Da Nang approves US$520 million hillside urban project
DNO - The Da Nang People’s Committee has approved the investment policy for a major urban development project on the southeastern hillside area spanning Ba Na Commune and Hoa Khanh Ward, with a total capital of more than VND 13 trillion (approximately $520 million).
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The project, covering over 2.59 million square meters, will be implemented through a competitive bidding process to select investors in accordance with Vietnamese law.
It involves the development of a fully integrated and comprehensive urban area, including technical infrastructure, social infrastructure, landscaped spaces, and a wide range of supporting services and amenities.
It will feature commercial housing, as well as office, commercial, service, tourism, and accommodation facilities available for sale, lease, or lease-purchase in accordance with legal regulations.
In addition, land-use rights for areas with completed technical infrastructure within the project may be transferred to organizations for the development of housing and other construction works, in line with applicable laws and regulations.
A key feature of the project is its scale and housing capacity. Around 877,900 square meters have been allocated for residential development, including approximately 175,800 square meters, equivalent to 20% of the new housing land, for social housing, an effort to balance commercial growth with social inclusion.
In total, the development is expected to deliver about 922 landed houses and more than 14,200 apartment units, accommodating an estimated population of nearly 38,000 residents, alongside over 6,300 transient occupants.
The project will also allow the transfer of land-use rights with completed infrastructure to secondary investors for further housing and construction development.
The project is positioned to become a multi-functional urban hub, contributing to the expansion of Da Nang’s urban space toward the northwest corridor.
It is expected to enhance connectivity, support economic activities, and improve living standards in line with the city’s long-term development strategy.
The project has a 50-year operational timeline from the date of land allocation or lease. Capital mobilization is scheduled from the second quarter of 2026 to the end of 2032, with construction set to begin in late 2027 and full completion targeted for the fourth quarter of 2032.
As Da Nang continues to pursue sustainable urbanization, this project marks a significant step in shaping a modern, integrated, and resilient urban landscape.