Danang city approves new luxury riverside apartment project

Authorities in Vietnam's central city of Danang gave the green light Friday to a VND629 billion ($25.1 million) high-end apartment project by the Han River.

The Elias Riverpark project will build a modern 29-floor and three-basement apartment complex serving residential, trade and tourism purposes with full support facilities including areas for community activities, kindergartens and parking areas, municipal officials said.

A new apartment building at Lot B4-3 of the Han River Tourist Service Area will partly meeting growing housing demand in Son Tra district, they added.

The project, covering more than 2,117 square meters, will have a floor area of 17,600 square meters for commercial apartments and 877 square meters for tourist apartments.

Work will be carried from the third quarter of 2024 to the second quarter of 2028. Its official operational period will last until October 30, 2062.

Vigorous development has been seen of late in the high-end apartment segment along the Han River, boosting the Danang real estate market.

Some of the projects that have been constructed or in the process of being built include The Filmore Danang; Olalani Riverside Towers; an apartment complex in the East of Tran Hung Dao street (HH3); Building B4-1 and Building B4-2 of the Han River Tourist Service Area project; The Sang Residence; and Peninsula Danang.