The Department of Construction of Khanh Hoa Province has announced that the Cam Ranh Bay Urban Area project is eligible to raise capital through investment cooperation and business partnerships.
In this phase, the developer is permitted to raise 24.5 trillion VND to construct facilities on the allocated land area.
Previously, the project had raised 55.768 trillion VND through various phases, along with 12.943 trillion VND in investor contributions. To date, the total raised capital reaches 68.711 trillion VND, ensuring it does not exceed the approved total investment amount.
The Cam Ranh Bay Urban Area project has a total investment of nearly 85.3 trillion VND (excluding compensation and resettlement costs). The capital raising period is tied to the project’s implementation timeline, from Q2/2023 to Q1/2027.
The project is developed by a consortium comprising Cam Ranh Investment JSC, Vinhomes JSC, and Vines Energy Solutions JSC.
Rendering of the Cam Ranh Bay Urban Area.
According to the master plan, the Cam Ranh Bay Urban Area spans approximately 1,250 hectares, divided into three zones across the wards and communes (pre-merger) of Cam Lap, Cam Thinh Dong, Ba Ngoi, Cam Linh, Cam Loi, Cam Thuan, Cam Phu, Cam Phuc Nam, Cam Phuc Bac, and Cam Nghia in Khanh Hoa Province.
Upon completion, the project is expected to provide over 10,700 villas, approximately 8,400 townhouses, and nearly 19,800 social housing units, forming an urban complex with a population of more than 230,000. The project’s operational period is 50 years from the land allocation or lease date, with a 5-year implementation timeline (from Q2/2023 to Q1/2027).
The project’s operational period is 50 years from the date the investor receives the land allocation or lease decision. To date, the company has fulfilled its financial obligations for land use fees, totaling over 6.713 trillion VND, as confirmed by the Khanh Hoa Tax Department.
With its large scale and significant investment, the Cam Ranh Bay Urban Area is expected to become a major catalyst for Cam Ranh’s urban development and contribute to the socio-economic growth of Khanh Hoa Province, particularly in the southern gateway area.
Cam Ranh Bay is recognized as one of the three best natural deep-water bays in the world, alongside San Francisco Bay (USA) and Rio de Janeiro Bay (Brazil). Cam Ranh Bay covers a water area of approximately 60 km², with an average depth of 18–32 meters, surrounded by mountains that create a sheltered, calm-water environment year-round.
In 2019, the travel website The Culture Trip (UK) listed Cam Ranh among Southeast Asia’s top potential coastal destinations, describing it as a “hidden gem gradually awakening.”
“Industrial Capital” Set to Become a Centrally-Governed City, Welcoming a $52 Million Luxury Apartment Complex
Renowned as the industrial hub of Northern Vietnam, Bac Ninh is home to numerous major FDI corporations in electronics, technology, and semiconductors. Soon, the city will welcome a new landmark: a state-of-the-art commercial and luxury residential complex in Bac Giang Ward.
Unveiling the $260 Million Southeast Vietnam Drainage and Flood Control Project
The Suoi Cai Drainage Axis project in Ho Chi Minh City, with an investment of nearly VND 6,000 billion, is a transformative initiative. Designed to address flooding and improve drainage in the former industrial hub of Binh Duong, this project extends its benefits to the entire Southeast region. Flanking the drainage axis are newly constructed roads, complete with sidewalks and greenery, enhancing both functionality and aesthetics.
The Billionaire Behind Vietnam’s 2,870-Hectare Reclaimed Megacity and Its Multi-Billion-Dollar Projects: Two Decades of Silent Preparation by Pham Nhat Vuong
In 2024 and 2025, Vingroup unveiled a series of mega-projects spanning from North to South Vietnam. Yet, few are aware that behind the grand groundbreaking ceremonies lies a decade-long gestation period, sometimes exceeding 20 years. Vingroup’s relentless pursuit underscores a persistent market bottleneck—protracted legal procedures that perpetually stifle supply.
Unveiling the Strategic Moves of Industry Giants in Khánh Hòa Province
Khánh Hòa is poised to become Vietnam’s next high-growth hub, boasting a modern, smart, and sustainable urban ecosystem rich in cultural identity. This burgeoning region is increasingly captivating visionary Vietnamese investors with its unique appeal and strategic advantages, making it a land of promise for those seeking to make a distinctive impact.
Exploring Hanoi’s Largest Social Housing Project: Nearly 7,000 Units Adjacent to Sun Group’s 100-Hectare Park
Hanoi is set to launch two major social housing projects, Tiên Dương 1 and 2, located just 3 kilometers from Nhật Tân Bridge. Spanning nearly 85 hectares and with an estimated investment of over 16,000 billion VND, these projects will provide thousands of affordable homes for low-income workers upon completion.
