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Explore VietnamPhú Mỹ Hưng Development Corporation & Nomura Real Estate Development
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 Xuân Lâm, Thuận Thành, 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.
A legitimate Phú Mỹ Hưng product in the North with unusually strong legal delivery — 1,000+ pink books already issued and handover only months away. Main tradeoff: you're still the first cohort validating whether the Q7 playbook works on Bắc Ninh buyer behaviour.
| Project | Price | Distance |
|---|---|---|
| Hồng Hạc City | 136 triệu/m² | — |
| Vinhomes Ocean Park 2 | Comparable per-m² on low-rise, denser overall masterplan | Gia Lâm, ~20 km closer to Hanoi core but high-rise dominant |
| Centa City Từ Sơn (VSIP) | 10–15% lower per-m² on semi-detached villas | Từ Sơn, closer to Hanoi via QL1A but only 16 ha masterplan |
| Him Lam Green Park | 15–20% lower townhouse entry, already handed over | Central Bắc Ninh city, smaller scheme with no Phú Mỹ Hưng brand premium |
End-user: Good project with strong brand pedigree (Phú Mỹ Hưng + Nomura), 18ha central park, low ~30% density, and long-term red books per unit. However, suburban Thuận Thành location with 40–70 min peak commute to central Hanoi, an early-stage community with only the F1-1 release of 323 units handed over in Hồng Phát, no apartment option, and limited mature retail nearby keep this in the solid-but-not-exceptional range.
Investor: Investor case is decent but narrower than the end-user case: rentability is constrained because resident profile is primarily owner-occupiers, airbnb level is none, the villa-only product mix limits the tenant pool, and Northern buyers structurally prefer apartments. Resale liquidity will take 2–3 handover cycles to develop. Long-term upside (Vành Đai 4, Bắc Ninh city upgrade, FDI growth) supports the floor but the brand premium is unproven in the North.
| Unit price | 15 tỷ – 60 tỷ |
| Launch price | 150 triệu/m² |
F1-1 primary pricing has held at 125–150M/m² for townhouses and shophouses since the June 2025 launch, with developer-subsidised 0% financing and 20% pre-handover payments anchoring takeup. Trajectory hinges on the end-2026 handover executing cleanly and Ring Road 4 opening on schedule.
| Developer | Phú Mỹ Hưng Development Corporation & Nomura Real Estate Development |
| 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. As of Sept 2025, over 1,000 low-rise units in the Hồng Phát sub-zone (~35% of the ~2,844 total) have received land use and property ownership certificates — including the full 323-unit F1-1 release. 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 within the project. Dedicated management company not yet announced. |
