$681 mln central Vietnam urban area project eyed by Sun Group gets authorities' nod
A VND17.3 trillion ($681 million) urban area project that is drawing the interest of major realty developer Sun Group has received an in-principle approval from Khanh Hoa province's administration.
A view of Nha Trang town, Khanh Hoa province, central Vietnam. Photo by The Investor/Bui Thao.
The project will span 226 hectares in Vinh Thai commune and Phuoc Long ward in Nha Trang town. It is set to include 4,200 commercial houses, 1,500 social apartments, and 5.91 hectares dedicated to social housing development, accommodating up to 20,000 residents.
The total investment includes VND1.05 trillion ($41.67 million) worth of cost for compensation and resettlement. Construction is expected to begin in the first quarter of 2025, with a six-year completion timeline and a 50-year operational period.
Notably, the project is anticipated to feature a theme park and tourism accommodations, aiming to become a new destination for both locals and visitors, the provincial government said.
Earlier, Sun Group, among the largest real estate developers in the country, had asked for local approval to develop this project.
- Related News
- Read More
Vietnam's military-run telco giant Viettel builds one of Southeast Asia’s largest data centers
Military Industry and Telecoms Group (Viettel) has broken ground on a state-of-the-art data center in Ho Chi Minh City, set to become one of the largest in Southeast Asia and the first in Vietnam to have such a hyperscale capacity.
Industries - Wed, April 30, 2025 | 11:28 am GMT+7
Vietnam PM requests more aircraft, LNG, agi import contracts with US in May
Prime Minister Pham Minh Chinh has requested relevant Vietnamese authorities to urgently negotiate and sign contracts in May for import of goods from the U.S., such as LNG, aircraft, medicine, and agricultural products, to ensure a sustainable trade balance.
Economy - Wed, April 30, 2025 | 10:25 am GMT+7
Vietnam Party chief's address at national celebration of liberation of South and national reunification
Party General Secretary To Lam delivered an address at Vietnam's celebration of the 50th anniversary of the liberation of the South and national reunification held in Ho Chi Minh City on Wednesday April 30.
Politics - Wed, April 30, 2025 | 9:32 am GMT+7
Property heavyweight Sun Group’s affiliate to build $491 mln opera house in Hanoi
Sun City Limited Liability Company, an affiliate of Vietnam’s top real estate developer Sun Group, has received a preliminary in-principle approval from local authorities to build a VND12.75 trillion ($491 million) opera house in Hanoi.
Real Estate - Wed, April 30, 2025 | 8:00 am GMT+7
Australian scholar praises Vietnam’s remarkable 50-year transformation
In 50 years since the national reunification (April 30, 1975-2025), Vietnam has transformed from war-devastated developing country to a peacetime country that has attained lower middle-income status, said Prof Carl Thayer.
Politics - Wed, April 30, 2025 | 8:00 am GMT+7
Malaysia remains 9th largest global exporter of high-tech products
Malaysia successfully maintained its position as the ninth-largest exporter of high-tech goods out of 143 countries worldwide in 2023, the highest recognition it has achieved in the past decade, national news agency Bernama reported.
Southeast Asia - Tue, April 29, 2025 | 10:27 pm GMT+7
Insights into Decision 768 amending Vietnam's power development plan VIII
Prime Minister Pham Minh Chinh on April 15 issued Decision 768 approving Vietnam's Amended National Power Development Plan VIII for 2021-2030, with vision to 2050. Anh Dang, a senior partner at Vilaf law firm, offers an insight into the principal amendments to PDP VIII.
Consulting - Tue, April 29, 2025 | 4:36 pm GMT+7
From loss to profit: steel maker SMC sees stock rally, avoids delisting risk
Vietnamese steel manufacturer SMC Trading Investment JSC (HoSE: SMC) has seen its stock price soar nearly 60% since early April after the company turned its 2024 loss into profit over bad debt provision reduction.
Companies - Tue, April 29, 2025 | 3:45 pm GMT+7
Dairy giant TH plans $234 mln factory in southern Vietnam
A subsidiary of Vietnam’s dairy giant TH true MILK plans to develop a VND6.07 trillion ($234 million) factory in the southern province of Binh Duong.
Companies - Tue, April 29, 2025 | 3:19 pm GMT+7
Int’l organizations lower Indonesia’s 2025 economic growth forecast
Several international organizations in April revised their economic growth forecasts for Indonesia, reflecting concerns over escalating global trade tensions and domestic fiscal challenges.
Southeast Asia - Tue, April 29, 2025 | 2:30 pm GMT+7
Indonesia eyes more partnership with Vietnam in Halal-certified production, cosmetics
Indonesia, a Muslim-majority country, is eager to share its expertise in Halal standards and looks forward to collaborating with Vietnam in sectors such as food processing, cosmetics, tourism, and Halal financial services, said Agustaviano Sofjan, consul general of Indonesia in Ho Chi Minh City.
Companies - Tue, April 29, 2025 | 1:34 pm GMT+7
MSG producer Vedan Vietnam’s 2024 revenue drops 4% to $166 mln
Food seasoning maker Vedan recorded a revenue of $166 million in Vietnam last year, down 4% year-on-year, according to the 2024 performance review of the Taiwan-headquartered firm.
Companies - Tue, April 29, 2025 | 11:45 am GMT+7
Vietnam, Japan firms sign deals to develop innovation cooperation ecosystem
Businesses from Vietnam and Japan signed numerous MoUs aimed at developing a cooperation ecosystem in innovation and high-tech industries on the sidelines of a forum in Hanoi on Monday.
Economy - Tue, April 29, 2025 | 11:31 am GMT+7
Vietnam’s VPBank targets 35% annual credit growth over next 5 years
Vietnam’s leading private lender VPBank expects to post annual credit growth of 35% over the next five years after taking over weaker lender GPBank, said VPBank chairman Ngo Chi Dung.
Banking - Tue, April 29, 2025 | 8:17 am GMT+7
Japan seeks to implement 15 energy projects worth over $20 bln in Vietnam
Japan wants to execute 15 projects worth over $20 billion in Vietnam's energy transition field, said Prime Minister Ishiba Shigeru.
Economy - Mon, April 28, 2025 | 11:07 pm GMT+7
Malaysia highlights roles of ASEAN, BRICS in regional cooperation
Malaysian Foreign Minister Mohamad Hasan is scheduled to deliver a speech at a dedicated session themed “The Role of the Global South in Reinforcing Multilateralism,” held as part of the BRICS Ministers of Foreign Affairs Meeting in Rio de Janeiro, Brazil, from April 28-29.
Southeast Asia - Mon, April 28, 2025 | 10:10 pm GMT+7
