VietNamNet Bridge – The central city of Da Nang has shortlisted 12 coastal development projects whose business licences will be revoked next month because they have been two slow or unduly delayed.

The central city of Da Nang plans to revoke the licences of 12 slow coastal projects in the Son Tra Peninsula.

The city will also reclaim three beaches from domestic investors including De Nhat (First Class) tourism site and entertainment centre, Surfing and Recreational Sport Training Centre and the Bai Trem and Bai Rang Villa and eco-tourism site.

City officials also said that final decisions will be taken later this month on the Da Nang Property and Yacht Habour developed by a joint-venture between Quoc Cuong Gia Lai and Vinacapital; the Ghenh Ban-Bai Da Ecotourism site and the Temple project.

The municipal administration has called for strict inspections and review of several other projects including Asia Pearl, Nam Khang, IVC, Ha Noi-Non Nuoc, Luxury Villa and Apartment and Bai But in Son Tra Peninsula. These projects have been slow to commence work, even though investors had committed to start construction last year.

Last year, Da Nang had revoked two development projects in the downtown area, citing persistent delays.

Officials said no progress had been made on many projects that were granted permission in 2008, although some ground-breaking ceremonies were held five years ago.

A survey has identified 30 sluggish projects in Da Nang. The city saw a year-on-year decline of nearly 30 per cent in Foreign Direct Investment (FDI) projects in the first quarter of this year.

However, tourism real estate remains an investment magnet in this central city, attracting 25 (FDI) projects worth US$1.8 billion.

The city has so far attracted 305 FDI projects worth $3.37 billion.

Phoenix Beach

In related news, authorities in the south-central province of Khanh Hoa have decided to suspend the $1.25 billion Phoenix Beach Project.

The project's investor, India's Dewan International Viet Nam Company, was planning to borrow 80 per cent of the capital. The company will not be allowed to implement the project that covers more than 60ha along Nha Trang Beach. The original approval for the Phoenix Beach project covered an area of 74ha.

The project envisaged construction of many resort facilities as well as two high-rise buildings on Nha Trang Beach on an area running south of the Tran Phu Bridge. One of the buildings is to be 50-65 stories high, and the other is to be a five-star hotel. Construction of the buildings are allowed to continue.

Since the project was approved, locals have been protesting it.

The Khanh Hoa administration has also decided to close the Ana Mandara Resort and Guesthouse T78, which cover a large area of the east beach on Tran Phu Road.

The Ana Mandara Resort, operating since 1997, stands on a 26,000sq.m land plot with a 400m-long beachfront.

Guesthouse T78, owned by the Ministry of Public Security, was built 30 years ago on the beach to the south of Tran Phu Bridge. The site had been the office of Dr. Alexandre Yersin, a honorary Vietnamese citizen.

The provincial's People's Committee has granted land lots for relocating the two projects in Cam Lam District's Northern Cam Ranh Peninsula Tourism Complex.

The Ana Mandara Resort will be moved out in 3-4 years and the area will become a public park. Meanwhile, Yersin's office will be restored and maintained as a museum, according to Le Thanh Hoa, provincial Party Committee Secretary.

VNS