Central Vietnam hub Danang seeks investors for large-scale urban area projects

The Management Board of the Chu Lai Open Economic Zone plans to open bidding for two large-scale urban developments in the central Vietnam city of Danang, with combined investment of nearly VND20.8 trillion ($794.27 million).

The projects – the southern Nguyen Tat Thanh mixed-use urban area and the Truong Giang riverside urban area – received in-principle approval in February and will select investors through bidding.

Proposed by Geleximco Group, the southern Nguyen Tat Thanh mixed-use urban project will span more than 296 hectares in Quang Phu ward and is designed for a population of about 8,000.

The development will include townhouses, villas, social housing, resettlement land plots, and commercial, service and tourism facilities. Total planned housing supply is 3,468 units and plots, comprising 194 townhouses, 343 villas, 2,611 social housing units, and 320 resettlement lots.

Total investment is estimated at nearly VND17.8 trillion ($679.71 million), including more than VND16.1 trillion ($614.8 million) for construction and about VND1.6 trillion ($61 million) for compensation and site clearance.

The project is scheduled for implementation from 2026 to 2038, with a 50-year operating term. Infrastructure and facilities will be rolled out in phases from the Q2/2027 through Q1/2038.

The second project, Truong Giang riverside urban area, proposed by Green Industrial Chu Lai, will cover more than 74 hectares across Quang Phu and Ban Thach wards, with an expected population of around 3,200.

It will provide approximately 785 housing units and plots, including 260 townhouses, 100 villas, 100 resettlement plots, and 325 social housing apartments

In line with regulations, at least 20% of residential land (excluding existing and resettlement housing) must be allocated for social housing development.

Total investment is estimated at nearly VND3 trillion ($114.56 million), including more than VND2.7 trillion ($103 million) in construction costs and about VND310 billion ($11.84 million) for compensation and resettlement.

The project will be implemented from 2026 to 2034 in three phases, with infrastructure development scheduled from Q2/2027 to Q1/2034. It will also operate under a 50-year term.

Authorities said the two projects aim to expand urban space, upgrade technical and social infrastructure, improve environmental quality, and create new architectural landmarks to support investment, trade, services and tourism growth in Danang.