The real estate market in Long Thanh district in southern Dong Nai province, site of the proposed new airport, has entered an upward spiral following the National Assembly Standing Committee's passage of a resolution to dissolve and alter the administrative boundaries of six communes on May 29.
Signs indicate land for sale in Long Thanh district in Dong Nai province, site of the proposed new airport. (VNS File Photo)
Dong Nai(VNS/VNA) - The real estate market in Long Thanh district in southern DongNai province, site of the proposed new airport, has entered an upward spiralfollowing the National Assembly Standing Committee's passage of a resolution todissolve and alter the administrative boundaries of six communes on May 29.
Suoi Trau commune ceasesto exist and adjustments and mergers will be done to Cam Duong, Long An, LongPhuoc, Bau Can and Binh Son communes.
A huge number ofadvertisements have come up on roads in communes near the proposed Long ThanhAirport, including for the Long Thanh Airport Urban Area project in Loc An commune.
A real estate brokernamed Nam in Loc An said 41 out of 49 plots in the project have been sold at 1.3– 1.4 billion VND (60,000 USD) for plots of 100sq.m.
However, buyers find itdifficult to check the legality of lands. Chairman of the Loc An CommunePeople’s Committee Nguyen Tan Long said he could not provide any informationabout them because his administration does not oversee the real estateprojects.
Buyers could getinformation about them from the Long Thanh District People’s Committee, hesaid.
Ly, the owner of acoffee shop in Long An commune, said land prices in the area had increased from200,000 VND per sq.m three years ago to 2-3 million VND now.
In the past few months,with land prices around the airport increasing relentlessly, many people in BinhSon, Long An and Cam Duong have become real estate agents.
Nguyen Thi Hang Thuy, afarmer in Binh Son commune, said she could earn a profit of 600-700 million VNDfrom a 1,000sq.m plot of land she bought two months ago.
She said Binh Sonresidents are happy because the airport project has forced land prices up andhelped locals like herself get a "new and better" life.
Vo Tan Duc, Chairman ofthe Long Thanh District People’s Committee, said authorities are seeking toremove illegal constructions, including works by Alibaba Vietnam, in thedistrict.
The Dong Nai ProvincePeople’s Committee has instructed relevant agencies to call for tenders to dosurvey and land pricing consulting for the Long Thanh International Airportproject. It ordered them to adjust land prices.
According to the committee,construction of the airport is scheduled to start late next year.-VNS/VNA
Prime Minister Nguyen Xuan Phuc recently decided to establish the State Council to review the feasibility report for the first stage of the Long Thanh international airport construction project.
The southern province of Dong Nai has asked the Government to allocate more than 400 billion VND (17.23 million USD) to build two roads that would connect the province's National Road No. 51 up to Long Thanh International Airport, which is expected to start construction next year.
Prime Minister Nguyen Xuan Phuc has asked the southern province of Dong Nai to closely coordinate with the Ministry of Transport, investors, and relevant agencies in building, assessing, and completing the feasibility report on the Long Thanh International Airport project.
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Signs indicate land for sale in Long Thanh district in Dong Nai province, site of the proposed new airport. (VNS File Photo) 
