PM approves two new urban areas in Vân Phong Economic Zone

PM approves two new urban areas in Vân Phong Economic Zone

Prime Minister Phạm Minh Chính has recently approved the investment policy for two new urban areas in the Vân Phong Economic Zone in the central province of Khánh Hòa with a total capital of more than VNĐ65 trillion (US$2.5 billion).

A view of the Vân Phong Economic Zone in the central province of Khánh Hòa. — Photo vietnambiz.vn

The Đầm Môn New Urban Area, which is located in Khánh Hòa Province’s Đại Lãnh Commune, will cover more than 1,440ha, including more than 82ha of land formed from sea encroachment and 3.99ha of land for social housing development. The expected population of the area is 28,540 people.

It is expected the area will include 791 townhouses, 592 villas, 858 apartments, 352 social housing apartments, service works, tourist accommodation facilities and resorts, and other public works.

The project, which has a total investment capital of nearly VNĐ25.53 trillion, will be implemented from the second quarter of 2025 to the fourth quarter of 2034.

Meanwhile, the Tu Bông New Urban Area project covers more than 2,579 hectares, including more than 621.8ha of land formed from sea encroachment and 7.18ha of land for social housing development. The expected population of the project is 74,700 people.

Housing products include more than 1,000 townhouses, 609 villas, 3,812 apartments, 1,130 social housing units along with service works, tourist accommodation facilities and resorts, and other public works.

This project, which is located in Tu Bông Commune, Vạn Thắng Commune and Đại Lãnh Commune in Khánh Hòa Province, has a total investment capital of more than VNĐ42.8 trillion. The project will be implemented from the second quarter of 2025 to the fourth quarter of 2034.

The two projects will be allowed to select investors according to the provisions of Resolution No. 55 of the National Assembly on piloting a number of specific mechanisms and policies for the development of the Khánh Hòa Province. 

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