Central city draws in foreign-invested real estate projects
Da Nang (VNA) - The central city of Da Nang has officially handed over a licence to the VinaCapital Fund to build a 325 million USD urban centre in the eastern area of the city.
The 9-ha urban area, the largest real estate project in the city to date, will house two shopping centres, covering 30,000 square metres each, two hotels with around 600 rooms in total, and a 25,000-square metre convention and exhibition centre.
Apart from a 42-storey office building, VinaCapital will also build more than 1,000 high-grade apartments and villas.
VinaCapital had previously been licensed by the Da Nang People’s Committee to build a 36-hole golf course, a five-star resort, hotels and luxury villas in the city.
Covering 260 ha in Ngu Hanh Son district, the project is being built to the tune of 130 million USD.
With the two projects, VinaCapital emerged as the biggest foreign investor in Da Nang city.
In another move, Da Nang city and the Kreves Development Company from the Republic of Korea signed an agreement on the construction of a 200 million USD apartment, office and trade building complex in Hai Chau district.
The complex will house 1,600-apartments, a 42-storey office building, a shopping area, an international school and an entertainment centre.
The developer hopes to meet the housing demands of RoK workers as well as foreigners who are working in industrial zones in Da Nang city and neighbouring areas.
Considered the most attractive destination for foreign investors in the central region, Da Nang city has since the beginning of this year licensed 17 foreign-invested projects worth 424.7 million USD, bringing the total numbers to 108 and 1.4 billion USD, respectively.
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