The ongoing development of the Long Thanh International Airport in Dong Nai Province is the key factor driving Dong Nai’s real estate development, and if the government is able to maintain the project timetable then it will be able to control business growth, employment and economic development in the province.
At a recent meeting between authorities from Dong Nai, Bien Hoa City and several state agencies, Cao Tien Dung, Chairman of the Dong Nai Province People’s Committee, instructed Long Thanh District to increase their efforts to hand over land for the first phase of the airport by October.
As well as land acquisition, government payments for land compensation has been prepared and the governments plan for building resettlement areas, beginning next month, are underway.
The current focus of both the provincial and central governments are prioritizing first phase funding issues. To date, the central government has provided more than $650 million USD in funds to Dong Nai Province to acquire land and build two resettlement areas.
At the same time the central government and the Ministry of Transport have also planned infrastructure projects that are related to the airport including roads that connect a national highway with the airport and development of the Ho Chi Minh City-Long Thanh-Dau Giay Expressway.
The Long Thanh International Airport is expected to become a key transit hub for the southern economic zone and region and during the 2018-2020 period, Dong Nai will spend more than $1.45 billion USD to improve transport infrastructure to serve the airport project.
According to real estate industry experts, the Long Thanh International Airport will usher in a period of continued growth in the real estate market, particularly housing, which will be adjacent and near the airport.