Sun Group starts building $3 bln commercial-entertainment complex in Vietnam’s largest city

Sun Group, one of Vietnam’s leading real estate developers, on Tuesday broke ground on a VND79.8 trillion ($3.03 billion) commercial and entertainment complex in the central coastal city of Danang.

The project, known as Danang Downtown, is located in Hoa Cuong ward along the banks of the Han River. It will feature an entertainment and cultural park, theaters, riverside retail streets, and extensive green space.

Its centerpiece will be a 69-story, 408-meter tower, which upon completion will become Vietnam’s second-tallest building after Ho Chi Minh City’s Landmark 81 (461 meters).

The tower will house a five-star hotel, grade-A offices, luxury apartments, a shopping mall, restaurants, bars, a convention center, and an observation deck.

The development is part of Danang’s ambition to position itself as a major urban hub. Following its merger with neighboring Quang Nam province, the city has become Vietnam’s largest by area at 11,859 square kilometers.

The city also boasts two UNESCO World Heritage sites, two airports (Danang and Chu Lai airports), and plans to establish Vietnam’s first free-trade zone and an international financial center.

In the first half of 2025, Danang welcomed 5.8 million overnight tourists, up 18.9% year-on-year, including 2.6 million foreign visitors, up 31.4%, according to the local statistics office.