On July 4, the Van Phong Economic Zone Management Board (Khanh Hoa province) announced that the unit had announced information to invite bids to select investors for two projects: Tu Bong Urban Area and Dam Mon Urban Area.
The total area of the two projects is up to more than 4,000 hectares, with a total estimated investment of more than 65,300 billion VND. These are two of the key projects to exploit the development potential of the South Central Coast region, especially in the Bac Van Phong area - which is oriented to become a new growth pole of the province.
The Tu Bong New Urban Area Project has an area of over 1,440 hectares, of which the sea encroachment area is about 82 hectares. According to the preliminary plan, the project will develop about 79 townhouses, 592 villas, 858 apartments and 352 social housing apartments.
The Dam Mon New Urban Area Project has a larger scale, with an area of about 2,579 hectares, of which the sea encroachment area accounts for more than 621 hectares. The land fund for social housing is about 7 hectares, serving the expected population of up to 74,700 people.
This project is expected to build more than 1,000 townhouses, 600 villas, 3,800 apartments, 1,130 social housing apartments, along with a system of synchronous service, tourism, accommodation and public infrastructure works.
According to the Van Phong Economic Zone Management Board, both projects apply the regulation of limiting foreign organizations and individuals to own houses within a distance of 200m from the boundary of national defense land and coastal border areas.
This regulation is applied due to the location of projects adjacent to the regular militia Squadron and Dam Mon Border Guard Station - areas sensitive to national defense and security.
