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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.
Better for long-term living than for investing.
Hồng Hạc City is Phú Mỹ Hưng's first Northern township — a low-rise villa and townhouse masterplan in Thuận Thành, Bắc Ninh, bringing the Phú Mỹ Hưng planning model to the Hanoi–Bắc Ninh corridor. The strongest argument is the developer brand and a comprehensive planned amenity package; the binding constraint is that nothing is yet operating on-site, and buyers commit to a 2026–2027 handover horizon.
Homeowner: A good medium-term choice for homeowners targeting a Phú Mỹ Hưng low-rise address in the North. Eight planned on-site schools and an 18-hectare central park are exceptional for the Bắc Ninh township market, but buyers commit to a 2026–2027 delivery window with nothing yet operating on-site. Connectivity risk eases once Ring Road 4 opens, targeting late 2027.
Investor: The investment case is catalyst-dependent at this stage — no active resale or rental market exists, and both Ring Road 4 and the VinSpeed railway are under construction but not yet operational. Phú Mỹ Hưng brand prevents significant downside, and the Bắc Ninh industrial corridor provides a plausible tenant base for villa rentals, but meaningful liquidity should not be expected before 2027–2028.
| Unit price | 15 tỷ – 60 tỷ |
| Launch price | 135 triệu/m² |
| Project | Price | Distance |
|---|---|---|
| Hồng Hạc City | 135 triệu/m² | — |
| Vinhomes Ocean Park (Gia Lâm) | Higher for comparable low-rise product; closer to Hanoi's ring with operating amenities already delivered | ~6 km closer to Hanoi; established community with Vincom Mega Mall, Vinschool, and Vinmec all operating |
| Ecopark (Hưng Yên) | Generally lower per m² for apartments; comparable for low-rise villas but an established township with a 15-year track record | Southern corridor via Hưng Yên; operating schools, hospitals, and retail vs Hồng Hạc's entirely planned stack |
Primary pricing at Hồng Phát is stable at ~137M VND/m², with the project still pre-delivery and the resale market not yet active.
| 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 (sổ đỏ/sổ hồng) on all low-rise units, issued individually per owner. Over 1,000 low-rise units in the older-built section of Hồng Phát (~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, confirmed for December 10, 2026, upon completing the final 5% payment. F1-2 (397 units, launched May 27, 2026) follows the same pink book issuance sequence after its handover. Construction permit approved for Hồng Phát; Hồng Thịnh and Hồng Phúc follow the approved 1/500 masterplan. In April 2026, Phú Mỹ Hưng paid over 1,400 billion VND in land use fees for 65 ha of commercial land. Bắc Ninh administrative reorganisation (Thuận Thành communes merged into Song Liễu ward, Bắc Ninh city) does not affect pink book issuance per the developer. Project SPV ownership (August 2025): Nam Sài Gòn Residences (Phú Mỹ Hưng group) holds 50.978% and Nomura Real Estate Asia Pte. Ltd holds 49% — chartered capital VND 5,120 billion. Dedicated property-management company not yet announced as of June 2026. |
Hồng Hạc City
| CBD (peak) | 64 min |
| CBD (off-peak) | 53 min |
| Airport (peak) | 72 min |
| Airport (off-peak) | 62 min |
Primarily upper-middle-class Northern buyers — Hanoi professionals and Bắc Ninh industrial-park executives seeking a branded low-rise primary residence, alongside Phú Mỹ Hưng customers from HCMC investing in or relocating to the North. Primary-residence buyers are expected to dominate, with a meaningful share of mid-term investors; short-term rental activity is unlikely for this product type and location.
