Investors visits the introduction of the Green City in Da Nang. The 15.5ha urban project with a total investment of VND180 billion (US$8.6 million) will offer 500 land plots for villas and terraced houses in 2015.The project was co-invested by the Green Land joint stock company and the Dat Quang Group.— VNS Photo

DA NANG (Biz Hub) — The central Green Land Joint-stock company and Dat Quang Group signed a construction co-operation agreement for the 15.5 hectare- Green City project totally worth VND180 billion (US$8.6 million) last week.

The project, which has completed the land clearance and infrastructure stage, offers 500 plots with various designs of park and river-view villas, terraced homes as well as a golf course and river view front villas, once ready by 2015.

The Green City, which is situated on the coastal road, is 10 kilometres from Da Nang and Hoi An, 2 kilometres from Ngu Hanh Son stone art village and 500 metres from the Non Nuoc public beach.

It would attract real estate investors as it faces the Co Co River – a major tourism waterfront from Da Nang to Hoi An, and closely connects with other international standard coastal resorts, golf courses and luxury urban projects in the city's southern region.

Mock-up demonstration of the Green City project introduces in Da Nang city yesterday.— VNS Photo

The company's General Director Tran Ngoc Thanh said the plots on this project are priced competitively when compared with the surrounding luxury real estate projects including Da Nang and Montgomerie Links golf courses and the Ocean Villas. It can also compete with the Empire, the Duns and the Hyatt Regency resort in terms of pricing.

He said the project also includes a yacht harbour on the Co Co River for cruise tours between Da Nang and Hoi An.

According to Savills Viet Nam, Da Nang property developers plan to focus on coastal resort projects in the future.

Many of the hotels and coastal resorts in Viet Nam are located in Da Nang, and 14 projects in the pipeline – including 48 hotels – will add more than 1,400 lodging options to the already saturated market.

Despite the stagnant market, the central city has seen rapid urbanisation, luring a huge labour force from neighbouring provinces as well as overseas. In the future, resort projects in the coastal Ngu Hanh Son and Son Tra districts will be prioritised. — VNS