Real Estate in Vietnam’s Coastal City Da Nang Booming With $700M in FDI

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Foreign real estate and project investors injected up $700 million into Vietnam’s central coastal city Da Nang in 2019, according to the city’s Department of Planning and Investment.

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The massive real estate boom included $440 million FDI in 132 new real estate projects and $120 million in 16 projects already underway, according to state-media.

“The positive figures were attributable to local authorities’ great efforts in accelerating administrative reforms to better facilitate domestic and foreign investors, according to the department’s director Tran Phuoc Son,” read a report from state-media.

A new airline Phnom Penh to Danang route started service on October 27. Phnom Penh-based Cambodia Angkor Air is the airline operator for the route.

Prime Minister Hun Sen has been actively working with the Vietnam authorities to promote cross-border tourism between the two allies.

“Vietnam continues to be the second-largest tourist market for Cambodia, and we expect to see more and more Vietnamese tourists choosing Cambodia as their holiday destination,” said Hun Sen at a forum in Vietnam in October.

Tourism Minister Thong Khon has made public plans to attract at least a million Vietnamese annually to the Kingdom.

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