DistantNews
Support us
Phú Mỹ Hưng 2.0: Continuing a Legacy of Land Development with Hồng Hạc City in Bắc Ninh
🇻🇳 Vietnam /Economy & Trade

Phú Mỹ Hưng 2.0: Continuing a Legacy of Land Development with Hồng Hạc City in Bắc Ninh

From Tuổi Trẻ · () Vietnamese

Translated from Vietnamese, summarized and contextualized by DistantNews.

At a glance

In-depth Sources not specified Context piece
  • Phú Mỹ Hưng is expanding its urban development strategy beyond Ho Chi Minh City to Bac Ninh with the Hồng Hạc City project.
  • The project, a collaboration between Phú Mỹ Hưng and Japan's Nomura Real Estate, aims to replicate the success of Phú Mỹ Hưng's model in South Saigon by focusing on long-term value and sustainable urban development.
  • This expansion signifies a continuation of Phú Mỹ Hưng's philosophy of leaving a lasting positive impact, applying its

Phú Mỹ Hưng is extending its urban development legacy beyond Ho Chi Minh City, bringing its established model to Bắc Ninh with the Hồng Hạc City project. This initiative marks a significant step in the company's strategy to replicate its successful urban planning and development approach in new regions.

The Hồng Hạc City project is a joint venture between Phú Mỹ Hưng and Japan's Nomura Real Estate. It embodies the core philosophy of the late Chairman Lawrence S. Ting: to focus on the lasting positive impact of development rather than solely on immediate gains. This principle guided the creation of the Phú Mỹ Hưng urban area in South Saigon over 30 years ago, and it continues to inform the development of Hồng Hạc City.

When you go somewhere to invest, don't worry about what we can take away, but consider what we leave behind.

— Lawrence S. TingThe late Chairman's philosophy, which laid the foundation for Phú Mỹ Hưng's urban development model, is being extended to the Hồng Hạc City project.

Phú Mỹ Hưng's approach to urban development has been characterized by meticulous planning and a commitment to sustainability. The company famously organized an international urban planning competition in 1993, engaging global experts to create a blueprint for a modern, sustainable city. This forward-thinking strategy resulted in the Phú Mỹ Hưng urban area, recognized as a model of urban transformation in Vietnam. The company has consistently prioritized long-term value, continuously improving and upgrading the urban environment long after initial construction.

In 2024, Phú Mỹ Hưng announced its "Development 2.0" strategy, which focuses on enhancing residents' quality of life, service ecosystems, and overall living experience. This new phase emphasizes not just the handover of properties but also ongoing investment in landscaping, infrastructure, and community amenities. According to Trương Quốc Hưng, Deputy General Director of Phú Mỹ Hưng, the company's commitment to accompanying residents and adapting to evolving urban needs is a key differentiator. This dedication to continuous improvement ensures that the urban environment remains dynamic and meets the high expectations of its community.

Throughout the development process, we have always proactively updated the values of a modern city to meet the increasingly high demands of the community.

— Trương Quốc HưngDeputy General Director of Phú Mỹ Hưng, explaining the company's commitment to continuous improvement and adaptation in urban development.
DistantNews Editorial

Originally published by Tuổi Trẻ in Vietnamese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog