Thu Thien New Urban Area Spotlight: 8 Functional Areas

Thu Thiem NUA is just across the Saigon River from District 1 and Ho Chi Minh City’s established CBD. The NUA in Thu Duc spans 657 ha.

Thu Thiem NUA was first conceptualised by French architects in the 1960s and has undergone substantial changes since its first conception. In 2012, the HCMC People’s Committee issued Decision 5139, amending and supplementing Decision 3165 to approve the planning of Thu Thiem NUA and granted its master plan with a scale of 1/2000.

Thu Thiem is built to be a financial, entertainment, residential, and commercial hub in the region, with world-class services and amenities. It will signify the remarkable economic development HCMC has experienced over the last 20 years. Its comprehensive planning and investment strategies mean Thu Thiem will be home to elite residential complexes and offices, which will ease the pressure central districts face.

Discover the immense potential of Thu Thiem.

Thu Thiem has become a major hotspot for real estate development. Rapid growth and urbanisation in Ho Chi Minh City have driven demand in new urban areas like Thu Thiem. With significant capital gains over the last few years, we look at why Thu Thiem has the potential to become the new financial, commercial, residential and entertainment hub in the region. 

Prime Location 

Thu Thiem sits across the Saigon River from the existing centre of Ho Chi Minh City. There are several existing and planned bridges that will connect Thu Thiem to District 1,4,7 and other parts of the city. Thu Thiem and District 2 are gateways to nearby provinces such as Dong Nai, Binh Duong, and Ba Ria – Vung Tau. Thu Thiem also has a strategic connection to the future Long Thanh International Airport, which will be a hub for the international transit of both people and goods. This will support investment in Thu Thiem in the future.

Smart Planning

Thu Thiem NUA has a comprehensive master plan and is divided into eight subdivisions. The HCMC People’s Committee has collaborated with experts to deliver this plan. The subdivisions have been specifically zoned. As such, construction densities and public spaces correlate to the specific land and area use. The comprehensive planning means the area has attracted the attention of leading developers from across Asia, including SonKim Land, Keppel Land, Lotte, GS E&C, and Gaw Capital.

Capital Investment

Thu Thiem is set to be a new financial, commercial, and entertainment hub in Southeast Asia. It has already received significant infrastructure investment. Thu Thiem 2 Bridge opened in early 2022, and construction on Thu Thiem 4 Bridge has started. Roads such as Mai Chi Tho and Dong Van Cong will connect Thu Thiem to Vo Chi Cong Road and Cat Lai Port.

Natural Terrain

Before 2000, development in Thu Thiem was a concern because the land was marshy and surrounded by the Saigon River. However, with careful reclamation and investment, the land is now functional. Its position next to the Saigon River is now one of its key selling points.

Its proximity offers commercial, entertainment, leisure, and transport advantages. Many of the properties in Thu Thiem have beautiful views over the river and lush landscaping. Unlike Thao Dien, Thu Thiem is on higher ground, which means it is less susceptible to flooding. The natural water features like lakes and rivers will also reduce urban heat, which will allow occupiers to cut their carbon footprint and air-conditioning bills. It will also make living and working in Thu Thiem more comfortable.

Development History

Given HCMC’s continued economic and population growth and limited land supply, Thu Thiem has quickly become the most sought-after area in the city. Land prices for Thu Thiem have increased rapidly. In the early 2000s, land prices in Thu Thiem were only VND 4 to 10 million/m2. However, Thu Thiem now has some of the most expensive land banks in the country.

Viet Nam is one of the fastest-growing economies in Southeast Asia and continues to receive healthy inflows from foreign and local investors. As such, Thu Thiem NUA is primed to become a regional hub.

8 Functional Areas in Thu Thiem NUA

Thu Thiem NUA is divided into eight functional areas. Each area has a designated use, carefully planned public spaces, and defined building densities. There will be an array of high-end residential and commercial areas that cater to elite occupiers from around the world. Many properties are under construction and will start welcoming tenants and residents soon, including

Functional Area 1

A multi-functional commercial and service centre along Arc Boulevard and Central Square. This area is home to some of the most exclusive real estate projects in Thu Thiem, including exhibition and convention centres, museums, and an opera house. It is expected to be the shopping and leisure centre of the city, with high-end offices for more than 80,000 working professionals according to Thu Thiem NUA planning website.

Notable projects:

• The Metropole Thu Thiem

Functional Area 2

South of the Central Core Area, Functional Area 2 is divided into three areas:

• 2A: Located north of the East-West Boulevard, the area is reserved for Lotte Group’s Eco Smart City and several other projects. The total investment will total over US$2 billion.
• 2B: Home to Empire City, a joint venture of Keppel Land, Tien Phuoc and Gaw Capital Partners with more than an investment of US$1.2 billion.
• 2C: Part of Thu Thiem central Core and serving as the sports and entertainment complex, with an investment of VND 8 trillion from Vingroup.

Highlights of Functional Area 2 are 88 Empire City Tower, gymnasiums and sporting arenas, international schools, canals, and the Saigon Riverfront Park. Similar to Functional Area 1, towers here will be arranged along Arc Boulevard and Central Square. Residential projects in Functional Area 2 will be able to house most residents in Thu Thiem NUA. Estimates expect more than 32,000 residents in the future.

Notable Projects:

• Eco Smart City
• Empire City

Functional Area 3

Surrounded by the Central Lake, Functional Area 3 will have the lowest building density compared to other areas along the river. It will comprise residential and commercial areas. It will have the second-largest residential area in Thu Thiem NUA (just behind Functional Area 2), and a variety of facilities, including private and international schools.

Notable projects:

• The River
• Thu Thiem Zeit River

Functional Area 4

Located in the North of Thu Thiem NUA, Functional Area 4 serves as a residential area with commercial buildings. Villa and townhouse projects and public areas are close to the Saigon River and Ca Tre Canal. The area will offer a variety of public amenities such as local administrative buildings, a community centre, and a fire station. 

Notable project:

• Thu Thiem Lakeview

Functional Area 5

This Functional Area will focus more on community functions, with a community centre, children's centre, urban and local administrative buildings, private schools, and gas stations. Projects are arranged along the East-West and North-South Highway.

Notable projects:

• Sala Urban Area

Functional Area 6

Located along East-West Highway and in the middle of the canals of Thu Thiem Peninsula, Functional Area 6 will be the research, science, and technology hub. It will have a capacity for 54,800 professionals. Functional Area 6 is connected to public transport routes, delivering access to the rest of the city. Commercial buildings, residential apartments and townhouses are surrounded by international hospitals, bus routes and subway lines connecting to an IT park.

Notable projects:

• Sadora
• Sari Town

Functional Area 7

Located at the easternmost point of Thu Thiem NUA, the area has hotels, resorts, and a marina. The yacht port will include commercial centres, restaurants, and other leisure facilities. Binh Khanh Resettlement Area will house resettled landowners.

Notable projects:

• Binh Khanh Resettlement Area
• New City Thu Thiem

Functional Area 8

Functional Area 8 will be the ecological development area in southern Thu Thiem that will deliver lush green spaces. This conservation area is essential for the city’s sustainable development and will contribute greatly to the ecology of the urban environment.

There are currently three planned developments, including a water park, a botanical garden and research facility and a green resort. These projects have been carefully researched and funded.