HCMC – Khanh Hoa Province has greenlit two mega-urban projects with a combined investment of nearly VND70 trillion in the Van Phong Economic Zone, according to local media.
On September 11, the province’s Management Board of Economic and Industrial Zones granted investment approval to a joint venture between Sun Phu Quoc and Halong Sun.
The Dam Mon urban area, approved in principle by the prime minister on June 30, will cover 1,440.29 hectares, with a population of around 28,540 people and a total investment of over VND25.6 trillion.
The project includes terraced houses, villas, apartments, social housing, along with service, tourism, and public facilities.
The Tu Bong urban area is larger, spanning more than 2,579 hectares across Van Thang, Tu Bong, and Dai Lanh communes, with a projected population of about 74,700 people and an investment capital of VND43 trillion.
The project comprises over 1,000 terraced houses, nearly 4,000 apartments, more than 1,100 social housing units, as well as infrastructure, commercial, and tourism facilities.
Both projects will operate for 50 years.
For the Tu Bong project, investor equity is VND6.45 trillion (15% of the total capital), with the remainder sourced from loans and mobilized capital. For Dam Mon, equity capital is more than VND3.84 trillion, with most of the remaining funds raised from other sources.
The Dam Mon and Tu Bong projects are expected to become key growth drivers of the Van Phong Economic Zone, contributing to the province’s goal of making Khanh Hoa a new growth hub of the south-central region.
