The master plan for development of Vietnam’s urban areas over the next 50 years has been approved by the Vietnamese government. It is expected that this will translate into huge investments in the area’s real estate sectors. For more on this, read the following article from Property Wire.
The Vietnam government has approved a master plan for the future development of the country’s urban areas which is likely to result in massive investment in the property sectors.
The plan outlines a massive construction program for urban development up to 2050 and advocates the use of advanced architectural techniques to utilize environmentally friendly and ecological features and preserve important heritage sites.
Major centers like HCM City, Hanoi, Hai Phong, Vinh, Hue, Da Nang, Quy Nhon and Can Tho will become urban clusters or satellite areas to prevent overpopulation and economic and ecological imbalances.
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Economic hubs and major cities that play a key role in the country’s development will be prioritized for urbanization until 2015 and then from 2016 to 2025, other substantial urban areas will be developed to play a central role in their respective regions.
It is estimated that by 2025, there will be 1,000 major urban areas, 17 of them first grade, 20 second grade, 81 third grade and 122 fourth grade. The remaining 760 will be classified as fifth grade.
Along with urban growth, the plan deals with preserving architectural features of urban areas like Hanoi and HCM City, and the cultural and architectural heritage of places like Hue, Hoi An, Da Lat and Sapa.
Architect, Nguyen Dinh Toan, from the Ministry of Construction’s Architecture, Urban and Rural planning Institute, said that it was vital to include the preservation of unique architectural and cultural areas like the old quarter in Hanoi.
"The plan will create an architectural combination that is in harmony with the old quarter to enhance the city’s image. Those structures emphasize connection, inheritance and making the most of what is available," he explained.
He said that appropriate rules and regulations would have to be drawn up to manage the use of historic sites in urban areas, especially in future regional planning. "There is the need for a code to maintain traditional characters in new urban architecture and design," he said.
This article has been reposted from Property Wire. View the article on Property Wire’s international real estate news website here.