A construction commencement ceremony of the Ocean Estates is held in Da Nang. The property developer VinaCapital Group will build the project on an area of 7.5ha with a total investment capital of nearly US$30 million. — VNS Photo Cong Thanh

The property developer VinaCapital Group has begun construction of the Ocean Estates on an area of 7.5ha with total investment capital of VND650 billion (nearly US$30 million) in the coastal Ngu Hanh Son District in Da Nang City.

Ocean Estates, the last residential beachfront project of the Ocean Resort, will be ready in late 2017 with 33 beach villas from three to five bedrooms on plot sizes from 929s.qm to 1,303sq.m.

Matthew Koziora, Director of Transaction VinaCapital said “We pioneered the second home market in Da Nang City back in 2009 and appreciate the higher standards now expected from our clients in today’s marketplace. We understand and appreciate the global trend of luxury and that the market is seeking a true luxury lifestyle by those looking for a true beach home experience.”

According to Vinacapital, the Ocean Estates is the last residential project that will be developed within the beachfront parcel of the Ocean Resort, the largest resort complex in the central region which was named ‘Best Golf Development’ on numerous occasions at the Asia Pacific Property Awards 2011-16. — VNS