[REVISION HISTORY]

Da Nang real estate and urban development evolution

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2026-10-13 11:32 UTC → 2026-10-14 01:55 UTC · added ~~removed~~

The real estate and economic landscape in Da Nang is undergoing a period of significant expansion and transformation. Initially, growth was driven by a surge in wealthy Vietnamese households, contributing to a massive spike in municipal revenue through land-related taxes. Recent fiscal data highlights continued strength in domestic tax revenue, which increased 88% year-on-year. According to the Da Nang Tax Department, authorities achieved 106.5% of their assigned budget during the first eight months of 2026. Digitalization efforts have also progressed, with 95.77% of business households utilizing the eTax Mobile application. As the market evolved, development drivers shifted toward a tourism-led model and a multi-polar urban planning vision emphasizing a “blue economy.” This includes high-end coastal assets and mixed-use developments like the Symphony 5 tower. Expanding on its role as a regional economic pole, Da Nang is collaborating with Quang Ngai province to plan the East-West Economic Corridor 2 for the 2026–2030 period. To further regional connectivity, Da Nang is researching a comprehensive urban railway network comprising 16 axes totaling nearly 240 km following the Transit-Oriented Development (TOD) model. In October 2026, the city's development continued with the approval of the Hoang Van Thai Plaza complex project by Vitours Land Joint Stock Company. ~~This investment, exceeding 1,348 billion VND, will feature 28 floors of commercial housing and is slated to begin construction in early 2027.~~ Concurrently, the municipal government is managing urban renewal by executing relocation plans for residents of three dilapidated apartment ~~complexes—Hoa Cuong, Thuan Phuoc, and Hoa Minh.~~ complexes. Economic growth is further bolstered by a 9.52% increase in GRDP during the first half of the year and a 28.7% rise in international tourism. This expansion is driving demand for integrated urban models like Capital Square. Additionally, the city is promoting a “green, circular garden economy” that integrates crop cultivation, medicinal plants, and ecotourism to diversify its economic base.

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