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Da Nang to Develop $2bn Condo, Casino Complex

The planned complex will be located directly across from My Khe Beach.

Tuoi Tre reports that Da Nang officials plan to accept bids on a land plot in Son Tra District that will be used for a US$2 billion condo, finance and casino complex.

Once the municipal People's Committee approves the plan, authorities will call for investment on the project, which would span 8.4 hectares of land and cover multiple functions. The land in question is located on the corner of Vo Van Kiet Street and the oceanfront Vo Nguyen Giap Street in Phuoc My Ward.

Under the government's vision, the development would include condos, hotels, a financial center, a casino, a convention center and a food court across twin towers.

The city Department of Natural Resources and Environment told the news source that three real estate developers have expressed interest thus far: T&T Group; Imex Pan-Pacific Co. Ltd; and a consortium of Sakae Holdings Ltd., Fission Holdings Pte. Ltd, and Newtecho IF JSC.

Bidding on the land is expected to take place in the third quarter of this year.

Da Nang is no stranger to ambitious developments talks.

In 2018, a group investors proposed a US$8 billion artificial island in the city's iconic bay. That same year, local officials discussed a plan to create a vague Dubai-style project along the coast.

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