Property developer Metro Star plans dozens of projects along HCMC metro lines

Metro Star Investment Co., Ltd, a subsidiary of realty developer CT Group, is quietly preparing a series of projects along six metro lines in the southern economic hub of Ho Chi Minh City.

The company has caught the public eye through the Metro Star project at 360 Vo Nguyen Giap avenue, one of the most beautiful boulevards in HCMC's Thu Duc city, which is about to open for sale. The project also has a pedestrian bridge directly connecting Binh Thai metro station to the soon-to-be-completed Metro Line No.1.

The name Metro Star speaks volumes about the company's development strategy, and it could be the first enterprise in Vietnam to adopt this new real estate business model.

This model is not new for Tokyo (Japan) or Hong Kong (China). Tokyo's first Ginza metro line started operations in 1929 and Hong Kong opened its first metro line 50 years later. Today, Tokyo Shinjuku Station serves 3.6 million passengers every day, holding the Guinness record as the busiest station in the world. Shop owners and companies that owned real estate near new metro stations are now extremely wealthy.

History is likely to repeat itself for Metro Star after learning from the experience of Japan and Hong Kong.

Metro Star, a member of CT Group, has made an imprint on the market with its 18 years of experience in developing apartments, shophouses and projects like I-Home that helped buyers earn a profit of around 300% many years ago. The first phase of a project along Metro Line No.1, also named Metro Star, made a 100% profit for investors.

Over the past 18 years, the company has quietly bought up land next to major metro stations, showing its long-term vision as the whole world moves towards net zero by developing metro routes to reduce CO2 emissions, noise and traffic congestion.

When HCMC's six metro lines are open, passengers will be able change trains to get to any location in the city, and more than half of the city's population are expected to use this method of public transport.

Residential properties along these metro lines will be suitable for young people who like the lifestyle of modern cities. In addition, green, sustainable real estate meeting the Environmental, Social, and Governance (ESG) standards will be the best choice for customers and investors who like sustainability and continuous price appreciation.

According to a company representative, Metro Star sees favorable conditions for listing in the global market as it has been audited by E&Y for many years, and its products have been evaluated by the global leader in real estate services and investments CBRE.

The international valuation agency Grant Thornton has valued Metro Star’s shares at VND133,000 ($5.45) each. The company has also been invited to list internationally, with Tokyo and Hong Kong clearly understaning the potential and value of projects developed along metro stations.

To share opportunities with the community, on its 18th anniversary on September 28, 2023, Metro Star will announce a special programme entitled "Continuous capital multiplication in 10 years" for major customers as strategic partners or ambassadors for the company.