vietnam to keep an eye on include:
Mui Den Do Ecological Park – Saigon Peninsula – District 7 (PID 8117011): Located in Ho Chi Minh City, the Mui Den Do Ecological Park is valued at an estimated 92,400b VND. Currently in the Concept stage of its development, but expected to commence construction in Q4 2024, this project will feature an international marina, luxury villas and apartments, and 5-star hotel.
Long Thanh International Airport (Section 3) Phase 1 – Dong Nai (PID 5828011): As part of the Long Thanh International Airport project, section 3 includes the construction of a 4-storey passenger terminal, valued at approximately 35,233b VND. Upon completion in early 2025, Long Thanh International Airport is expected to be used as Vietnam’s primary airport.
Nghi Son Gas Power Plant & Lng Warehouse – Thanh Hoa (PID 84842011): Millennium LNG Nghi Son Co Ltd have plans for a 1.4GW power plant and LNG centre, valued at an estimated 33,300b VND. Construction is expected to commence in late 2023, with completion scheduled for December 2025.
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