US$325Mln VinaCapital Urban Area Okayed in Danang

VinaCapital Fund has already got a license from authorities of central Danang city for a US$325 million urban area on the eastern bank of Han River, the largest real estate project in the city so far.

 

The nine-hectare VinaCapital Square urban area will consist of two shopping centers, covering 30,000 square meters each, two hotels with around 600 rooms in total, and a 25,000-square meter convention and exhibition centre.

 

Apart from a 42-storey office for lease building, VinaCapital will also build more than 1,000 high-grade apartments and villas.

 

The project brings the total number of FDI projects in Danang so far to 106 with more than US$1.3 billion in capital, according to the city’s Investment Promotion Center. Over the past seven months, the city drew 13 FDI projects, valued at over US$420 million. (Investment)