PM okays over $10 bln urban area project in central Vietnam
The over VND260.3 trillion ($10.16 billion) Cam Lam New Urban Area project in the south-central province of Khanh Hoa has received in-principle approval from Prime Minister Pham Minh Chinh.
A corner of Cam Lam district, Khanh Hoa province, south-central Vietnam. Photo by The Investor/Bui Hoang.
Under his new decision, the project will cover more than 10,300 hectares in Cam Lam district and Cam Ranh town, including nearly 81 hectares of forest land that need land use purpose conversion.
It aims to develop a modern urban area with resorts, a 36-hole golf course, theme parks, residential and commercial housing for sale, lease, and lease-purchase.
The complex will feature around 58,576 villas and townhouses; 9,821 apartments; 33,000 social housing units, accommodating about 584,364 people. It will also serve as a regional training, research, and innovation center.
The Prime Minister has assigned the Khanh Hoa People's Committee to organize the selection of an investor for the project through a bidding process. Implementation timeline is from 2025 to 2037.
The local government must also establish binding commitments and conditions to ensure the investor meets the project's schedule and objectives.
It will be responsible for handling any violations by the investor, ensuring the effective use of land resources, and preventing waste if the project is not implemented.
In February 2024, Deputy Prime Minister Tran Hong Ha approved a master plan for the new Cam Lam Urban Area until 2045. The planned area covers the entire administrative boundary of Cam Lam district, totaling over 54,719 hectares (excluding the Thuy Trieu Lagoon area).
Under the master plan, Cam Lam is set to become the southern growth hub of Khanh Hoa and the south-central coastal region, contributing to the province’s ambition to become a centrally governed city.
Vietnam currently has six centrally managed cities, namely Hanoi, Hai Phong, Danang, Hue, Ho Chi Minh City, and Can Tho.
The district will be developed into a modern, international-standard airport town, focusing on coastal tourism, logistics services, finance, global innovation, education, healthcare, and cutting-edge research. The goal is to create a high-quality living environment with modern infrastructure.
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