Thu Duc city the 'heart' of HCMC real estate market

Thu Duc city is not only one of the most dynamic real estate markets in Ho Chi Minh City but also holds significant potential for socio-economic development, thanks to its well-connected transportation infrastructure, high-tech industrial development, and logistics services.

In recent years, the eastern region of HCMC (Thu Duc city) has consistently been a hotspot for numerous commercial housing projects introduced to the market, regardless of challenges in the market.

In 2024, Thu Duc city witnessed many real estate projects launched. Notable among them were developments from major developers like Gamuda Land, Vinhomes, Masterise Homes, and BCG Land.

A market report from property consultancy firm DKRA Group revealed that last year, the majority of new apartment offerings were concentrated in Thu Duc city. Some newly launched projects recorded prices ranging from VND80-130 million ($5,136) per square meter.

The firm predicted that, in 2025, new apartment supply will remain focused in the eastern region, particularly in the high-end and luxury segments.

Experts believed that Thu Duc city is the "heart" of Ho Chi Minh City's real estate market, making it one of the most vibrant markets in the area.

At the beginning of 2025, the city gave in-principle approvals to 12 housing projects worth up to VND33 trillion ($1.3 billion), showcasing HCMC’s commitment to the region's development.

The largest of these projects is located in An Khanh ward, developed by Sun City Real Estate Development and Investment Co. Ltd., with total investment capital of VND10.54 trillion ($416.44 million).

Additionally, the over VND4.33 trillion ($171 million) Centana residential project in Long Truong ward by Dien Phuc Thanh Housing Construction and Trading Co. Ltd. has attracted attention.

Eight other projects are underway in Thanh My Loi, Phuoc Long B, Truong Thanh, and Phu Huu wards, with investments ranging from VND1.2-2.76 trillion ($109 million). The remaining two projects are located in An Phu ward with investments of VND890 billion ($35.2 million) and more than VND110 billion, respectively.

Real estate expert Nguyen Hoang commented that HCMC’s eastern region has always been the most dynamic in the city, with numerous commercial housing projects gaining approval. The area is expected to continue drawing interest from both domestic and international investors.

Over the years, the transportation infrastructure in Thu Duc city has been increasingly improved, with several key projects such as Metro Line 1 (Ben Thanh-Suoi Tien) and ring roads, helping to raise real estate values and create significant investment opportunities.

However, the expert also pointed out that the market in this region mainly focuses on luxury, high-end, and affordable housing, while social housing is still in short supply. Therefore, to ensure sustainable growth, the city needs to allocate land to further develop affordable housing segments for real demand.

Not just real estate

The approved master plan for Thu Duc city until 2040 envisions the city as a creative, high-interaction urban area that leads HCMC’s economy, focusing on knowledge-based activities. It aims to become the country's financial center and eventually an international hub.

Thu Duc is a first-tier urban area under HCMC, covering about 21,157 hectares. It is poised to be a center of innovation, based on knowledge economy, science, technology, and collaborative development, with a focus on higher education, research, high-tech manufacturing, finance, and trade-services.

Thu Duc will play a pivotal role in fostering innovation and developing digital infrastructure for HCMC, the southeastern region, and the broader HCMC metropolitan area.

Additionally, it serves as a key connector between HCMC’s existing central urban area, Long Thanh International Airport in neighboring Dong Nai province, and other important areas in the HCMC metropolitan area’s eastern region.

At present, Thu Duc is actively calling for investment in nine major projects, including Rach Chiec Sports Complex (187 hectares), Truong Tho Urban Area (145 hectares), Southern Mekong Delta Park (150 hectares), and a residential complex in Long Truong-Truong Thanh (142 hectares), along with hospitals, schools, and cultural parks.

Local authorities stated that the approved master plan will open new development directions thanks to the connectivity and coherence among nine sub-plans, easing difficulties in granting construction permits and meeting legitimate demands for both residents and businesses.

Moreover, transportation infrastructure projects are opening up new spaces, such as the development of nine urban and inter-regional railway lines connecting Thu Duc with the rest of HCMC and Long Thanh International Airport, meeting 50-60% of transportation demand.

The city will develop urban areas under the Transit Oriented Development (TOD) model and new routes that link with important areas, such as the Cat Lai-Phu Huu-Ring Road 3 interchange- HCMC-Long Thanh Dau Giay Expressway.