Vietnam's major developer Tan Hoang Minh wants to make Da Lat 'Asia’s most livable town'  

Do Anh Dung, chairman of Tan Hoang Minh, on Tuesday proposed that authorities of Lam Dong province support the property developer in planning a 4,320-hectare smart urban area project in the resort town of Da Lat.

He made the proposal at a working session between Tan Hoang Minh and Lam Dong’s leaders in the Central Highlands province.

The meeting took place after Dung had received the Vietnamese State President’s amnesty in April on the occasion of the 50th anniversary of the liberation of the South and national reunification (April 30).

The company said it wants to have sufficient land in Xuan Tho commune for the project which features eco-urban and eco-tourism development and an international-standard film studio, with high-tech applications.

Once developed, the Xuan Tho satellite urban complex is expected to play a key role in easing the population density in the center of Da Lat by redirecting residents to the Xuan Tho area, a representative of Tan Hoang Minh said at the working session.

This will help create a favorable living and working environment, thereby boosting investment in the area, the representative said.

The project also aims to develop sustainable high-tech agriculture, creating livelihoods and enhancing local residents’ quality of life.

It includes eight functional zones designed to attract residents not only from Lam Dong province but nationwide.

“This area will become a sustainable development zone that does not harm the environment. We commit to investing professionally and scientifically if approved and supported,” the representative added.

Tan Hoang Minh said it also seeks to invest in large-scale projects in Lam Dong with swift completion timelines, helping position Da Lat and Lam Dong province among Asia’s most livable tourism and economic hubs in the future.

Tan Hoang Minh and Xuan Thien Group proposed to research and plan a closed-loop agricultural technology complex project in the province, in line with the government's encouragement.

Chairman of the provincial People’s Committee Tran Hong Thai said: "Lam Dong province always welcomes investors to do business, especially in the areas of its strength such as tourism and high-tech agriculture."

“If investors show goodwill and have sufficient capacity, the province will provide the most favorable conditions for them,” he added.

In January, Tan Hoang Minh proposed the central province of Quang Binh allow it to study the Bau Sen eco-resort project in Ngu Thuy and Sen Thuy communes, Le Thuy district.

The project covers approximately 1,655 hectares with a total investment of around VND15 trillion (roughly $575.07 million). It is planned as a high-end resort complex featuring functional zones, commercial service facilities, villas, hotels, restaurants, parks, and a golf course.

In April 2022, Do Anh Dung, chairman of Tan Hoang Minh, was detained by investigative police for allegedly “defrauding to appropriate property” regarding nine separate bond issuances totaling VND10,030 billion (about $439 million) in value by three companies under Tan Hoang Minh.

The State Securities Commission said the bond issues were done from July 2021 to March 2022 by Viet Star Real Estate Investment Ltd, Winter Palace JSC, and Soleil Hotel Services and Investment JSC.

The stock market watchdog called off the nine separate bond issuances, saying the three firms had “publicized untrue information, concealing information in separate bond issuances.”

In September 2024, the High-Level People's Court in Hanoi sentenced Dung to eight years in prison for masterminding the scheme to appropriate VND8.6 trillion ($329.7 million) from bond investors. Dung received the State President’s amnesty in April.

Situated on a plateau around 1,500 meters above sea level, Da Lat enjoys year-round cool weather that stands in contrast to Vietnam's tropical climate.

It used to be a summer hideout for French officials who built villas in the hills to escape the heat and humidity of the lowlands. Da Lat is also known as one of Vietnam’s biggest flower-growing regions.