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Nha Trang Is Selling Its Old Downtown Airport for $540m

The massive former US airbase located in downtown Nha Trang is set to become a mixed-used shopping development, Khanh Hoa authorities announced on Monday.

According to Thanh Nien, the old airport spans over 186 hectares in Nha Trang and is priced at VND12 trillion (US$540 million). While officials have yet to name the project's potential investors, Khanh Hoa authorities claim there are at least four interested parties.

In addition to a shopping and services development, director of the Khanh Hoa Department of Investment and Planning Tran Hoa Nam said roughly 10 hectares of beachfront property would be set aside for public facilities, including a park, museum and exhibition center, according to Thanh Nien.

Once a deal has been inked, authorities say VND5.5 trillion of the money earned from the sale will go toward Defense Ministry spending for Cam Ranh and Phan Thiet airports. Nha Trang's now-defunct downtown airport has been closed to air traffic since 2009. Before that, the facility served as a military airbase as well as a civilian airport at different points in time. Prior to 1975, it was used by American forces during the American War.

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