Hoang Phat New Urban Area Creating Breakthroughs in Urban Development

10:56:52 AM | 16/3/2022

2022 marks the 12th year that Hoang Phat Construction Investment Joint Stock Company has invested in Bac Lieu in response to the call of the Provincial Party Committee and the Provincial People’s Committee on implementation of outer residential area projects (phase 2), now Hoang Phat New Urban Area.

Entrepreneur Hoang Thanh Long

Despite facing financial stresses in the wake of restrictions on bank loans for real estate and weak appeal of the Bac Lieu real estate market to investors, with the support and facilitation of the province, Hoang Phat Construction Investment Joint Stock Company overcame difficulties to quickly develop synchronous infrastructure for Hoang Phat New Urban Area, strengthen its prestige to investors and become an ideal place for residents.

Hoang Phat New Urban Area, located in Ward 1, Bac Lieu City, near to the administrative center of Bac Lieu province, has a synchronous, modern and convenient infrastructure. Covering ​​69 ha and costing nearly VND570 billion, the project includes residential land for townhouses and villas; public utilities like kindergartens, primary schools and secondary schools; community centers and company offices; restaurants, hotels, children's playgrounds and green parks; amusement parks and a modern fitness center of ​​more than 8,200 square meters.

Hoang Phat New Urban Area has created breakthroughs in urban infrastructure development in Bac Lieu City and helped expand the urban space for the province. At the same time, the project has solved a great deal of current housing and land needs of local people.

Located in an economically developed but not really vibrant place like Bac Lieu, building a modern urban shape like Hoang Phat is a great effort of the investor and the government of Bac Lieu province. Mr. Hoang Thanh Long, Chairman of the Board of Directors of Hoang Phat Construction Investment Joint Stock Company, said that the volume and value of infrastructure investment in the project has been to date basically completed, reaching almost 100% of the progress. In 2021, despite the complicated development of the COVID-19 pandemic, the company endeavored to invest in building more service facilities such as swimming pools, gymnasiums and other services to create a synchronous modern urban face.

Highly featured HP - ZONE Kids Food and Play Complex and Dinosaur Park, covering 2,000 square meters, consist of four main subdivisions: Water play area, indoor play area, dinosaur forest and dining area. Costing a total investment capital of more than VND16 billion, this is the most modern and largest of its kind in Bac Lieu and neighboring provinces and cities up to this point. Hoang Phat Construction Investment Joint Stock Company’s launch of these two amusement complexes has helped carry out care and education policies for children - the future master of the country.

The COVID-19 pandemic has exerted a huge adverse effect on the local economy. As a business in the province, Hoang Phat Construction Investment Joint Stock Company could not circumvent that difficulty. Fortunately, the company anticipated that adversity and, with its strongly accumulated financial resources and the ongoing support of partners in project development strategy as well as the trust of old customers, the company partly eased hardships and stabilized business operations. Since then, the company not only maintained business activities and ensured jobs and incomes for employees but also financially supported the province in social security, especially social welfare, for the province’s fight against COVID-19 pandemic prevention.

According to entrepreneur Hoang Thanh Long, President of the Board of Directors, he started his business in Dak Lak province but he was much devoted to Bac Lieu. In addition to Hoang Phat New Urban Area, he invested in building many important projects such as extended Nguyen Van Linh Street, Phong Thanh Road (Gia Rai district), an affordable housing project in Vinh Trach Dong commune (Bac Lieu City), a student dormitory in Bac Lieu City, martyr cemeteries in Gia Rai and Phuoc Long districts. Good projects have positively helped local socioeconomic development.

Therefore, with special affection and enthusiasm for the locality, he hoped that Bac Lieu leaders will be more drastic and effective in administration and support for building and upgrading social and economic infrastructure, speeding up construction progress and investment of key socioeconomic development projects. In particular, according to him, Bac Lieu province needs to further reform administrative procedures, actively support investors in procedures and legal documents to deploy projects quickly, and avoid wasting resources of investors and localities local.

By Vietnam Business Forum