The Becamex IDC and CapitaLand signed a deal to develop Binh Duong New City in the southern province of Binh Duong early this week.

Speaking at the event, Chairman of the provincial People’s Committee Vo Van Minh committed all possible support for Becamex IDC and CapitaLand to do business in the locality, contributing to its socio-economic development and traditional ties between Viet Nam and Singapore, and between Binh Duong and Singapore in particular.

CEO of CapitalLand Vietnam Ronald Tay hailed Binh Duong as one of the fastest growing provinces in the southern key economic region and an outstanding business destination in Viet Nam.

The Binh Duong New City project covers a site of 18.9ha, providing various types of housing including over 3,700 apartments, which can accommodate around 13,000 residents. About 1,300 apartments will be built in the first stage from 2022-2024. The entire project will be completed by 2027, he said.

Chairman of the Becamex IDC’s Board of Directors Nguyen Van Hung expressed his belief that the project will be a boon for the development of Binh Duong Province and Binh Duong New City in particular, not only in real estate but also in trade, services, socio-culture and human resources.

The Binh Duong New City is set to become a new political centre of Binh Duong, a city of science, education, finance and services, and a destination for international trade. — VNS