Recent Investment Approval in Khanh Hoa Province
The Khanh Hoa Provincial People’s Committee has recently approved the selection of investors for the Cam Lam New Urban Area project, located in Cam Lam district and Cam Ranh city.
The winning bidder is the Cam Lam New Urban Joint Stock Company, a consortium of prominent real estate companies, including Vinhomes JSC (a member of Vingroup conglomerate owned by billionaire Pham Nhat Vuong), Phat Dat Real Estate Investment and Development JSC, Truong Loc Real Estate Investment and Development Co., Ltd., Green City Commerce and Construction JSC, and Phu Tho Land JSC.
The total investment capital for this project is estimated at VND 260,267 billion (excluding compensation and site clearance costs of VND 25,000 billion), equivalent to approximately USD 10 billion based on the current exchange rate.
Spanning over 10,356 hectares, the Cam Lam New Urban Area is envisioned to accommodate a population of approximately 584,000 people. As per the master plan, the project entails converting over 80 hectares of forest land. It will offer more than 110,000 residential units and land plots for villas, along with 9,820 apartments, over 33,000 social housing units, and a 36-hole golf course.
The project has a lifespan of 50 years, commencing from the date of the land handover decision. It is expected to be completed within a 12-year timeframe, from 2025 to 2037.
Cam Lam New Urban Area: Artistic Illustration. Source: ĐVTK
In March 2025, the Prime Minister approved the investment policy for the Cam Lam New Urban Area project. The project site encompasses Cam Duc town and several communes in Cam Lam district, as well as parts of Cam Ranh city, specifically Cam Thanh Nam ward, Cam Phuc Bac ward, and Cam Nghia ward.
The investment objectives of this project are multifaceted. It aims to develop a new regional complex urban center in Cam Duc town, integrated with the central axis of the urban area. Additionally, it will serve as the administrative and political hub for the entire urban area, housing financial, commercial, and service centers, as well as venues for international cultural exchange. The project also aspires to become a regional hub for training, research, and innovation, along with accommodating a substantial portion of the urban population and their primary activities.
Khanh Hoa Province Attracts Prominent Investors
A glimpse of Cam Lam district, Khanh Hoa province. Source: PQ
Khanh Hoa province, a coastal province in South Central Vietnam, approximately 400 kilometers from Ho Chi Minh City, has been witnessing a surge in interest from prominent real estate investors. Companies like Hung Thinh, Sun Group, and Becamex – VSIP have all directed their attention to this burgeoning market.
Specifically, in Cam Lam district, the provincial authorities have approved four large-scale complex urban projects with total investment capital amounting to tens of thousands of billions of VND. These projects include the Cam Hoa Complex Urban Area (with an investment of VND 5,240 billion and a scale of 298 hectares), Cam Thuong Complex Urban Area (nearly VND 6,000 billion and 295 hectares), Suoi Tan Complex Urban Area (over VND 5,100 billion and 236 hectares), and Cam Tan Complex Urban Area (over VND 5,730 billion and 292 hectares).
Tram Huong Tower on Tran Phu Street, Nha Trang city, Khanh Hoa province. Source: AK
During the regular meeting on socio-economic development held on June 4, 2025, the Khanh Hoa Provincial People’s Committee reported positive economic indicators for the province. In the first five months of 2025, the total retail sales of goods and services reached over VND 58,262 billion, a 14.5% increase compared to the same period last year. Tourism revenue amounted to VND 23,651 billion, marking an 18.1% rise. The province’s export turnover exceeded USD 1 billion, reflecting a 13.2% increase. Domestic revenue collection stood at over VND 9,406 billion, equivalent to 39% of the estimate, with domestic revenue surging by 37.2%.
Additionally, the province has successfully attracted 16 non-budget investment projects with a total registered capital of approximately VND 298,700 billion. Furthermore, delegations from the province have embarked on investment promotion trips to Singapore and Australia, aiming to forge partnerships with foreign businesses in priority sectors.
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