After a period of many fluctuations with intertwined "hot and cold" phases, Da Nang's real estate market is gradually shifting to a more stable, healthy and sustainable development trajectory. This is the assessment given at the "Real Estate enters a new phase" Forum organized by Business Forum Magazine on the morning of January 30 in Da Nang under the direction of the Vietnam Chamber of Commerce and Industry Federation.
Speaking at the Forum, Mr. Nguyen Tien Quang, Director of the Vietnam Chamber of Commerce and Industry, Central - Central Highlands branch, affirmed that real estate is not only an important economic sector but also a pillar associated with urban development, infrastructure, services and the quality of life of people. With the aspiration to build a livable city, Da Nang identifies real estate as one of the pillars creating a high-quality living space.
According to Mr. Quang, Da Nang's real estate market has undergone the necessary screening process. The recent difficulties have also opened up opportunities for restructuring, laying the foundation for a new development cycle in a faster and more sustainable direction. The market has not only overcome the adjustment phase but also gathered many important foundational factors.
The four main drivers that are shaping the new direction of the market are pointed out: orienting the city's planning to move into a new phase with a long-term vision, prioritizing sustainable and modern development; the investment and business environment continues to be reformed towards transparency and stability; special mechanisms, policies and institutions such as the Free Trade Center and the International Financial Center are expected to create a boost to unlock resources; along with that is an expanded development space, creating greater room for the real estate market.
The shift from an erratic up-down state to a stable trajectory poses new requirements for businesses, investors and management agencies. The focus is not only on the number of projects or the scale of capital flows, but on the quality of growth, the value it brings to the economy, cities and people's lives.
With the role of companion, VCCI Da Nang continues to coordinate with functional agencies, listen to practice, support the removal of obstacles, contributing to building a transparent and favorable business environment, especially in the real estate sector.
