Le Hong Phong Avenue and Nguyen Trai Bridge anchor a new commercial corridor in Hai Phong

Main avenues in large cities often evolve into commercial hubs, concentrating retail, shopping centers, dining, and entertainment and building long-term appeal for residents and visitors. In Vietnam, major boulevards similarly guide commercial development, with Le Hong Phong Avenue in Hai Phong serving as a clear example of the “infrastructure first, commercial services follow” model.

Le Hong Phong Avenue: “Wall Street” style concentration

Le Hong Phong Avenue links the city center with Cat Bi Airport and is described as Hai Phong’s “Wall Street” due to the dense presence of financial institutions, banks, insurance firms, and securities businesses. The avenue also hosts supermarkets, department stores, wedding venues, and entertainment options, supporting a steady flow of customers and services.

Under the 2025 adjustment plan for the Ngã 5 – Cat Bi Airport New Town, the area is expected to continue developing into a modern urban structure. The plan also includes adding a metro line along the Le Hong Phong – Nguyen Trai axis, reinforcing the road’s role in Hai Phong’s urban backbone.

Why shophouses along major boulevards attract demand

For the lower-rise real estate segment, shophouses along the avenue are highlighted for three advantages: strong visibility from wide frontage; flexibility to monetize different business models such as showrooms, food and beverage, retail, banks, and offices; and the potential for stable rents by converting traffic flow into revenue. On major boulevards, shophouses are positioned not only as residential products but also as income-generating assets.

Nguyen Trai Bridge and the VSIP North–South corridor

While Le Hong Phong reflects the vibrancy of Hai Phong’s older center, the VSIP North–South Boulevard is emerging as a continuation in the Bắc sông Cấm area—described as the city’s new growth frontier. Since mid-2025, the Bắc sông Cấm Administrative Center has begun operating, creating a workplace for many departments and agencies. This shift is expected to drive demand for trading services, dining, offices, and lodging, laying the groundwork for a new commercial space.

Nguyen Trai Bridge is central to this corridor. The project has total investment of over VND 6,235 billion and began construction at the end of 2024. By early 2026, reported progress is about 36–50% depending on the package, with a target to complete and put into operation in 2027. The bridge is intended to connect the existing city with the Bắc sông Cấm new urban area and strengthen links to major industrial zones including VSIP, Tam Hưng – Ngũ Lão, and Thủy Nguyên.

From an urban development perspective, the VSIP North–South corridor is expected to become the region’s main commercial axis. It would extend from Le Hong Phong Avenue and connect directly to Cat Bi Airport, combining infrastructure, regional connectivity, and momentum from the new administrative center.

Traffic and design parameters supporting shophouse leasing

Once Nguyen Trai Bridge is completed, the VSIP Avenue is expected to attract substantial traffic from the VSIP industrial park, nearby megacities, and flows between the old center and Bắc sông Cấm as well as Vu Yen. The corridor is described as having a width exceeding 80 meters, with sidewalks on both sides up to 27 meters, creating conditions viewed as favorable for shophouse development and commercial leasing.

The Greenery 2: a project aligned with the new commercial corridor

In Hai Phong’s 2026 infrastructure context, The Greenery 2 is presented as a notable project within the Hai Phong VSIP megacity area of 1,100 hectares. The project covers 3.45 hectares and includes shophouses and adjacent townhouses. It is planned as a gated compound with two entrances, and includes an integrated school and an internal park.

Pricing highlights

The article highlights the following price points: front-facing shophouses along Le Hong Phong Avenue have reportedly reached about VND 250 million per square meter, while The Greenery 2 shophouses are selling from VND 80 million per square meter, indicating “meaningful growth potential.” The three-story townhouses start from VND 5.2 billion, positioned for both living and investment near Nguyen Trai Bridge and the Bắc sông Cấm Administrative Center.

Strategic location on the Nguyen Trai – Vu Yen axis

Strategically located on the Nguyen Trai – Vu Yen axis, The Greenery 2 is described as benefiting from capturing traffic and service demand from the existing center, Bắc sông Cấm, the VSIP industrial park, and surrounding areas. The shophouse axis along the avenue is characterized as particularly suitable for business models, services, and space leasing as local infrastructure continues to mature.

Outlook: commerce tends to follow major avenues

Urban development experience cited in the article suggests that when a major avenue forms, commerce tends to develop early and sustainably. In Hai Phong, Le Hong Phong Avenue is described as having been a symbol of a dynamic development axis, while the corridor via Nguyen Trai Bridge to the VSIP avenue is opening a new layer of commercial space. In that context, The Greenery 2 shophouses are presented as having a basis to capture business opportunities and increase value as Bắc sông Cấm becomes more complete.