Analyst Pin-board Real estate update in “Thu Duc City
Overview
“Thu Duc City” is a hot keyword lately given the merger information of Districts 2, 9 and Thu Duc. According to the information from the Party Committee of Ho Chi Minh City, the Government announced the determination of the Standing Deputy Prime Minister - Mr. Truong Hoa Binh on the project to sustain Ho Chi Minh City’s development. At that time, he gave the green light to the idea of merging the three Districts to form Thu Duc City. This was pursuant to the scheme of arranging administrative units at district and commune levels during 2019-2021. The formation of Thu Duc City in consonance with the orientation of establishing a creative and highly interactive urban area is aligned with the general policy of digital economic development. As these districts already have convenient and modern infrastructure, including the metro line No 1 from Ben Thanh in District 1 to Suoi Tien in District 9, the expressway from HCM City to Dong Nai Province and Cat Lai Port, Thu Duc City is predicted to be new imperative area of HCMC and the country with 30 percent contribution to the city’s economic growth, and 4-5 percent of the country.
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