Phan Thiet City's real estate market is expected to benefit from improved local infrastructure constructions.
The HCM City-Dau Giay-Long Thanh Highway was opened in February which shortened travel time between HCM City and Phan Thiet to over 3 hours.
The new Dau Giay-Phan Thiet Highway will shorten the travel time from HCM City to Phan Thiet to two hours once completed in 2017.
Construction will also start on the Phan Thiet-Mui Ne-Nha Trang Highway next year, underlining Phan Thiet’s likely improved attraction as a destination.
In addition the Phan Thiet Airport project, which was approved by the Ministry of Transport in 2013, has secured VND5.6trn (USD251m) in investment from the Rang Dong Group and is expected to completed in 2018.
The highways will boost the number of domestic tourists, while the new airport is hoped to bring more international visitors to the city.
The USD116m Ocean Dunes resort complex
Phan Thiet may become Vietnam's fastest developing tourism city when all the highways and airport are opened, said a leader from the Vietnam National Administration of Tourism.
As a result, house and accommodation prices have started to rise with more hotel and resort projects being considered. Some believe that Phan Thiet has even more potential for hotel and resort projects than Phu Quoc and Danang.
The Rang Dong Group is also investing in a 168-hectare Sea Links City resort complex in Mui Ne including a world-class golf course. It also recently announced a USD116m Ocean Dunes resort complex.