Two urban areas in Da Nang are allowed to be sold to foreigners.

Da Nang city allows foreign organizations and individuals to own houses in the two urban areas Capital Square 2 and Capital Square 3.

Two urban areas in Da Nang are allowed to be sold to foreigners.

Da Nang city allows foreign organizations and individuals to own houses in the two urban areas Capital Square 2 and Capital Square 3.

The Department of Construction of Da Nang City has just announced a list of commercial housing construction investment projects allowing foreign organizations and individuals to own houses in the city.

Accordingly, the two projects allowed to be sold to foreign organizations and individuals are Capital Square 2 Urban Area and Capital Square 3 Urban Area.

Specifically, the Capital Square 2 Urban Area project (An Hai Bac ward (Son Tra district), invested by Mega Assets Company Limited.

Capital Square 3 Urban Area Project (An Hai Bac Ward, Son Tra District), invested by SIH Real Estate Company Limited.

The Da Nang Department of Construction requires that in case these projects are located in areas requiring national defense and security as notified by the Ministry of National Defense and the Ministry of Public Security as prescribed in Point a, Clause 2, Article 4 of Decree No. 95/2024/ND-CP dated July 24, 2024 of the Government, the project investor is not allowed to continue leasing or selling houses to foreign organizations and individuals; must cancel and liquidate the lease-purchase or sale contracts of houses and be responsible for handling issues related to contracts signed with foreign organizations and individuals.

In addition, the project investor is responsible for providing full legal information of the project and the houses put into business to customers before considering signing a contract for lease-purchase or sale of houses; and conducting real estate business activities in accordance with the provisions of law.

It is known that in 2012, the People's Committee of Da Nang City granted Investment Certificates to Capital Square 2 Urban Area Project and Capital Square 3 Urban Area Project. These two projects are surrounded by three major roads: Ngo Quyen, Nguyen Cong Tru and Tran Hung Dao, located opposite the East bank of the Han River.

Capital Square 2 Urban Area Project has an area of ​​3.2 hectares, with a total investment of 1,178 billion VND; The project will build 1,205 apartments on a floor area of ​​83,829 m2.

Capital Square 3 Urban Area Project has an area of ​​2.94 hectares, with a total investment of 1,885 billion VND; The project will build 1,737 apartments on a floor area of ​​142,412 m2. These are 2 of 75 projects in the Housing Development Plan of Da Nang City for the period 2021-2025.

Source: https://baodautu.vn/batdongsan/hai-khu-do-thi-tai-da-nang-duoc-phep-ban-cho-nguoi-nuoc-ngoai-d249884.html