Approval to invest in two urban areas worth nearly 70,000 billion VND in Van Phong Economic Zone

Khanh Hoa Province Economic Zone and Industrial Zone Management Board said it has issued two decisions approving investment in the Dam Mon New Urban Area project and the Tu Bong New Urban Area project.

A corner of Van Phong Economic Zone.

Accordingly, the Dam Mon New Urban Area project has a land use area of ​​more than 1,440 hectares, located in Dai Lanh commune, Khanh Hoa province (located in Van Phong Economic Zone).

The urban area will allocate nearly 4 hectares of land for social housing development, meeting the expected population of about 28,000 people. The project will also develop 791 townhouses, 592 villas, 858 apartments and 352 social housing apartments along with a system of public works, resort tourism and tourist accommodation.

The total investment capital for Dam Mon New Urban Area is nearly 26,000 billion VND. Of which, the cost of compensation and resettlement support is estimated at 526 billion VND.

The project will have an operating period of 50 years from the date of land allocation, land lease or land use purpose change. Expected completion in the fourth quarter of 2034.

It is known that according to security regulations , Dam Mon New Urban Area does not allow foreign organizations and individuals to own houses within 200m (from the boundary of the defense land and the sea border area). Because this location is adjacent to the Standing Militia Squadron and Dam Mon Border Guard Station.

Dam Mon area in Van Phong Economic Zone.

The Tu Bong New Urban Area project has a land use scale of more than 2,579 hectares, located in Van Thang, Tu Bong and Dai Lanh communes (Van Phong Economic Zone). The expected population is about 75,000 people, with a structure of 1,002 townhouses, 609 villas, 3,812 apartments, 1,130 social apartments and many service, tourism and public works items.

Total investment capital is expected to be over 43 trillion VND. Of which, compensation and resettlement support costs are estimated at 2,812 billion VND.

The project's operating period lasts 50 years, with implementation progress from 2025 to the fourth quarter of 2034.

The Tu Bong New Urban Area Project also applies similar ownership restrictions, not allowing foreign organizations and individuals to buy houses within 200m from the national defense land (Van Long Border Guard Team/Dam Mon Border Guard Station) to the surrounding area and in the sea border area.

Previously, regarding the above two projects, on June 30, the Prime Minister issued Decision No. 1450 approving the investment policy of the Dam Mon New Urban Area project and Tu Bong New Urban Area project.

The form of selecting investors for the two above-mentioned projects is in accordance with the provisions of Resolution No. 55 (dated June 16, 2022) of the National Assembly on piloting a number of specific mechanisms and policies for the development of Khanh Hoa province.