The Da Nang Department of Construction has officially announced five real estate projects eligible to raise a total of more than 22 trillion VND (approximately 894 million USD) in housing investment capital.

These projects have received written confirmation of their eligibility to mobilize capital through forms such as equity contributions, joint ventures, business cooperation contracts, and strategic partnerships with organizations and individuals.

Accordingly, Vinpearl Joint Stock Company is permitted to raise 16.85 trillion VND (around 684 million USD) to develop the Van Village Tourism and Urban Complex project located in Hai Van Ward.

With a total investment of 44 trillion VND (approximately 1.78 billion USD), this is one of the city’s largest projects and plays a strategic role in the development of tourism and urban infrastructure in northern Da Nang.

Thuan Phuoc Bay Urban Investment Joint Stock Company is authorized to mobilize 2.139 trillion VND (approximately 86.9 million USD) for the Thuan Phuoc New Urban Area project in Son Tra Ward.

With a projected total investment of 11.5 trillion VND (roughly 467 million USD), this project aims to develop a modern, smart urban zone fully equipped with high-end amenities for residential, commercial, service, entertainment, cultural, and tourism needs. According to the environmental impact assessment submitted by the investor, the project includes land reclamation activities. Marine species found in the area are reported to be common and not classified as rare or endemic.

Next, Vipico Co., Ltd. is approved to raise 1.764 trillion VND (about 71.6 million USD) for The Legend City Danang, a mixed-use development of commercial centers, hotels, and apartments located in An Hai Ward.

The Financial and Enterprise Development Joint Stock Company is authorized to raise 800 billion VND (approximately 32.5 million USD) for the technical infrastructure investment of the Thuy Tu Tourism Urban Area (Phase 2) in Hai Van Ward.

Meanwhile, Northwest Real Estate Trading Joint Stock Company is permitted to mobilize 651 billion VND (roughly 26.4 million USD) for the Model Urban Area in Northwest Da Nang (Phase 1), situated in Ban Thach Ward.

Alongside the announcement, the Da Nang Department of Construction emphasized that all investors and participating contributors must strictly comply with legal regulations to ensure transparency and safety throughout the capital mobilization process.

According to guidelines, participating organizations and individuals may only receive profit-sharing in the form of cash or shares based on their contractual equity ratio. Project developers are prohibited from distributing housing products, offering home purchase rights, or accepting reservations unless the capital is contributed toward forming a new legal entity appointed by the state as the project investor.

The capital raised must be used exclusively for the development and execution of the housing project and cannot be diverted for other projects or purposes.

Notably, if a project or housing unit is currently under mortgage, developers can only raise capital after the mortgage registration is canceled or the collateral is partially released in accordance with legal procedures.

In addition, the combined value of mobilized capital and the developer’s own equity must not exceed the total approved investment capital for the project, including land use fees and land lease payments as stipulated by Vietnam’s land laws.

Ho Giap