Danang’s Real Estate Market: 2 New Projects
In June, the Danang Construction Department announced that 117 units (27 units in the first batch, 23 in the second, and 67 in the third) comprising 77 terraced houses and 40 villas at the Tuyen Son Residential and Service Area project (in Hoa Cuong Nam ward, Hai Chau district) developed by Landcom JSC are eligible for sale as future construction according to regulations.
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Landcom Investment JSC, headquartered in Hanoi, currently has a charter capital of VND 400 billion, with Mr. Tran Van Long as Chairman of the Board and Mr. Nguyen Xuan Duc as General Director. |
The Tuyen Son Residential and Service Area project covers approximately 3.6 hectares, with plans to construct 156 terraced houses and 63 villas. Landcom initiated the project in late March 2024 with a total investment of nearly VND 1,000 billion. The project is expected to be implemented from the second quarter of 2024 to the fourth quarter of 2025.
The Danang People’s Committee approved the investment on July 30, 2019, and the first investment adjustment was made on November 6, 2023. According to Landcom, the project has completed technical and social infrastructure systems to meet the residential needs of the people.
 Tuyen Son Residential and Service Area project illustration
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Also in June, the Danang Construction Department announced that nine apartments (batch 5) and three units (batch 6) at the Asiana apartment project (commercially known as Shizen Nami, formerly Asiana Danang) are eligible for sale as future construction according to regulations.
Thus, Shizen Nami has had 96 apartments eligible for sale as future construction after six batches. The project covers an area of 4,309 square meters and consists of two buildings, each with 34 floors above ground and three basement floors, housing 487 apartments. The project, which broke ground in 2021, is located on Nguyen Tat Thanh Street, Hoa Hiep Nam ward, Lien Chieu district, with Asiana Paramount JSC under Gotec Land JSC as the investor.
According to our research, the selling price of Shizen Nami apartments is expected to range from VND 65-70 million per square meter. With an area ranging from 54 to 108 square meters, each apartment is estimated to cost between VND 3.5 and 7.5 billion.
Shizen Nami Danang project illustration
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Quang Ninh: 1 Project
On June 28, the Quang Ninh Construction Department announced that 135 shophouses at the Urban Area project in Km3, Km4, Hai Yen ward, Mong Cai city (phase 1) are eligible for sale, lease, or lease-purchase as future construction. The project is invested by Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex, HOSE: VCG)
The project covers an area of nearly 43.9 hectares, including over 10.5 hectares of residential land comprising 375 terraced houses, 372 shophouses, and 35 villas; nearly 2.2 hectares of commercial and service land with a construction density of 50% and a height of 11-17 floors; the rest is for traffic, technical infrastructure, and other purposes, spanning over 31.1 hectares. The total investment is about VND 1,154 billion.
Urban Area project in Km3, Km4, Hai Yen ward, Mong Cai city illustration
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Hoa Binh: 1 Project
On June 28, the Hoa Binh Construction Department announced that 122 houses in the Residential Area project in ward 10 (now Yen Phong ward), Hang Tram town, Yen Thuy district, Hoa Binh province, are eligible for sale as future construction.
The project is invested by a joint venture between Hoa Binh Housing Development JSC and Da Hop Trading JSC, both located in Hoa Binh province. The project covers an area of nearly 2.9 hectares and comprises 10 villas and 122 terraced houses. The total project cost is nearly VND 244 billion.
Nghe An: 1 Social Housing Project
On June 25, the Nghe An Construction Department announced information about the Social Housing Area project for workers and employees in the Southeast Economic Zone, located in position 1, Nghi Xa commune, Nghi Loc district, invested by Kim Thi Real Estate JSC, which is eligible for sale and lease.
Accordingly, four social housing blocks, KT1, KT2, KT3, and KT4, have a total of 300 apartments, with a temporary selling price of VND 11.5 million per square meter and a rental price of VND 80,000 per square meter. With an area ranging from 37 to 65 square meters, each apartment is estimated to cost between VND 430 million and VND 750 million. The registration period is from June 25 to July 25, 2024.
The worker housing project covers an area of over 4.37 hectares and is expected to meet the housing needs of about 1,700 workers and employees in the Southeast Economic Zone. The total investment is over VND 320 billion, and the project scope includes seven five-story apartment buildings with about 539 apartments and 23 adjacent three-story houses, expected to be completed in 2024.
In January 2022, the project was approved for investment by the Nghe An People’s Committee, and in December 2021, the detailed planning at a scale of 1/500 was approved.
Illustration of Kim Thi Real Estate JSC’s social housing project in Nghi Xa commune, Nghi Loc district
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Binh Dinh: 3 Social Housing Projects
On June 24, Tan Dai Minh Investment JSC announced the issuance of registration dossiers for purchasing and lease-purchasing social housing apartments at the Tan Dai Minh 2 Social Housing project (Lamer 2) – batch 13, located in area 5, Quang Trung ward, Quy Nhon city. The deadline for issuing dossiers is July 25, 2024.
Lamer 2 has a total investment of nearly VND 769 billion and is the second social housing project invested by Tan Dai Minh JSC on an area of 13,423 square meters. Of this, nearly 5,613 square meters are allocated for social housing, and nearly 2,685 square meters are for adjacent commercial houses; the rest is for traffic, technical infrastructure, parks, and green spaces.
The project has a total of 851 apartments, including three blocks of 23-story apartments (including a technical floor and a roof), expected to be completed in the fourth quarter of 2024. The temporary selling price is nearly VND 14.9 million per square meter (excluding VAT and 2% maintenance fee). With an area ranging from 54.44 to 70 square meters, each apartment is estimated to cost between VND 800 million and VND 1 billion.
Tan Dai Minh was established in May 2017 with an initial charter capital of VND 20 billion, comprising five shareholders: Mr. Le Van Luong holding 45%, Mr. Vo Quoc Tung with 35%, Mr. Le Cong Thanh (Director and Legal Representative) with 10%, Mr. Nguyen Truong Vy with 5%, and Mr. Vo Van Hai with 5%.
In October 2023, Tan Dai Minh increased its capital to VND 223 billion, with Dai Thanh Wood Technology JSC holding 30.926%, Mr. Thanh holding 29.074%, Mr. Hai holding 25%, Mr. Tung holding 10%, and Mr. Vy maintaining 5%.
 Lamer 2 Social Housing project illustration
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On June 16, the Binh Dinh Construction Department announced the sale of 200 social housing apartments in the Solrise Nhon Phu Social Housing project, Nhon Phu ward, Quy Nhon city (batch 2), invested by Solrise Nhon Phu JSC. The deadline for receiving purchase applications is August 15. Previously, in May, this social housing project sold 209 apartments (batch 1)
The project has a total investment of nearly VND 727 billion (excluding compensation, site clearance, land use, and land rent costs) and was inaugurated on January 26, 2024. It is expected to be completed in the first quarter of 2026. The planning area is 3.81 hectares, and the expected population is over 2,300 people.
The average selling price of social housing is about VND 12 million per square meter (excluding VAT and 2% maintenance fee). With an area ranging from 35 to 68 square meters, each apartment is priced between VND 420 million and VND 820 million.
Solrise Nhon Phu was established in August 2023 with a charter capital of over VND 145 billion. The company consists of two shareholders: Construction C BHI JSC, holding 85%, and THC Housing Development Investment JSC, holding 15%. Mr. Chu Minh Huan serves as the Legal Representative and Chairman of the Board of Members.
Who are the notable investors in the Nhon Phu 2 social housing project in Binh Dinh?
 Nhon Phu 2 Social Housing project illustration, Nhon Phu ward, Quy Nhon city
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In June, An Phu Thinh Investment, Construction, and Tourism JSC announced the receipt of registration dossiers for leasing 20 social housing apartments in the An Phu Thinh Social Housing project (batch 5). The deadline for receiving applications was June 29, 2024.
The An Phu Thinh Social Housing project is located in lot B1-32 of the new An Phu Thinh urban area, Nhon Binh ward, Quy Nhon city. The project covers an area of over 11,735 square meters, including nearly 9,391 square meters of social housing land. The total investment is over VND 681 billion. The project comprises three blocks of apartments with 740 units for sale and 186 units for lease. The social housing rental price is VND 113,246 per square meter per month (excluding VAT)
Established in 2005, An Phu Thinh operates primarily in the real estate business. Ms. Ngo Thi Thu Hoa serves as the Director and Legal Representative, and as of November 2022, the company’s charter capital was over VND 574 billion.
An Phu Thinh Social Housing project in the new An Phu Thinh urban area
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Thua Thien Hue: 1 Social Housing Project
On June 4, the Thua Thien Hue Construction Department announced the sale of 146 out of 182 apartments (equivalent to 80% of the apartments sold to beneficiaries of social housing support policies) in the XH2 block of the Ecogarden social housing and high-rise apartment complex project, located in the OXH1 area of the Thuy Van Complex Phase 2 project (commercially known as Ecogarden) in the B-An Van Duong new urban area.
The project is invested by a joint venture of three companies: Cotana Group JSC, Telin Group JSC, and Cotana Capital Real Estate Investment and Development JSC.
The Ecogarden urban area covers an area of nearly 45 hectares within the 1,400-hectare An Van Duong new urban area. The total investment is about VND 4,000 billion.
Cotana Capital invests in social housing in Ecogarden with a scale of over 1,000 apartments on an area of 3.5 hectares in two land plots coded OXH1 and OXH2.
OXH1 covers an area of about 1.49 hectares, with plans for four blocks of high-rise social housing, including one basement and 15 floors, comprising 723 apartments. OXH2 spans over 2.03 hectares, with six blocks of low-rise social housing ranging from four to eight floors, offering 362 apartments. The apartments feature one to three bedrooms and range from 32 to 74.9 square meters.
Illustration of social housing at the Thuy Van Complex Phase 2 (commercially known as Ecogarden) in the B-An Van Duong new urban area
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The XH2 block (belonging to OXH1) has 15 floors and one basement, with 182 apartments, built on an area of 1,104 square meters. The average selling price is nearly VND 16.6 million per square meter (including 5% VAT and excluding 2% maintenance fee). With an area ranging from 43 to 73 square meters, each apartment is priced between VND 700 million and VND 1.2 billion.
Hung Yen: 2 Social Housing Projects
On June 14, Lac Hong Phuc Investment and Development JSC sent a notice to the Hung Yen Construction Department regarding the registration for purchase, lease, or lease-purchase of 56 social housing units in the Lac Hong Phuc Social Housing and Commercial Housing project. The deadline for receiving applications is July 14.
Previously, in January, March, April, and May, Lac Hong Phuc JSC announced the sale of a total of 144 social housing units in the project. The apartments offered for sale range from 47 to 60 square meters, with prices ranging from over VND 11.5 million to VND 13.5 million per square meter, or about VND 600 million to VND 800 million per unit, as announced in previous batches.
Also in June, the Hung Yen Housing Development and Construction JSC, the investor of the Hung Yen Social Housing project for low-income earners in Hien Nam ward, Hung Yen city, sent a notice to the
