Northern Vietnam province Phu Tho plans its largest-ever urban area project at $3.9 bln

Authorities in Phu Tho have approved plans for a VND102.84 trillion ($3.9 billion) development that would become the largest real estate project in the northern Vietnamese province.

The project, Phu Tho integrated ecosystem urban complex, will spans Vinh Yen ward and four neighboring communes: Binh Nguyen, Yen Lac, Xuan Lang, and Nguyet Duc. It is designed to combine residential, commercial and tourism functions.

Hoa Binh and Vinh Phuc provinces were merged with Phu Tho province in July to form the new Phu Tho which borders Lao Cai, Ninh Binh, Son La, Thai Nguyen, Thanh Hoa, Tuyen Quang provinces, and Hanoi.

The project is designed to supply around 12,600 terraced homes, over 11,300 villas, and nearly 14,400 apartments, along with commercial, leisure, office, and sports facilities for sale, lease or lease-to-own to both domestic and foreign buyers.

The complex is intended as a modern, climate-resilient urban area. Construction is expected to take nine years from the date the selected investor receives land allocation or approval for land-use conversion. The project’s estimated investment excludes land-use fees and rental costs.

The investor will be chosen through a bidding process and must meet strict requirements, including a detailed environmental impact assessment.

Provincial authorities said the project must prioritize protection of the Sau Vo Lake ecosystem, limit landfill activity over natural water bodies, ensure drainage and water quality, and mitigate social impacts. Sensitive land-use categories such as cemeteries will be tightly controlled.

The province also requires the developer to invest in local social infrastructure, allocate funding for vocational training and job creation, and prioritize local labor. Wastewater systems must be built at safe distances and designs must avoid affecting protected historical or cultural sites.

Authorities said the project should emphasize environmental safeguards over urban expansion and will require transparent construction progress reports coordinated with the province.