Da Nang has seen a remarkable increase in mergers and acquisitions (M&As) transactions amongst small to large-scale real estate projects. Many real estate investors have transferred the ownerships of their projects to others.

The construction site of the Condotel Ariyana Beach Resort and Suite Da Nang project which is being developed by the Thien Thai Company

As a result, the city’s real estate market has been more vibrant, and there has been a significant decrease in the number of delayed projects across the city due to a shortage of capital.

Specifically-mentioned have been the purchases of the Golden Square and Foodinco Plaza Complex projects by the Alphanam Group based in Ha Noi, and a real estate project on Pham Van Dong Street by the Kim Long Nam Joint Stock Company from the Phuong Trang Real Estate Company.

Another notable transaction has been the purchase of the Sheraton Grand Danang Resort by the the USA-based BRG and Marriott International from the Vinacapital.

So far this year, the city authorities have granted investment licences for 6 new domestic projects. In particular, many new projects have gone on track, including the 5-star over 500 billion VND (equivalent to over 21 million USD) TMS Luxury Da Nang Hotel developed by the TMS Group.

In April alone, the PPC An Thinh Da Nang Company officially inaugurated the 5-star Anh Duong-Wyndham Soleil Da Nang hotel-apartment complex on Pham Van Dong in Son Tra District. The complex comprises four 50-to-57-storey luxury apartment blocks.

Mr Bui Duc Long, Chairman of the Board of Directors of the Vicoland Development House and Construction Group, remarked Risemount is a chain of high-end real estates, hotels, residences and resorts, and it is one of the first Vietnamese brands who meet the most rigorous international standards.  His group has chosen Da Nang to be the first place in Viet Nam to introduce the Risemount domestic brand to the public because of the local favourable geographic position.

Currently, the Da Nang government is making every effort to attract new investment projects to effectively use the local existing land funds.

Top priority is being given to issuing more preferential policies for both domestic and foreign investors, accelerating administrative reforms, improving investment infrastructure, and maintaining an open, fair, transparent, and healthy investment environment for domestic and foreign businesses.

Also, importance is being attached to listening to ideas and suggestions given by economic experts, investors, and local residents in order to promote the city’s socio-economic development.