On April 19, Vingroup broke ground on the Vinhomes Green Paradise sea reclamation urban tourism project in Can Gio, one of the largest-scale developments in Vietnam to date.

Spanning 2,870 hectares and with an estimated investment of $11 billion, the venture is positioned as a high-end coastal urban area, combining resort, convention, smart city features, and advanced service and housing components.

According to Arnaud Ginolin, managing director and partner at BCG Vietnam, the consulting partner for the venture, Vinhomes Green Paradise will set a new benchmark for ESG-integrated cities, balancing development with conservation.

“This is not just a vision, but a commitment backed by a comprehensive strategy. BCG will draw on our global experience in sustainable urban development to optimise this model,” he said at the groundbreaking ceremony.

Duong Ngoc Hai, Permanent Vice Chairman of Ho Chi Minh City People’s Committee, said that Vinhomes Green Paradise would be a strategic destination in the City’s plan to elevate Ho Chi Minh City into a regional economic, financial, and tourism hub.

“The city will streamline administrative procedures and improve infrastructure to create the best conditions for investors,” Hai said.

Nguyen Viet Quang, vice chairman and CEO of Vingroup, said, “Developing Can Gio must go beyond outdated models. We aim to create a harmonious space where modernity and nature elevate the quality of life. Vinhomes Green Paradise is envisioned as a world-class environmental, social, and governance city, representing Vietnam’s global ambition.”

The Vinhomes venture is part of a broader infrastructure transformation in Can Gio. Alongside are key infrastructure initiatives, including the $5 billion Can Gio International Transshipment Port.

The port, positioned near Cai Mep-Thi Vai estuary and close to key international maritime routes in the East Sea, is expected to generate 6,000–8,000 direct jobs and tens of thousands more in logistics and support services.

This scheme was approved for investment in early 2025. Spanning 571ha and with seven planned construction phases, the port will begin partial operations in 2027 and reach completion by 2045.

The port’s geographic advantage makes it a key gateway for cargo from Thailand, Cambodia, the Philippines, Brunei, and southern China.

Connectivity is a top priority. A proposed metro line will stretch 48.5km from Nguyen Van Linh street in District 7 to Can Gio, with a maximum speed of 250km per hour – more than twice that of the existing Ben Thanh-Suoi Tien line. The project is expected to cost $4 billion under a public-private partnership model.

Additionally, the Southern Coastal Expressway aims to link Tien Giang province to Can Gio and Ba Ria-Vung Tau via a sea-crossing bridge. The initiative’s estimated cost is between $1.2 and $2.4 billion.

The planned Can Gio Bridge, over 7km long, is another critical project, designed to replace the current Binh Khanh ferry and connect to both the port and the urban area. The bridge is expected to be completed before 2030.

“If these plans are realised, Can Gio will unlock tremendous growth potential, not only for itself or Ho Chi Minh City, but for regional integration across the Southeast region and nationwide,” said Can Gio People’s Committee Chairman Nguyen Van Hong.

Thanks to an improved infrastructure system which is expected to drive rising tourism, Can Gio is experiencing a surge in demand for resort and second-home real estate. Premium villas, beach resorts, and ecological urban developments are attracting growing interest from investors and homebuyers alike.

Can Gio’s pristine mangrove forests, scenic beaches, and tranquil environment set it apart as a destination ideal for ecotourism and resort development. Locations like 30/4 Beach, Vam Sat Tourist Area, and Thanh An Island are increasingly attractive to investors seeking to develop weekend homes or premium rental properties.

One of the most notable real estate segments in Can Gio District is residential housing and land plots.

Many investors and Ho Chi Minh City residents are increasingly eyeing Can Gio as a destination to acquire land, where prices remain relatively affordable compared to neighbouring areas. Particularly, once major infrastructure projects are completed, land values in Can Gio are expected to rise significantly, offering high profit potential for investors.

Nguyen Thanh Hoang, a real estate broker in Can Gio, said that residential land prices in the centre of Can Thanh town have surged to $2,500 per sq.m in April, the highest level ever recorded.

“Compared to a year ago, when prices ranged from $2,400 to $2,800 per sq.m, this marks a significant increase. Despite the rising prices, transactions remain active, with some land plots valued at hundreds of billions of VND (millions of US dollars) still attracting buyers,” Hoang said.

According to café and restaurant owners in Can Thanh, it has been a long time since they have seen such a large number of people visiting to view and purchase land, particularly in the past 2-3 weeks.

“The areas receiving the most interest include Can Thanh town and Ly Nhon commune, while communes such as Binh Khanh, Tam Thon Hiep, and An Thoi Dong have yet to see notable transaction activity,” said Bui Thi Hoan, a café owner in Can Thanh town.

According to People’s Committee Chairman Hong, the local real estate market faces several challenges. “Chief among them is the preservation of the mangrove forest ecosystem, one of the region’s most valuable natural assets. Any development projects must ensure they do not adversely affect the environment, requiring careful planning and implementation,” Hong said.

He added that the district still lacks modern public services and amenities, particularly in healthcare, education, and commerce.

“For Can Gio to develop sustainably and pull in long-term residents, more investment is needed in social infrastructure and public services to ensure a comfortable living environment,” he said.