Da Nang city and Thua Thien-Hue province in the central region have approved some key property projects for construction in the third quarter of this year, calling for investment to help recover the real estate market growth that was postponed by the COVID-19 pandemic.

An urban area is developed in Da Nang (Photo: VNA)

Da Nang has planned the Complex of Health-Medicine education school and luxury apartments in Ngu Hanh Son district, covering 1.2ha with an investment of VND1.18 trillion (US$51.3 million).

The complex will include a hospital, a medicine school and a hostel for students – the first of its kind in Da Nang. The project has been scheduled for construction in late of 2020 for full operation in 2025.

An area of 1.8ha in the district was reserved for a high-rise apartment project with total investment capital of VND1.98 trillion (US$86.4 million). The project would supply more than 1,100 rooms for lease or sale.

In Thua Thien-Hue province, two residential projects have been planned in the new An Van Duong urban zone in Huong Thuy township, covering a total area of 19.8ha.

The province has been calling for investment from domestic and foreign investors with an estimated capital of VND1.78 trillion (US$77.4 million) for construction in 2020-22.

It said the new An Van Duong urban zone, 5km south of downtown Hue, was designed as a ‘green’ urban area, offering low storey buildings, township houses, trading centre, parks, wastewater treatment centre and renewable energy.