The Da Nang Centre complex in Da Nang was one of 40 projects to have its construction licence revoked due to slow implementation.

The Da Nang Centre has been under construction for 10 years.

The municipal People’s Committee has approved a resolution on key projects in the 2016-2020 period and solutions to appeal for resources for their development.

Accordingly, the Da Nang Centre, which covers an area of around 8,000sqm had its licence withdrawn as the project was still not complete after 10 years.

The complex was planned to include a commercial centre, a five-star hotel, and a 35-storey luxury apartment building invested by the Vu Chau Long Real Estate Company with total investment of 125 million USD.

The construction of the project started in March 2008.

The city now plans to build a 4-storey car park on the site.

The municipal People’s Council proposed issuing bonds of some 3 trillion VND for construction after withdrawing the licence of the 40 projects.

(Source: VNS/ DA NANG Today)