Da Nang’s housing market is well on its way to recovering from the recent slump caused by the Covid-19 pandemic.

Work is underway at the Golden Square hotel-apartment-commercial complex project

In particular, the city has seen a boom in the number of high-end apartment projects.

In mid-May, work restarted on the Premier Sky Residences project, located on Vo Nguyen Giap in Son Tra District, after 2 months of construction suspension due to the coronavirus pandemic. Developed by the city-based Minh Dong Company, the project features a total of 486 luxury seafront apartments and 300 high-class hotel rooms.

Meanwhile, the Ha Noi-based Alphanam Group is in a hurry to accelerate the construction progress of two housing projects in the heart of the city. They are the Marriott Courtyard & Marriott Executive Apartments on the west side of the Han River Bridge, and the Golden Square hotel-apartment-commercial complex project featuring 4 facades on Pham Hong Thai, Nguyen Thai Hoc, Yen Bai and Nguyen Chi Thanh streets. Once fully operational, the two projects will provide a sum of 661 high-end apartments and 288 luxury hotel rooms for those in need.

Most recently, the Da Nang authorities have granted the permission for the city-based Tuyen Son Housing Development Co.,Ltd, to build a complex for residential and commercial-office uses at a total cost of nearly 2 trillion VND (over 84 million USD), in Hai Chau District’s Hoa Cuong Nam Ward.

Covering an area of 18,296m², the project will be bounded by Quy My Street to the north, Nguyen Lo Trach Street to the south, the city branch of the Ha Noi University of Home Affairs to the west, and Tran Dang Ninh Street to the east.

The project is expected to be completed in January 2022. Once completed, the project will offer 1,196 apartments for sale and lease under the national laws.

Hoang Van Thai Street

Also, the city-based Thinh Khang An Co.,Ltd, has received approval from the municipal government to construct a high-class education, healthcare and apartment complex at the land lot B3 at the southern side of the Tran Thi Ly Bridge in My An Ward, Ngu Hanh Son District.

The 1,118 billion VND, 12,311m² complex will consist of a hospital, guesthouses offering overnight accommodation for relatives of patients attending this hospital, and a training centre with a 6-storey-podium each, plus two 29-storey apartment blocks.

The project aims to meet growing demand for medical check-ups and treatment of local residents, and train human resources for healthcare facilities, as well as provide the best possible health services and care for the elderly.

Mr Lam Quang Binh, Director of the city-based IBSC Investment and Business Services Co., Ltd., said that many foreign investors are showing their keen interest in pouring money into the city’s housing projects, and the tourism real estate and luxury apartment projects are emerging as their priority choices. He explained the reason that real-estate investors feel safe in these types of investment at present and in the future.

Under Da Nang's master urban plan for its progress by 2030, with a vision towards 2045, four ecological urban projects will be developed on the northern side of Hoang Van Thai Street, on the eastern and western sides of the Nam Hai Van-Tuy Loan bypass, and near the Truoc Dong Lake in Hoa Vang District’s Hoa Nhon Commune.

These above-mentioned projects will together offer nearly 5,000 lots of residential land, more than 500 apartments, 500 villas and 2,000 adjacent houses.

By TRIEU TUNG - Translated by MAI DUNG