According to the provincial Department of Construction, the approved properties include 624 apartments in two mixed-use buildings and 248 detached houses, comprising villas and townhouses.

Reference perspective of a park inside the project.

The approval follows confirmation from the Ministry of National Defense, Military Region 1, and the Ministry of Public Security that the project is not located in an area subject to national defense or security restrictions, making it eligible for foreign home ownership under current regulations.

The decision comes as Bac Ninh continues to attract strong foreign direct investment (FDI).

In the first six months of this year, the province recorded more than $9.86 billion in newly registered and adjusted investment capital, ranking fourth nationwide behind Thai Nguyen, Ho Chi Minh City, and Hanoi.

According to a report released last year by Knight Frank Vietnam, more than 12,000 foreigners have purchased homes in Vietnam since the country began allowing foreign ownership, with most purchases concentrated in Hanoi and Ho Chi Minh City.

The consultancy expects demand to continue rising, driven by urbanization, sustained FDI inflows, and the growing number of foreign professionals working in Vietnam.

Bac Ninh has also seen a steady increase in its foreign workforce. By the end of May, about 3,085 businesses in the province employed more than 32,460 foreign workers.

By the end of 2025, more than 40,000 foreigners were living in Bac Ninh, while authorities recorded over 205,000 temporary residence registrations by foreign nationals during the first 10 months of the year.

The foreign population is expected to continue growing in 2026 and 2027.

Hong Hac City covers nearly 198 hectares at the southern gateway of Bac Ninh Province, bordering Hanoi's Gia Lam area.

The project is being developed by Vietinbank Trade - Union Investment Joint Stock Company, with Phu My Hung Development Corporation and Nomura Real Estate Vietnam, a subsidiary of Japan's Nomura Group, participating in its development.

The project's master plan includes residential areas, commercial facilities, schools, green spaces, and other public amenities.

According to the developer, more than 1,000 villas and townhouses in Hong Phat - the project's first subdivision, have already been granted land use rights certificates.

The project's second model home is scheduled to open on July 18, following the launch of the first model home on June 13.

The first phase of the Hong Phat subdivision, Zone F1-1, is expected to be handed over by the end of this year.

Under Vietnam's 2023 Housing Law, foreign organizations and individuals are only permitted to own commercial housing in projects situated outside of national defense and security restrictions.

Foreign ownership is capped at 30% of the apartments within a single condominium building. For detached houses, including villas and townhouses, foreign buyers may own no more than 250 units within an area equivalent to a ward-level administrative unit.

Foreign ownership is valid for up to 50 years from the date the ownership certificate is issued and may be extended once upon request.

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