Deawon Real Estate Joint Venture – Secures Prime A9 Vo Van Kiet Land in Da Nang for over 147 Million VND/m2

The Danang City People's Committee has announced its decision to recognize the auction result for the land use rights of parcel A9 located on Vo Van Kiet street, An Hai Dong ward, Son Tra district.


The winning unit is Deawon-Hoan Cau Joint Stock Company, based in Ho Chi Minh City. The winning land area is 1,608 m2, with a winning price of 147,083,907 VND/m2, which is 90,000 VND/m2 higher than the starting price.

As a result, the total value of the land is nearly 236.5 billion VND. The city’s People’s Committee requires that within 30 days from the date of issuing the land lease payment notice, the lessee must pay 50% of the rent, and the remaining 50% must be paid within 90 days.

The land is located in An Hai Dong ward, Son Tra district, with the intended use of commercial and service land, leased by the state in a one-time payment for the entire lease period. The land use term is 50 years. In terms of current status, the land has completed site clearance and has complete technical infrastructure; there are no attached assets on the land.

It is known that the A9 land has three frontages including Vo Van Kiet – Ngo Quyen – Pham Quang Anh streets, adjacent to the Hiyori Garden Tower project in Da Nang. The land was approved for adjustment in detailed planning at a scale of 1/500 by Da Nang People’s Committee in July 2020. Accordingly, the construction density here ≤ 53.3% (equivalent tower block ≤ 37.5%), land use coefficient ≤ 13 times. The maximum height of construction is ≤ 30 floors (including the podium block ≤ 5 floors), the maximum construction height is ≤ 110m.

Location of A9 Vo Van Kiet land. Source: Department of Natural Resources and Environment, Da Nang

Location of A9 Vo Van Kiet land – Photo: CTV

Regarding the winning unit, Deawon-Hoan Cau Joint Stock Company is a long-standing real estate business in Ho Chi Minh City, established in 2008. In October 2016, the company’s charter capital reached 196.6 billion VND, of which Daewon Co., Ltd held 51% and Hoan Cau Joint Stock Company (Hoan Cau Group) held 49%. In March 2018, Hoan Cau Group withdrew its capital, and instead, Rong Thai Binh Duong Co., Ltd took its place.

In July 2022, Daewon Co., Ltd divested its capital, and the new shareholders were Thien Anh Sai Gon Joint Stock Company holding 1.02% and Rong Thai Binh Duong Co., Ltd holding 98.98%. In March 2023, there was a further restructuring of shareholders when Rong Thai Binh Duong divested its capital and was replaced by Dai Phu Quy DL Co., Ltd holding 98.983%, while Thien Anh Sai Gon held 1.017%. Currently, Mr. Do Van Ha is the General Director cum legal representative.

Dai Phu Quy DL Co., Ltd was established in 2017 with a capital of 100 billion VND, contributed by two individuals including Mr. Le Thanh Nhan (holding the position of General Director cum legal representative) with 85% and Mr. Nguyen Duc Truong with 15%. At the beginning of 2018, Mr. Truong divested his capital, and instead, Mr. Nguyen Van Du took his place. In November 2018, two new shareholders appeared, including Mr. Nguyen Huu Duy (holding the position of General Director cum legal representative) with 85% and Ms. Nguyen Thi Thanh Lan with 15%. At the beginning of 2023, Mr. Duy divested his capital, and instead, Mr. Nguyen Quang Vinh held 85% of the capital and the position of General Director, while Ms. Lan continued to hold 15%.

Thu Minh

Previous articleReal Estate Business Lunar New Year Bonus: When Will Luxury Cars and Millions Come?
Next articleDoes the new law tighten speculation in real estate?