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0 of 3 delivered
Phú Mỹ Hưng Development Corporation & Nomura Real Estate Development
0 of 3 sub-zones delivered · 3 upcoming 2026
Phú Mỹ Hưng's first Northern township — a 197.76 ha low-rise urban area co-developed with Nomura on the Hanoi – Bắc Ninh axis, applying the Phú Mỹ Hưng Q7 planning playbook to the North.
A 197.76-hectare low-rise township in Song Liễu ward, Bắc Ninh city (formerly Xuân Lâm commune, Thuận Thành district), jointly developed by Phú Mỹ Hưng and Nomura Real Estate. The masterplan is Phú Mỹ Hưng's first project in the North, built around a 18-hectare central park and organized into three residential sub-zones — Hồng Phát, Hồng Thịnh, Hồng Phúc — with roughly 2,850 villas, townhouses and shophouses plus an on-site school ecosystem, clinic and commercial centre.
Balanced for both homeowners and investors.
Hồng Hạc City is a credible long-term buy for Northern families who trust the Phú Mỹ Hưng and Nomura planning pedigree — 18 ha of central green space, sub-30% density, and eight planned on-site schools are rare at this scale in the North. The key tradeoffs are a still-forming community, a 40–70 minute peak Hanoi commute via QL17, and structural ambient noise from the Thuận Thành industrial belt.
Homeowner: A solid mid-term homeowner choice anchored by the Phú Mỹ Hưng and Nomura planning model — 18 hectares of green space, sub-30% construction density, and eight planned on-site schools are genuinely rare at this scale in the North. Pink books are partially issued (~35% of existing stock). The main limitations are a still-forming community, a 40–70 minute peak Hanoi commute via QL17, and elevated ambient noise from the adjacent Thuận Thành industrial belt.
Investor: A medium-term play with real catalysts but thin near-term liquidity. Ring Road 4's Thuận Thành section and Bắc Ninh's city-upgrade are genuine short-horizon drivers, but no secondary resale market exists today and the tenant pool — primarily Bắc Ninh industrial executives — is narrower than a central-Hanoi project. Yield potential builds only after 2–3 handover cycles.
| Unit price | 15 tỷ – 60 tỷ |
| Launch price | 135 triệu/m² |
| Project | Price | Distance |
|---|---|---|
| Hồng Hạc City | 135 triệu/m² | — |
| Vinhomes Ocean Park 2 (The Empire) | Comparable per-m² for comparable low-rise | Closer to Hanoi core but denser and more high-rise dominant |
| Him Lam Green Park | 15–20% lower entry on townhouses | In central Bắc Ninh city, handed over, smaller masterplan |
| Centa City Từ Sơn (VSIP) | 10–15% lower per-m² on semi-detached villas | Closer to Hanoi via QL1A corridor, compact 16 ha site |
Hồng Phát primary prices have been broadly stable since launch, with shophouse and townhouse ask prices adjusting modestly by 2–4% in recent snapshots — thin-sample movements that reflect early price discovery rather than a market-wide shift.
| Developer | Phú Mỹ Hưng Development Corporation & Nomura Real Estate Development |
| Status | 0 of 3 delivered |
| Total Units | 2844 |
| Construction Permit | Approved |
| Pink Book | Partial |
| Pink Book % | 35% |
| Legal Notes | Long-term freehold (so do/so hong) on all low-rise units, issued individually per owner. As of Sept 2025, over 1,000 low-rise units in the older-built section of Hong Phat (~35% of the ~2,844 total) have received land use and ownership certificates. New F1-1 buyers (323 units, launched June 2025) will receive red books 1-3 months after handover, targeted December 2026, upon completing the final 5% payment. Construction permit approved for Hong Phat; Hong Thinh and Hong Phuc follow the approved 1/500 masterplan. In April 2026, Phu My Hung paid over 1,400 billion VND in land use fees for 65 ha of commercial land. Bac Ninh ongoing administrative reorganization (Thuan Thanh communes merged into Song Lieu ward under Bac Ninh city) does not affect pink book issuance, per the developer. Project SPV ownership (as of Aug 2025): Nam Sai Gon Residences (Phu My Hung group) holds 50.978% and Nomura Real Estate Asia Pte. Ltd (Singapore subsidiary of Nomura Group, Japan) holds 49% - chartered capital VND 5,120 billion. Distribution: Phu My Hung Real Estate Exchange. Dedicated property-management company not yet announced. |
Hồng Hạc City
| CBD (peak) | 59 min |
| CBD (off-peak) | 53 min |
| Airport (peak) | 68 min |
| Airport (off-peak) | 64 min |
Primarily upper-middle-class buyers from Hanoi and Bắc Ninh — professionals, Bắc Ninh/Bắc Giang industrial-park executives, and returning Phú Mỹ Hưng customers from HCMC. Primary-residence buyers and medium-term investors dominate the early sub-zones; the rental market is expected to follow rather than lead community formation.
