Thuan An 1 high-rise residential complex granted construction permit for phase 2

The Binh Duong Department of Construction recently issued Construction Permit No. 1077/GPXD on April 9, 2024, for phase 2 of the Thuan An 1 High-rise Residential Complex situated in Thuan An City, Binh Duong Province. This permit was granted to Thien Long Building Real Estate Development JSC, a subsidiary of Phat Dat, the project developer. As outlined in this permit, the developer will proceed with the construction of the basement and main structures of blocks A1, A2, and A3.
Spanning approximately 1.8 hectares, Thuan An 1 boasts 39 floors and 3-4 basement levels, accommodating nearly 2,700 apartments and shophouses. It forms part of a 4.4-hectare complex alongside the Thuan An 2 tower, strategically positioned in the development hub of Thuan An City, with direct access to Binh Duong Avenue, Phu Loi Street, and My Phuoc – Tan Van Road.

Photo 1: Thuan An 1 High-rise Residential Complex is constructing fences and related infrastructure (Updated on April 9, 2024).

The Thuan An 1 and Thuan An 2 complex is among the four key projects prioritized by Phat Dat for vigorous sales efforts this year. Meeting all legal prerequisites for swift project implementation, by the conclusion of November 2023, MB Bank had committed to comprehensive financial cooperation amounting to VND 6,000 billion for the project.

Photo 2: Thuan An 1 High-rise Residential Complex is located on Nguyen Thi Minh Khai Street, Thuan An City, Binh Duong Province.

Binh Duong is renowned as the industrial capital of the nation. According to the Binh Duong Department of Construction, the province currently hosts 29 industrial parks sprawling across a total area of 12,600 hectares, boasting an impressive occupancy rate of 91%. These parks have drawn nearly 2 million workers, both domestic and international, thereby generating a substantial demand for housing.

Moreover, Binh Duong holds the second position nationwide, following only HCMC, in terms of attracting FDI. As per the Department of Planning and Investment, by the conclusion of 2023, the province had secured 4,219 investment projects from 65 countries and territories, with a cumulative registered capital exceeding $40.3 billion, constituting more than 8.7% of the nation’s total FDI.

In the first quarter of 2024, the province saw a remarkable increase in investment, attracting $177 million, marking a staggering 385% surge compared to the corresponding period last year. With ambitious targets, the Binh Duong Industrial Parks Management Board aims to entice approximately 130-140 investment projects into its industrial parks in 2024, aiming for a total foreign investment ranging between $1.2 billion to $1.3 billion.