The project is planned on an area of 254.51 ha. Phase 1, covering 99 ha, received an investment certificate June last year.
VSIP urban area is built as a new residential model consistent with the desire to live in a clean and green environment with reasonable costs of Quang Ngai locals. The project is expected to put around 6,500 houses on the market and attract over 34,600 residents.
Director of VSIP Quang Ngai Anthony Tan said that with a design close to nature, 15% of the urban area is covered by trees. The VSIP Park covers an area of 21.000m2 designed by Singaporean consultants, consisting of gardens, fitness equipment, an outdoor jogging track and children's entertainment area.
In addition to the park, the company is also building VSIP Plaza Trade Centre with food services such as restaurants, cafes and shops to meet the needs of local residents.
Land clearance and construction started in mid-February 2016 and 24 ha in Phase 1 will be completed by year-end, including Thien Loc Residential Area, VSIP Park, and VSIP Plaza Trade Centre.
The VSIP model was established in 1996 in Binh Duong province on the basis of co-operation and support between Vietnam and Singapore. Since then, the VSIP expanded to seven locations across the nation: a second park in Binh Duong province in 2005, VSIP Bac Ninh in 2007, VSIP Hai Phong in 2010, VSIP Quang Ngai in 2013, VSIP Hai Duong in 2015 and VSIP Nghe An in 2015.
As of June 2016, the industrial park chain has attracted US$8.5 billion from nearly 600 enterprises in 30 countries and territories, investing in electric-electronics, pharmaceuticals and healthcare, precise engineering and automation, food and beverages, and supporting industries. The VSIP has been remodelled from a traditional industrial park to an integrated township and industrial park with new urban solutions.
