The Da Nang Department of Construction has just announced a list of 11 projects that are allowed to put their future-to-be-developed housing units up for sale. These projects were developed from 2019 to the first quarter of 2022.

A social housing apartment complex in the Hoa Khanh Industrial Park by the Sai Gon Thuan Phuoc Green Real Estate Joint Stock Company eligible for sale. (Photo: thuonghieucongluan.com.vn)

Eligible projects for sale in Hai Chau District are the Filmore apartment project developed by the Filmore Real Estate Development Joint Stock Company (206 apartments), a housing complex on the eastern side of Tran Dang Ninh Street by the Dat Xanh Mien Trung Joint Stock Company (96 adjacent houses).

In Son Tra District, there is the Central Coast hotel and apartment complex by the Minh Dong Tourist Service and Trading Co. Ltd., (340 apartments).

In Ngu Hanh Son District, there are The Sang Residence apartment building by The Sang Investment and Construction Joint Stock Company (298 apartments),  apartment buildings FPT Plaza 1 and 2 by the FPT Urban Da Nang Joint Stock Company (a total of 1,286 apartments), the Empire high-class housing project developed by the Thanh Do Investment Development and Construction JSC (217 townhouses, villas HH4, HH6, HH7 and 700 apartments in the Co Co 4 Building - HH7).

In Lien Chieu District, there is the Zone E of the Phuong Trang high-rise commercial urban complex invested by Phuong Trang Investment Corporation (73 townhouses), the Asiana Luxury Residences Da Nang by the Asiana Paramount Co., Ltd (487 apartments), a social housing apartment complex in the Hoa Khanh Industrial Park by the Sai Gon Thuan Phuoc Green Real Estate Joint Stock Company ( 452 social housing apartments (280 apartments of E3, E4, 172 B2) with 188 commercial housing apartments (12 apartments of B1 and B1A, 176 apartments of B3), the B4 -1 housing apartment project at the Bau Tram Lakeside Green Urban Area by the Saigon - Da Nang Investment Joint Stock Company (1,032 social housing apartments and 274 commercial housing ones).

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