Constrexim - Hod: Spreading Leadership Imprints

As an investor of many large-scale real estate projects in Hanoi such as Tam Trinh 409 Garden Villas and Green Park Tower Deluxe Apartment, Constrexim Housing Development Investment Joint Stock Company (Constrexim - Hod) also invested in Mat Son Lake Residential Area Project in Chi Linh (Hai Duong province), licensed for the first phase deployment in August 2021. Our reporter has an interview with Mr. Nguyen Trieu Duong, General Director of Constrexim - Hod, on this matter.

Given the negative impacts of COVID-19, how has Constrexim - Hod endeavored to overcome difficulties and joined hands with the country to prevent, control and safely adapt to the pandemic?

Nearly two years after the outbreak of the COVID-19 epidemic, the domestic economy and enterprises faced numerous challenges. Not being an exception, Constrexim - Hod confronted many difficulties: Products could not be sold or leased; business plans were delayed as a result of worker shortages and input supply disruptions; and office and factory space rent rates had to be slashed for partners. Fortunately, with the close direction of the Board of Directors, the determination of the Board of Management and the solidarity and effort of all employees, Constrexim - Hod achieved its highest business goals and ensured income and life for employees.

In addition to business, the company has administered COVID-19 vaccines for 100% of its employees and actively joined hands with the whole country to rein in the epidemic. The company donated VND130 million to the COVID-19 Prevention Fund launched by the Vietnam Fatherland Front; VND100 million to the COVID-19 Vaccine Fund; VND100 million to the COVID-19 Prevention and Control Fund in Yen Hoa Ward, Cau Giay District (Hanoi City); VND200 million to the COVID-19 Prevention Fund; one Ford-brand ambulance (worth VND1 billion) for Chi Linh City (Hai Duong); and VND200 million to the Ho Chi Minh City COVID-19 Prevention Fund. The figures were still modest but they showed the great effort of the company which also struggled in difficulty as well as its belief in the firm leadership of the Party and the Government and the active participation of all levels, sectors and people nationwide in the fight against the COVID-19 epidemic.

For 16 years since the construction of Mat Son Lake Residential Area Project (June 2005), Constrexim - Hod has persistently brought great values to Chi Linh. Would you introduce this groundbreaking project?

In 2004, in response to Hai Duong province's investment attraction policy, Constrexim - Hod decided to invest in Mat Son Lake Residential Area Project in the southwestern gateway of Chi Linh district. The project commenced construction in June 2005.

At that time, Chi Linh was still small and the project faced many difficulties. The first was its development direction: Behind Mat Son Lake is a 38-hectare valley. If opened in this direction, it will create a beautiful urban space, but the cost was greater. Choosing the "difficult but beautiful" option, the company had to level millions of cubic meters of soil for the project.

In order to have "clean space", the company relocated nearly 3km of 110KV high voltage power lines out of the project area. This work was "unprecedented" and "unthinkable". With the support of the electricity sector, in 2007, the company started the relocation and completed it after nearly two years. Creating "clean ground" also faced obstacles because some households were unwilling to move. Fortunately, thanks to firm and persistent efforts of provincial and district authorities, they gradually understood and gave up the ground for the project.

Mat Son Lake Residential Area made a pioneering and impressive milestone on Chi Linh's development and urbanization process. Not only being an early project, the residential area is also synchronous and modern: Internal roads and sidewalks are well planned and spacious, with many green spaces. The company guided and managed the architectural space in terms of height and vacant land. Therefore, the urban area always exudes elegance, light, greenness, clarity and beauty, further decorated by Red Star Square where thousands of people arrived to celebrate the moment Chi Linh was upgraded into an urban town in 2010.

Placing responsibility above interests, real estate products in Mat Son Lake Residential Area are affordable to residents. Thus, more than 1,000 land lots were quickly sold out. People spent much less money to own modern villas, not inferior to those in big cities like Hanoi. During their inspections, authority delegations found no errors in planning and construction, and acknowledged that the project was invested by a professional and dedicated Contrexim.

Could you please give more information about 57.41-ha Chi Linh Ecological Urban Area (phase 1), costing VND656 billion, launched by Constrexim - Hod?

To successfully spread the success of Mat Son Lake Residential Area, in 2014, Constrexim - Hod proposed deploying a project in the southwest of Chi Linh Town. On February 28, 2014, the Hai Duong Provincial People's Committee granted Decision 565/QD-UBND approving the detailed construction planning of 118.69-ha Chi Linh ecological urban area. After that, the province approved the project and recently granted an investment license for Chi Linh Ecological Urban Area, Chi Minh Ward, Chi Linh City - Phase 1 (August 2020). The first phase has an area of 57.4 ha, adjacent to National Highway 18 in the north, Phao Tan - An Bai Canal in the south, Van An 2 Industrial Complex in the west and Mat Son Lake Residential Area in the east. The project has an investment budget of VND656 billion, capable of housing 7,669 people. It consists of 1,536 townhouses, 108 villas, 45,052 square meters of trade, service and office land, and 20,088 square meters of land for social infrastructure.

The objectives of the project are building a modern urban area; synchronizing technical and social infrastructure with neighboring areas; providing housing funds, commercial and service facilities, public works and essential technical infrastructure. The project is highlighted with a full range of cultural and sports facilities and modern urban architectural infrastructure. Currently, Constrexim - Hod is completing documents and procedures, allocating resources and preparing to kick it off in 2022.

As a pioneering investor in Chi Linh, how do you assess the potential investment magnetism and development space of Chi Linh in the coming years? For you, what do Hai Duong and Chi Linh need to deal with to effectively attract projects?

Over the years, Chi Linh has grown strongly to become a town in 2010 and a city in 2019, and Constrexim - Hod is proud to be the first company to expand urban construction in this land.

Chi Linh City is currently an attractive destination for many big investors. In addition to the two projects invested by Constrexim - Hod, many corporations are also researching and investing in their projects, including FLC Group, Sun Group, TH, T&T and Xuan Truong. Promising ideas and proposals help supplement the housing fund, change the outlook and create motivation for local socioeconomic development.

Constrexim - Hod soon showed investment potential and development space because Chi Linh is well-located, with National Highway 18 passing through the intersection of three northern major economic pillars of Hanoi, Hai Phong and Quang Ninh.

When Constrexim - Hod invested in Chi Linh, the local investment attraction policies were unclear and the real estate market was still in its infancy. Actively supported by the province and the district to complete documents, procedures and site clearance, the projects were successful. After 15 years with three administration terms, each term acted better to the business community, policies were clearer and leaders understood the business better.

For real estate projects, ground clearance is always key, a major development bottleneck in many localities and even in Chi Linh. At present, policies are clearer but there is still a gap between policies and realities in site clearance. To resolve this bottleneck, the core is close coordination between the government and investors to create consensus in speeding up projects.

By Vietnam Business Forum