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Prime real estate projects stalled in Da Nang

Prime real estate projects stalled in Da Nang

Thursday, May 16, 2024, 13:44 GMT+7
Prime real estate projects stalled in Da Nang
A suspended project on Son Tra Peninsula in Da Nang City, central Vietnam. Photo: Doan Cuong / Tuoi Tre

A series of real estate projects in prime coastal locations in Da Nang, Vietnam are currently abandoned, and have been so for years.

The coastal road from Hoi An City in neighboring Quang Nam Province to Da Nang’s Ngu Hanh Son District is filled with such deserted projects.

Among them, the DAP tourism area spanning dozens of hectares is in a state of disrepair, with the property's interior overrun by weeds.

The DAP tourism area project was kick-started in October 2020. It is part of the DAP - DAP1 - DAP2 tourism complex covering 39 hectares of land and requiring an estimated investment of some VND5 trillion (US$194.9 million).

The project is situated along a coastline section in the south of Da Nang.

It was designed to include high-end hotels, apartment buildings, villas, a resort, and auxiliary facilities, such as a convention center, restaurants, an entertainment area, a healthcare area, and a three-hectare park, Tai Nguyen & Moi Truong (Natural Resources & Environment) newspaper reported.

The abandoned DAP tourist area in Da Nang City. Photo: Doan Cuong / Tuoi Tre

The abandoned DAP tourist area in Da Nang City, central Vietnam. Photo: Doan Cuong / Tuoi Tre

Not far away is the Non Nuoc sea tourism area project covering some 3.7 hectares of land, which remains a patch of sand.

The administration in Da Nang handed over land to I.V.C. Co. Ltd. to execute the project in 2014. The I.V.C. chairman was Phan Van Anh Vu, who is in jail for many violations.

The project is located in a prime site in Da Nang, specifically next to the sea and opposite the Ngu Hanh Son (Marble Mountains) landscape.

In 2018, the municipal People’s Council decided to take back the land to make room for a public park. However, the plan remains on paper, according to news site Vietnamnet.

The Non Nuoc sea tourist area project has been suspended for over a decade. Photo: Doan Cuong / Tuoi Tre

The Non Nuoc sea tourist area project has been suspended for over a decade. Photo: Doan Cuong / Tuoi Tre

In the Da Nang Bay area in Hai Chau and Thanh Khe Districts, the major Da Phuoc international urban area project with many modern items is a mess.

The Da Nang authorities approved the project with an investment of over $300 million and an area of some 210 hectares in 2005, Nha Dau Tu (Investor) magazine reported.

The project includes The Sunrise Bay with an area of 181 hectares, which is now full of trees and weeds, and Thanh Binh shophouses and villas spanning 29 hectares.

The Government Inspectorate proposed that the prime minister ask the Da Nang government to reclaim the project as it was related to Phan Van Anh Vu as well.

However, hundreds of people have been living there since 2017. They have repeatedly suggested that local authorities ensure their interests.

Iron and steel bars rust at the construction site of The Song resort in Da Nang City. Photo: Doan Cuong / Tuoi Tre

Iron and steel bars rust at the construction site of The Song resort in Da Nang City, central Vietnam. Photo: Doan Cuong / Tuoi Tre

Son Tra Peninsula in the namesake district is also home to various suspended projects and desolate villas.

Most of these projects were originally put on hold due to criminal proceedings against owners.  

The Government Inspectorate said it was working out solutions to restart the projects and would submit them to competent agencies for approval.

Dozens of ‘ghost villas’ on the Son Tra Peninsula in Da Nang City. Photo: Doan Cuong / Tuoi Tre

Dozens of ‘ghost villas’ on Son Tra Peninsula in Da Nang City, central Vietnam. Photo: Doan Cuong / Tuoi Tre

The Government Inspectorate earlier conducted an inspection and pinpointed many violations at projects on the Son Tra Peninsula in Da Nang City. Photo: Doan Cuong / Tuoi Tre

The Government Inspectorate earlier conducted an inspection and pinpointed many violations at projects on Son Tra Peninsula in Da Nang City, central Vietnam. Photo: Doan Cuong / Tuoi Tre

The Da Phuoc international urban area project in Da Nang City has been deserted for years. Photo: Doan Cuong / Tuoi Tre

The Da Phuoc international urban area project in Da Nang City, central Vietnam has been deserted for years. Photo: Doan Cuong / Tuoi Tre

Unfinished buildings at the Da Phuoc international urban area project in Da Nang City. Photo: Doan Cuong / Tuoi Tre

Unfinished buildings at the Da Phuoc international urban area project in Da Nang City, central Vietnam. Photo: Doan Cuong / Tuoi Tre

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Thanh Ha - Doan Cuong / Tuoi Tre News

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