VietNamNet Bridge – The presence of big and reputable investors with high end resort and entertainment projects have helped upgrade the competitiveness of the Da Nang real estate market.

The map of the high grade resort real estate market of Da Nang has witnessed many changes recently, when a lot of luxurious resort projects, which are in no way inferior to other “hot points” in South East Asia, such as Bali in Indonesia or Phuket in Thailand, have been announced.

Most recently, Vinpearl has officially put Vinpearl Luxury Da Nang, a five star resort, a 200 room hotel and 39 villas into operation. The project is a part of the real estate giant to develop Vinpearl into the leading Vietnamese brand in luxury tourism. The brand plans to build 10 hotels and resorts with the facilities meeting 5-star requirements in the next five years.

Da Nang is the second locality chosen by Vinpearl to make investment, besides Nha Trang, where Vinpearl has also opened a resort with 84 standardized five star room, next to Vinpearl Resort and Spa and Vinpearl Land entertainment complex.

Nguyen Trong Hien, Chair of Vinpearl, said on Dau tu that Da Nang is the city with great tourism potentials, because it possesses the most beautiful beach in the planet. Also, it is surrounded by three world’s heritages, namely Hue ancient capital city, Hoi An ancient town and My Son relics.

Though Da Nang is trying to develop into a tourism urban area, a good city to live and the favorite destination in Asia, the tourism infrastructure has not well developed yet. Especially, the city is lacking the projects that serve high grade tourists, while the shortage would become more serious in the future, when Da Nang develops more rapidly.

Therefore, Vinpearl has decided to build up a high end tourism complex which can satisfy the demand and the taste for high end clients – Vietnamese and foreign tourists.

Not only Vinpearl, a lot of other well known hotel management groups in the world are also eyeing Da Nang. The British InterContinental Hotels & Resorts is preparing to take over a hotel with 585 rooms which operates under the brand of Crowne Plaza, and a resort on Son Tra peninsula which operates under a better brand - InterContinental Resort.

Meanwhile, the US- based Hyatt International Group will open Hyatt Regency Da Nang with 200 hotel rooms, 27 villas and 182 high end apartments this autumn. The attractiveness of Da Nang would even increase further with the appearance of two 18-hole golf courses The Dunes and Mongomerie Links, designed by two legendary golfers Greg Norman and Colin Montgomerie.

According to Hien, the above said factors, plus the operation of the new terminal at Da Nang Airport, have helped Da Nang grow up to compete with Bali and Phuket. The high grade hotels, golf courses, beaches, upgraded airport, plus the high quality services will decide if Da Nang can compete with well known tourism sites such as Bali and Phuket.

Therefore, Hien said, Vinpearl has set up specific standards for Vinpearl Luxury Da Nang in an effort to create a special project which provides high quality services with specific characteristics.

In related news, Phap luat has reported that the Da Nang People’s Committee has decided to revoke the licenses granted before to the two projects on building twin towers in the central area of the city. These include the Vien Dong Meridian Towers on the golden land area at No 84 Hung Vuong, registered by Vien Dong Real Estate Corporation, which was initially capitalised at 180 million dollars, and the project on Da Nang Center at NO 8 Phan Chu Trinh, which was capitalized at 125 million dollars, registered by Vu Chau Long Company.

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