The super project Cocobay that football superstar Ronaldo once promoted will be 'open' from the first quarter of 2026

The removal of difficulties and obstacles for the luxury resort and housing project The Empire (Cocobay) and a number of other projects will be completed in the first quarter of 2026.

Cocobay super project "shelved" for a long time - Photo: DOAN CUONG

The Department of Agriculture and Environment of Da Nang City has just reported the progress of resolving the issue of re-determining land prices to collect financial obligations for lost revenue and exemptions related to a series of projects, including the Cocobay super project.

The authorities have developed a plan to handle issues related to land management and collection of financial obligations.

Accordingly, for 15 projects and land plots: The Department of Agriculture and Environment has reported 11/15 plans to collect financial obligations for 11 projects and land plots to the city.

The People's Committee of Da Nang City has agreed on 3/11 reports on the plan to collect financial obligations for 3 projects: Dong Phuong beach villa and hotel project; Vinacapital golf course project; Vinacapital beach tourism area.

The Department has invited investors to work and notify, prepare documents to hire consultants to determine land prices for 3 projects.

Many projects in Da Nang's coastal area will have obstacles removed - Photo: DOAN CUONG

The Department of Agriculture and Environment said that in the coming time, it will continue to develop a collection plan for the remaining projects to report to the city for consideration and approval.

In the process of calculating financial obligations, the department proposed that the city assign relevant units to urgently review and guide investors and land users to supplement procedures on investment, construction, environment, land, etc. (if any) to ensure that after investors complete their financial obligations, the project can continue to be implemented or a "red book" will be issued.

For example, with 3 projects (Alphanam Luxury; 58 Bach Dang land; The Empire luxury resort and housing area), according to the records, the investment policy has not been approved by the competent state agency, leading to insufficient legal basis to determine the construction type as housing for sale or for sale combined with rent according to the provisions of the land law to carry out the procedure of granting "red books" to apartment buyers...

It is expected that the department will advise the city to complete the removal of difficulties and obstacles for 9/15 projects in 2025, including Dap, Dap 1, Dap 2 projects; P&I resort; 58 Bach Dang land plot; Vinacapital golf course; Dong Phuong beach villa and hotel area; Da Nang Tower; Vinacappital beach resort; Alphanam Luxury commercial, service and hotel apartment complex; Central Coast luxury hotel and apartment complex.

3/15 projects will be completed in the first quarter of 2026: The Empire luxury resort and housing project; Future Property Invest tourist area; Hyatt Regency Danang Resort & Spa beach resort.

Complete the remaining 3 projects in the second quarter of 2026, including The Nam Khang Residences; Nam Phat beach villa area; Pearl of Asia project.

Current status of Cocobay project - Photo: DOAN CUONG

Super project once invited football superstar to advertise

According to research, the luxury resort and housing project The Empire (Cocobay) invested by Thanh Do Investment and Construction Joint Stock Company was licensed and started construction in 2016. Since the beginning of 2022, the project has been "on hold" until now.

This super project has a total investment of nearly 11,000 billion VND, located on the coastal route connecting Da Nang and Hoi An.

In 2017, the investor invited world football superstar Ronaldo to advertise for the super project Cocobay.

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Source: https://tuoitre.vn/sieu-du-an-cocobay-sieu-sao-bong-da-ronaldo-tung-quang-ba-se-thong-tu-quy-1-2026-2025032309582308.htm