Da Nang is about to have another urban area project worth nearly 18 trillion VND

The mixed-use urban area south of Nguyen Tat Thanh Street in Quang Phu Ward, covering over 296 hectares, has just received investment approval with a total capital of nearly 18,000 billion VND.

Information from the Chu Lai Open Economic Zone Management Board (under the Da Nang City People’s Committee) indicates that the mixed-use urban area project south of Nguyen Tat Thanh Street has been approved for investment and will select an investor through a bidding process.

The urban area is located in Quang Phu Ward, Da Nang City (formerly part of Tam Ky City, Quang Nam Province), covering approximately 296 hectares, with an estimated population of 8,000 people. The total investment is estimated at over 17,785 billion VND, with an operating period of 50 years.

The project is oriented towards developing into a modern urban area with diverse types of housing, services, and green spaces, while also renovating the existing area to synchronize infrastructure and improve the quality of life. The project comprises approximately 3,468 housing units of various types, including 194 townhouses, 343 villas, approximately 2,611 social housing units, and 320 land plots for resettlement. The project also allocates at least 20% of the land with completed infrastructure for the development of social housing as per regulations.

According to the plan, the project will be implemented from 2026 to 2038. The investor selection process will begin in the second and third quarters, and the construction of the basic infrastructure and other works is expected to be carried out in phases from the second quarter of 2027 to the first quarter of 2038.

Following the merger, the Da Nang real estate market is considered to be entering a phase of expanding development space as land resources, coastline, and urban development potential increase significantly. Connecting infrastructure between Da Nang and the former Quang Nam region helps form a continuous development axis from the center to the south, creating momentum for large-scale urban projects, resort real estate, and industrial zones.

Along with this, investment capital tends to return, especially in the apartment, land plot, and new urban development segments, thanks to expectations of long-term planning, logistics development, seaports, and new service centers.

Phuong Uyen