Central Vietnam economic zone seeks strategic investors for mega urban area projects

The Dung Quat Economic Zone (EZ) in the central province of Quang Ngai is expected to undergo a transformation with the recent approval of large-scale real estate projects.

Toward green and sustainable urban development

At the end of June 2025, Deputy Prime Minister Tran Hong Ha gave in-principle approvals to two major projects: the Southeast Dung Quat-North and the Southeast Dung Quat-South new urban areas.

The northern project spans approximately 1,320 hectares, featuring 1,668 villas and townhouses, an 18-hole golf course, and a projected population of nearly 86,000. Around 31 hectares are allocated for social housing.

The total investment is about VND27 trillion ($1.03 billion), including compensation, support, and resettlement costs.

Meanwhile, the southern one is slightly larger, covering around 1,377 hectares, with 935 villas and townhouses, an 18-hole golf course, and an estimated 68,700 residents. It includes over 24 hectares reserved for social housing, with an estimated total investment of VND27.5 trillion.

Both projects are scheduled for completion in 2037, with a maximum operational period of 70 years from the date land allocation decisions are granted to the investors.

Notably, the two urban areas will feature synchronous technical and social infrastructure, commercial housing, parks, squares, green spaces, tourism and resort services, accommodations, golf courses, and themed parks, serving both residential and urban needs.

According to Nguyen Hai Truong, deputy head of the Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority, said the investment approvals form a legal basis for selecting capable and experienced investors to implement the projects.

“Once implemented, these projects will help realize the vision of developing the Dung Quat EZ into a green, smart urban area with high standards, aiming toward a prosperous and sustainable coastal city,” he said.

Truong added that the Dung Quat EZ is expected to host modern new urban areas, with comprehensive infrastructure that provides high-quality housing, accommodation, and entertainment services.

This will contribute to fulfilling provincial master planning goals; accelerating urbanization; attracting residents, tourists, and investors; and improving living standards within the EZ, thus promoting socio-economic development, national defense, and security in Quang Ngai province.

Additionally, it will boost state budget revenue, create jobs, and provide vital support services for the province’s industrial development.

More urban areas to come

Regarding plans for the development of urban areas in the Dung Quat EZ, Truong said that from now to 2030, key socio-economic infrastructure projects will be implemented to attract both domestic and foreign strategic investors, aiming to speed up the urbanization in the EZ.

Urban areas expected to emerge include Binh Son, Ly Son, and Tinh Phong. After 2030, the EZ will focus on integrated development across manufacturirng, services, commerce, finance, culture, eco-tourism, resorts, and premium entertainment, in alignment with national defense and security priorities.

Particularly, the emphasis will be on modern, synchronized infrastructure based on the green and smart city models, moving toward prosperous and sustainable coastal and island urban areas.

“Attracting real estate investment is the foundation for realizing Dung Quat’s green, smart urban development goals,” Truong said.

To draw investment into the property sector, he noted that in addition to a clear and robust legal framework set by the government, the authority is also implementing various strategic measures, including promotion campaigns to highlight the potential of the Dung Quat EZ and Quang Ngai’s industrial parks, and investing in transportation infrastructure upgrades.

Dung Quat EZ is home to the Dung Quat Oil refinery, the first refinery in Vietnam.