Service began on Vietnam’s first ever metro in Hanoi with the public queuing up for rides on the highly anticipated rail line. Originally scheduled for completion in 2015, the project dealt with numerous delays over the years, including land acquisition issues, that saw it postponed multiple times.
However, all of that is in the past with the grand opening of the Cat Linh-Ha Dong line which runs from north-central Hanoi to the city’s southwest suburbs. The elevated train line covers 13 kilometers and cost USD868 million to complete, more than USD300 million more than original estimates.
For many people, it was worth the wait. VietnamNet Global reported a gathering at the Cat Linh Metro Terminal with riders eager to take a trip on Vietnam’s first metro line. It was noted that more than 25,000 passengers boarded trains on the inaugural day of service. Tickets are free during the first 15 days of operations.
The hope is that Vietnam’s first ever metro helps eliminate the congestion and traffic currently plaguing Hanoi. A second line, the Van Mieu Line, is tentatively set to open in 2023 while there are plans in place to expand service further in the coming years.
Benefits of Ho Chi Minh City Metro line already being realized
Despite not even being in service, the Ho Chi Minh City Metro line has already made its mark on the city. Home prices along Metro Line 1 increased by 25-75 percent from their launching price, according to a report from CBRE Vietnam.
“End-users and buy-to-let investors are advised to purchase residential units in developments located along metro lines within The Eastern City due to the better connectivity they offer to other areas within the city and to HCMC’s central business districts,” Dung Duong, Senior Director of CBRE Vietnam, told Vietnam Express.
Related: Home prices along Ho Chi Minh City Metro line skyrocket
