The Da Nang Department of Construction has already announced a list of 11 future commercial housing projects across the city that are eligible sale, lease, lease purchase deals.

A view of the Coco Ocean Resort of the Empire Residences & Resort by the Thanh Do Investment Development and Construction JSC

The projects are the Zone E of the Phuong Trang high-rise commercial urban complex invested by Phuong Trang Investment Corporation, FPT Plaza apartment building by FPT Urban JSC, the Central Coast hotel and apartment complex by the Minh Dong Tourist Service and Trading Co. Ltd., the Hoa Khanh Industrial Park social housing apartment complex by the Green Realty Sai Gon Thuan Phuoc Corporation, the technical infrastructure project at the Thuy Tu tourist urban area with the construction of adjacent houses by the Financial and Business Solution JSC, the Vinacapital Danang tourist area (Block B of the Ocean Suites Area) by VinaCapital Danang Resort Co. Ltd., the Hoa Binh Green Da Nang complex by the Hoa Binh Co. Ltd, the Coco Ocean Resort of the Empire Residences & Resort by the Thanh Do Investment Development and Construction JSC, the Quang Nguyen Complex by the namesake company, the Future Property Invest seaside resort by the FPI Co. Ltd, the Alphanam Luxury complex of apartments, commercial services and hotels by the Alphanam Real Estate JSC.

According special notes released by the municipal Department of Construction, the developers of the above-mentioned projects, before selling or leasing unfinished properties, must obtain guarantees from eligible commercial banks as assurances of their financial obligations to buyers.

If property developers fail to hand over housing to buyers, despite commitments, banks will be responsible for returning a buyer's money, in line with signed contracts. In addition, this will help improve the sense of responsibility of investors.

Reporting by TRIEU TUNG – Translating by A.T