Phu My Hung creates sustainable values
After three decades, Phu My Hung is now known by the domestic and foreign communities as a leading model urban area and a success story of the joint venture model in Vietnam, buoyed by quality living space, a humane community, and a sustainable development structure.Phu My Hung New City Centre is the first step of a strategy to expand Ho Chi Minh City to the south while offering high-quality living space and an elite community.
In the early 90s, the location of Phu My Hung was a swamp with no roads and no economic value. But then Phu My Hung
Development Corporation was born, representing the transformation of Ho Chi Minh City as it began to call for foreign investors into the city.
In 1993, Phu My Hung held a competition to design a new urban plan with the participation of the world’s top architectural planners. As a result, the global designers including Skidmore, Owings & Merrill, Kenzo Tange & Associates and Koetter Kim & Associates, were chosen to participate in building the township’s master plan.
Three years later, Phu My Hung Development started to build its urban infrastructure, including the 17.8km Nguyen Van Linh Parkway with 10 lanes. The boulevard was built to pass through the swampland of Nha Be district (partly now District 7), District 8, and Binh Chanh. From here, the first drawings of the urban area began to materialise.
In five urban areas located along Nguyen Van Linh Parkway, Zone A of Phu My Hung was developed first with eigth functional subdivisions including three commercial and service subdivisions, and five areas reserved for housing development including apartments, villas, and townhouses.
The architectural and functional characteristics of each sub-zone in Zone A have created a completed functional urban area with the criteria of convenient use and harmony with the neighbouring green landscape.
All technical infrastructure works such as traffic systems, electricity, water, and telecommunications have also been built.
So far, more than 113 housing construction projects have been implemented with many medical facilities and educational institutions. Phu My Hung Development has also attracted many secondary investors to develop services with dozens of commercial projects and hundreds of businesses in almost all sectors.
Assoc. Prof. Dr. Nguyen Trong Hoa, former director of the Institute for Research and Development of Ho Chi Minh City, said that one of the factors for Phu My Hung urban area to be realised from conception to reality was the participation of investors from the very beginning.
Meanwhile, sociologist Assoc. Prof. Dr. Nguyen Minh Hoa said that Phu My Hung has brought about another value to the whole community. “Phu My Hung contributes to shaping a new and modern lifestyle of the 21st century, making people more aware of the conventions of living in public and creating sustainable living spaces,” Hoa said.
Creating and maintaining value
Looking back at nearly 30 years of investment in Vietnam, Phu My Hung Development has experienced three development phases – the first American-standard urban planning, the first model city, and the first service city. Now, it is entering its fourth development phase – a smart city, aiming to meet the ecological and convenience needs of residents.
The real-life value of Phu My Hung New City Centre is not only attracting local people but also the international community, with nearly half of the total population of the whole area being foreigners.
At Phu My Hung Development, the elements that create value are linked together and have created the real value of a property that worth buying, worth living in, and worth investing in. Creating a property that is both valuable to live in and has added value is the goal of all efforts that Phu My Hung Development has made over the past 30 years. The goal of creating multiple values for homebuyers will never end, to ensure that homebuyers will always feel proud of their choice to live in Phu My Hung.
In addition, such a city will be a lever to promote the economic development of the whole locality and region.
|Phu My Hung Development Corporation was established in 1993 based on a joint venture between Tan Thuan Industrial Development, which contributed 30 per cent capital by land use rights, and Phu My Hung Asia Holdings (formerly CT&D Group), contributing the remainder.
Located over 2,600 hectares in the south of Ho Chi Minh City, Phu My Hung Development is assigned to exploit and develop five zones along Nguyen Van Linh Parkway. Of those, Phu My Hung Township is Zone A – a new urban centre with an area of 433ha.