The deployment of a series of new large-scale real estate projects in Da Nang during this year is highly expected to give urban areas of the city a modern facelift. One of the most noticeable highlights is the debut of some burgeoning urban areas in the western part of Da Nang along the extended Hoang Van Thai route and a bypass to the south of the Hai Van Tunnel.

A corner of the site already planned for the development of four urban areas in the western part of Da Nang

Construction work is progressing well at the Royal Da Nang Boutique Hotel & Condo site, previously known as Nagomi Waterfront Tower, covering an area of over 3,125 m².

Located in a prime location in the heart of Da Nang, with a stunning view of the iconic Han River, in Binh Thuan Ward, Hai Chau District, the project shows of unique Japanese design style.

Initially developed by the Sun Frontier Investment Co.,Ltd., the 29- storey-plus- 2-basement project develops a diverse product range with a total of 288 luxury and serviced apartments and 125 hotel rooms.

In 2020, the Danh Khoi Group acquired 100% capital from the Sun Frontier Investment Co.,Ltd. to officially become the new investor of this large-scale project, marking one of the most prominent M&A (merger - acquisition) deals in the tough year.

In addition to the presence of prominent projects in the inner city, Da Nang government has approved the invitation of bids for the development of four urban areas totalling more than 2,290 billion VND, the Management Board of the Da Nang Infrastructure Construction and Urban Development Projects said.

In detail, these are a 644.6 billion VND eco-villa complex west of a bypass to the south of the Hai Van Tunnel, a 579.7 billion VND eco-urban area north of Hoang Van Thai Street, a 661 billion VND eco- villas complex near the Truoc Dong Lake, and an over 661 billion VND eco-villas site east of a bypass to the south of the Hai Van Tunnel.

These projects are located around two major traffic axes, namely the extended Hoang Van Thai route and the bypass route to the south of the Hai Van Tunnel in Hoa Son and Hoa Nhon communes, suburb Hoa Vang District.

In particular, bidders who have been short-listed for Da Nang's upcoming contracts are domestically prestigious real estate firms boasting a highly financial capacity and potential, hereby promising the successful implementation of the aforementioned eco urban areas.

Once fully operational, the projects are expected to satisfy the accommodation needs of local residents, generate additional revenue to the Da Nang budget, and also importantly, trigger the progress of the western part of the city in line with the adjustments to the strategic master plan for major developments in Da Nang to 2030, with a vision to 2045.

By TRIEU TUNG- Translated by A.T