With a total investment revised to nearly VND54.8 trillion (US$2.1 billion), the long-delayed mega-project is slated to resume construction in the third quarter of 2026 following years of legal bottlenecks.
Covering roughly 170.7 hectares, the coastal urban zone is designed to accommodate an estimated population of 16,132 residents. Its primary real estate offerings comprise 4,481 high-end low-rise housing units, including townhouses and luxury villas. These residential properties are strictly restricted from sale to foreign organizations and individuals.
Under the master plan, the development will also feature a general hospital, an integrated school system spanning all grade levels, 14 public service facilities, and a 12.02-hectare entertainment and leisure complex.
The total approved capital for the project stands at VND54,787.7 billion. Of this, the developer's equity contribution accounts for VND11,000 billion (20.08 percent), which has been fully paid up. The remaining VND43,787.7 billion (79.92 percent) will be mobilized from credit institutions and disbursed in phases aligned with construction progress.
Project developers expect to finalize all legal procedures, resolve remaining administrative hurdles, and restart physical construction works in Q3 2026.
Phase 1 is scheduled for completion in the fourth quarter of 2028, focusing on low-rise residential construction beginning September 2026, alongside sea dyke installation and technical infrastructure under existing permits.
Phase 2, targeted for completion by Q3 2032, will advance coastal revetment works, entertainment complexes, additional housing, schools, and public utility structures. The third and final phase is slated for completion in Q2 2033 and encompasses the hospital, commercial center, hotel, and conference facility, marking the full operational launch of the development.
Alongside the policy adjustments, the People’s Committee of Da Nang City handed down strict directives to the developer, Sunrise Bay Co., Ltd. The company must promptly return 13.099 hectares of municipal land to city management. Additionally, the developer must surrender 10 hectares designated for the municipal Software Park No. 2 project, as well as 0.79 hectares for local power sub-station and pumping station infrastructure.
Crucially, the developer is required to collaborate with relevant municipal departments to settle supplementary financial obligations to the state budget, including liabilities stemming from Government Inspectorate Conclusion No. 1202/KL-TTCP dated July 20, 2020.
The Da Phuoc International Urban Area operates under a concession valid through April 25, 2070. City officials view the revised investment framework and concrete revival timeline as key legal mechanisms to unblock the long-stalled project.
