Da Nang has begun construction on the Da Nang Downtown mega-project worth nearly $3.3 billion, located on a prime riverside plot by the Han River. The highlight is a 69-story skyscraper that will become the second-tallest building in Vietnam.

On the morning of August 19, Da Nang officially broke ground on the Da Nang Downtown Cultural Park and High-End Entertainment, Commercial and Service Complex. With a total investment of approximately 79.79 trillion VND (around $3.28 billion), the project spans more than 76.9 hectares and is being developed on the site of the former Asia Park in Hoa Cuong Ward.

The project occupies a “diamond” location along the Han River, nestled between Tran Thi Ly Bridge and Tien Son Bridge, and is envisioned as the city’s new “fireworks stage.”

Planned as an international-scale destination for entertainment, shopping, and leisure, the complex will feature a cultural park, a 4,000-seat theater, museum, exhibition center, commercial-service area, and a night-time economy district.

At the heart of the development is a 69-story tower, standing at 408 meters, which upon completion will be the second-tallest structure in Vietnam, behind only Landmark 81 in Ho Chi Minh City.

Inspired by the five elements (Ngu Hanh), the tower’s design evokes the flowing silhouette of a white ao dai, with the spire forming a stylized flame. A circular opening at the top allows sunlight to pass through, symbolizing a “beacon” to guide the future.

The tower will integrate diverse facilities, including a five-star hotel, grade-A office space, luxury apartments, shopping mall, restaurants, bars, an observation deck, and a convention and event space. It is expected to become a new architectural icon for Central Vietnam.

Hồ Ky Minh, Vice Chairman of Da Nang People’s Committee, emphasized that following the administrative merger with Quang Nam Province, Da Nang is now the largest centrally-governed city by area in the country. It is being developed under two strategic plans: Vietnam’s first free trade zone and an international financial center.

“Da Nang Downtown comes at the right time, unlocking new development potential and enhancing the city’s economic competitiveness,” Minh said. “It reaffirms Da Nang as a city worth visiting, living in, and investing in.”

Ho Giap