Thu Thiem - The aspiration of Pudong
June 29, 2021
Pudong, officially known as Pudong Xinku or "Pudong New District" is a district of the city of Shanghai, China. Since its development began in 1990, when the plan was first announced, Pudong has emerged as the financial and commercial center of China. Pudong stands out with the Oriental Pearl Tower, the Jin Mao Tower - a symbol of Shanghai and China's economic development.
Pudong began as an undeveloped plot of land bordering Shanghai's Old City and foreign concessions. The area was mostly farmland and was only gradually developed, with warehouses and wharves near the coast overseen by the Huangpu, Yangpu, and Nanshi districts of Puxi on the west bank. Pudong County was established in 1958 and until 1961 when it was divided into Huangpu, Yangpu, Nanshi, Wusong, and Chuansha Country. Pudong New Area was formed on October 1, 1992, when the previous Pudong County and Chuansha County amalgamated to become Pudong New Area.
In 1993The Chinese government established a Special Economic Zone in Chuansha, resulting in the Pudong New Area. The Lujiazui Finance and Trade Zone, located on the western edge of the Pudong area, has become modern China's financial hub. The Oriental Pearl Tower, as well as the supertall Jin Mao Building (420.5 m or 1,380 ft), Shanghai World Financial Center (494 m or 1,621 ft), and Shanghai Tower (632 m or 2,073 ft), were built, making it the world's first trio of adjacent supertall skyscrapers. These buildings, which are all visible from the historic Bund and run down Century Avenue, have become Shanghai's most well-known skyline.
Thu Thiem urban
The Thu Thiem Peninsula is the most important development region, located in the heart of Ho Chi Minh city. With 737 hectares, the Thu Thiem Peninsula is ideally located inside Ho Chi Minh City's Northeastern growth region, in a unique location immediately across the Saigon River as seen from District 1's downtown area.
Due to a lack of infrastructure connection with the existing metropolis on the other side of the Saigon River, the development of Thu Thiem land has been limited thus far. The development of Thu Thiem New Urban Area provides a unique chance to positively connect the riverbank to the metropolis. The Saigon River runs through the Thu Thiem peninsula for almost 8.5 kilometers.
For many years, the river served as the city's border, serving as a means of commerce and transit. The river will become an essential landscape as Thu Thiem develops, and improvements in the environment and traffic will highlight the overall quality of life and the urban environment, resulting in a New life full of vibrancy between Thu Thiem and the historic city center.
Dream of becoming "Pudong” Vietnam
Both are peninsulas and surrounded by large rivers. Thu Thiem and the Pho Dong are planned to face the city's historic districts across a river. If the Saigon River surrounds Thu Thiem Peninsula 3/4 of the way, Thu Thiem is located on the river's east bank; Shanghai's east is encircled by the Huangpu River to the west and the East China Sea to the east.
Because of the proximity to the old towns, this is advantageous for the quick development of urban regions, as well as for the transportation and work of residents.
Many similarities exist between Thu Thiem and Pudong as a starting point. The desire of Pudong at the time, to revive Shanghai's position as Asia's economic dragon, as well as the expectation of a new Thu Thiem district, would restore Saigon's status as "The Pearl of the Far East."
Development in Thu Thiem urban
Pudong is regarded as a "gold mine," with real estate investors flocking to the area regularly. Especially the Lujiazui Financial District, which has the most expensive commercial real estate in Shanghai at the moment. The price of luxury apartments in Lujiazui has risen dozens of times from 5000 USD/m2 to around 12,000 - 52,000 USD/m2 (the closer to the Huangpu river, the higher the price), yet the market is still full. Real estate on East Street is currently significantly more expensive to rent than in the ancient West section across the river.
Thu Thiem has had consistent economic growth from 2010 to the present. Real estate in Thu Thiem started at 2500 USD/m2 when it was originally launched in 2015. Currently, the price is between 5500 and 7000 USD/m2 (depending on product line and location). It is not simply a residential and commercial complex, but also the country's new financial center, with international clout. In other words, once constructed, it will improve the metropolitan landscape's aesthetic while also creating a community of wealthy and high-status residents.
Thu Thiem New Urban Area is a strategic project that will allow the city to develop more quickly in all areas and modernize its infrastructure. Ho Chi Minh City is on the level with Shanghai in particular, as well as other modern cities throughout the world.
In reality, even if financial issues relating to the national economy aren't taken into account, Thu Thiem's master plan has more than one reason to be convinced that it will be the better version of Pudong (Shanghai).