Trungnam Group triples investment for urban area project in central Vietnam

The Golden Hills City project, developed by Vietnam’s multi-sector Trungnam Group, has been approved by authorities in the central city of Danang to increase its total investment from VND4.4 trillion to nearly VND15.5 trillion ($589.6 million).

According to the municipal People’s Committee’s new decision approving the revised investment plan for the Quan Nam-Thuy Tu Eco-Urban Area (Golden Hills City), the project aims to develop a fully integrated urban area with synchronized technical infrastructure, social infrastructure, landscaping, and service facilities.

It also allows the transfer of land-use rights for plots with completed technical infrastructure to individuals for self-built housing in eligible areas, as well as the transfer of land to organizations for investment in construction works per regulations.

In addition, the project includes the development of townhouses, villas, apartment buildings, office buildings, commercial and service facilities for sale or lease-purchase. Land-use rights for serviced land may also be transferred to organizations for residential and commercial development.

The project covers a total area of more than 3.35 million square meters. Of which, nearly 1.2 million sqm or 36% of the total area are designated for residential use; nearly 772,000 sqm for green spaces; more than 1.02 million sqm for roads and technical infrastructure; nearly 123,000 sqm for commercial and service purposes; and over 111,000 sqm for social infrastructure.

Under the revised investment plan, the developer will continue constructing 3,020 low-rise residential units, including 1,717 townhouses and 1,303 villas, with a total gross floor area of approximately 1.41 million sqm.

The project also allocates land for organizations to develop 18 commercial and service buildings ranging from one to 55 stories, and six mixed-use apartment buildings combining residential and service functions, ranging from 3 to 27 stories.

It also includes 18 social infrastructure facilities, comprising 13 educational institutions from kindergarten through high school; two healthcare facilities; two sports complexes; and one cultural center. In addition, there are 18 commercial-service buildings ranging from one to 55 floors.

The project is expected to accommodate a permanent population of about 29,940, including around 9,726 living in the mixed-use apartment complexes.

According to the approved implementation schedule, the developer will complete the remaining legal procedures from Q1/2026 to Q2/2027, construct low-rise residential areas between Q2/2026 and Q4/2032, develop social infrastructure facilities from Q4/2026 to Q4/2034, and transfer commercial and mixed-use development sites and carry out construction between Q3/2027 and Q4/2034.

A Trungnam representative said that the investment plan revision approval marks a major milestone, officially removing long-standing legal bottlenecks and paving the way for the project to regain momentum.

“This represents a strong catalyst for a new phase of development, enabling the developer to fulfill all commitments made to customers and business partners while accelerating construction progress toward sustainable project operations,” he noted.

While awaiting the completion of legal procedures, the company said it will continue to listen to customers' feedback and requests carefully in order to develop appropriate solutions that protect the legitimate interests of customers and partners, he said.

With the revised investment plan now in place, the company will promptly conduct a comprehensive review of outstanding issues, proactively contact customers, address individual requests, thoroughly resolve pending matters, and fulfill its business commitments.

According to the representative, alongside resolving customer-related matters, Trungnam plans to accelerate business operations and invest simultaneously in key social infrastructure, including an inter-level school system, hospitals, sports complexes, and educational institutions at all levels.

The company believes these developments will help meet the growing demand driven by the increasing migration of residents to northwest Danang for living and working, while creating a higher-quality living environment for both project residents and surrounding communities, he stated.