Investors in Saigon and Hanoi prefer Da Nang real estate

Investors in Saigon and Hanoi prefer Da Nang real estate

People interested in the resort real estate segment in Danang come mainly from Hanoi and Ho Chi Minh City. has just published a report on the behavior of real estate investors in the Da Nang market in the third quarter of 2019 with the reception of potential customers from the two largest cities. Countries: Ho Chi Minh City and Hanoi. The level of interest in Danang resort real estate by investors in Hanoi and Ho Chi Minh City accounts for 64.5-75%, surpassing the rest of the market.

In the condotel segment, resort apartments in Da Nang, internet users from Hanoi have the proportion of investors interested in reaching 47.3%, Ho Chi Minh City ranked second, reaching 27.7%, the rest allocated about other regions and provinces. Meanwhile, in the villa and townhouse segment located along the coast of Da Nang, the level of interest from investors in Hanoi accounted for 36.2%, HCMC reached 28.3%.

This survey unit said that this level of interest is statistically from online real estate markets with Big Data based on the search behavior of internet users.

Danang real estate market. Photo: Nguyen Dong

In terms of geography, the search for Danang resort real estate by investors from Hanoi leads the country and is slightly higher than investors from Ho Chi Minh City. This trend has been shaped and strengthened over the years. In many other resort real estate markets across the country, especially in areas where land fever has occurred, Northern investors have always actively sought and sought opportunities with the highest frequency.

Differences between the real estate market in Danang and Ho Chi Minh City and Hanoi are also published in this report. Specifically, the average area of apartments in this coastal city is 57 m2, very small compared to Hanoi (92 m2) and Ho Chi Minh City (84 m2). Meanwhile, the average area of individual townhouses in Danang is approximately equal to Hanoi but about 30% smaller than HCMC.

The data shows that although Da Nang's land bank is still plentiful, housing tastes in this market are preferring small real estate while Ho Chi Minh City and Hanoi have urban development land funds which are shrinking. Large housing area is more common.

In the third quarter of 2019, Da Nang leads the country in the level of interest, looking for resort real estate, followed by Nha Trang, Ba Ria - Vung Tau.

According to Vu Le

Real Estate Danang - Quang Nam: Cash flow is back

Real Estate Danang - Quang Nam: Cash flow is back

Although there has been a slight trade in the recent 2 months, but for the market to recover like the previous time, real estate in Da Nang - Quang Nam will need big pushes to clear investment flows.

Da Nang real estate now needs a big push from economic development to raise its value

Investors are stuck in capital

Do Duy Tuan, an investor in Da Nang, shared that at the end of 2018, seeing land prices rising, he and his wife decided to sell their house in Hai Chau district for VND 6.8 billion to invest in some projects in Danang. Accordingly, the couple decided to "down money" a plot of land at Eco Charm project for 3.2 billion and a townhouse at the Sunrie Bay project for more than 3 billion. Tuan intends when the price a little higher, it will "surf" to make a profit.

However, after more than 10 months, the transaction prices of these products not only did not go up as expected, but increasingly deep down made Mr. Tuan very worried. Although he accepted to sell a loss of more than VND 500 million compared to when buying, but so far he still could not "push" to go 2 land plots due to the gloomy market situation.

Ms. Tran Thi Kim Thanh, a customer from Hoi An, Quang Nam is in the same situation. In 2017, Ms. Thanh, after collecting some money from savings and bank loans, decided to invest in two land plots of the 7B expanded urban area project of Bach Dat An Company in Dien Nam New Urban Area, Dien Ngoc, Dien Ban town, Quang Nam province. However, after paying more than 95% of the plot value under the contract, until now after more than 2 years, Ms. Thanh has not been able to receive a certificate of land use right for her 2 land plots due to the project being legal problems. Without a certificate of land use right, Ms. Thanh could not proceed with the construction of houses for resettlement, nor transferred it to recover the capital.

The recent developments of Da Nang and Quang Nam markets make customers hesitant and consider when investing in real estate.

“At the time I ordered the expanded 7B project product, the property price was still very low. In the past 2 years, the price of land in Da Nang - Quang Nam has doubled and tripled compared to the original price. With this amount of money, at the present time, we have no chance to buy land to settle down”, Ms. Thanh said.

According to Ho Cong Tinh, Director of Investment - Foreign Affairs, Dong Phong Real Estate Development Investment Joint Stock Company, the legal fuss of a number of projects in Da Nang, Quang Nam. This has led customers to lose confidence and become more cautious when investing in real estate.

“Investors are not in a hurry to invest yet, but they are still considering the evolutions of the regional market before making an investment decision. There are a number of other customers who are buried in projects that are not legal enough, so the cash flow from there is also blocked. In addition, banks tightening lending to real estate investment has also affected the overall situation of the real estate market in Da Nang and Quang Nam”, Mr. Tinh said.

Need an economic nudge

Assessing the recent developments in the real estate market in Da Nang, Mr. Nguyen Tuan Anh, General Director of Truong Gia Phat Real Estate Services Joint Stock Company, said that the period 2009-2014 was the period The real estate market of the whole country fell into freezing, which was also the time when the country's economy was going through a difficult period due to the general impact of the world economic crisis. Tourism, exports, finance and banking have all suffered losses and have a direct impact on the real estate business. Meanwhile, although the real estate market in Da Nang - Quang Nam level has slowed down, there is still plenty of room for development, and the economy and society in general are showing good growth. However, from 2014 up to now, the market has fluctuated, many areas have risen sharply, and many ghost projects have appeared, making risks present to customers and investors. That is why customers are hesitant in the decision to down money.

“Investment cash flow is stalling, making transactions fall. Meanwhile, Da Nang and Quang Nam now have too few good projects for investors to choose, and they have to compete fiercely with other emerging markets in the region such as Phu Yen, Binh Thuan and Binh. Dinh, Quang Binh... In order to bring the market back to activity, first of all, it is necessary to clear the investment cash flow. This depends on the policies of the authorities in solving the difficulties and legal obstacles for the projects currently in the area”, Mr. Tuan Anh said.

For his part, Mr. Nguyen Duc Quynh, General Secretary of Danang Tourism Association, Deputy General Director of Furama Resort Danang said that the strong development of Danang real estate in the period of 2016 - 2018 has a great influence. from a group of large investors from Hanoi and Ho Chi Minh City. Currently, when Da Nang real estate prices have reached the "ceiling" level, they are no longer attractive to these investors and they have withdrawn from the Da Nang market. Therefore, it will be very difficult for Da Nang market to return to the "sublimation" stage as before.

“Da Nang tourism is currently developing quite well. But this is only one aspect of the growth in real estate. Da Nang now needs a real push on economic growth to rise beyond the current common ground, build a good investment environment, rise to become a major center for tourism, finance and trade or education... of the region, like Singapore or Hong Kong... At that time, Da Nang could attract rich people and people with money to live and work. By doing so, the value of Danang real estate will increase and no longer depend on a group of investors. That is the way to open a truly sustainable investment cash flow for Danang real estate”, Mr. Quynh said.

According to Ngoc Tan

Da Nang: Tourists increase but occupancy

Da Nang: Tourists increase but occupancy

Although the number of tourists coming to Da Nang continues to increase, the occupancy decreases slightly.

Da Nang is still a familiar destination for domestic and foreign tourists. Photo: Shutterstock.

Information from CBRE Vietnam, in the first 6 months of 2019, the total number of visitors served by the tourist accommodation facility in Da Nang was estimated at 2.72 million, up 21% over the same period last year.

In particular, international visitors reached 1.76 million, up 29% over the same period in 2018, domestic visitors reached 959,243 arrivals, an increase of 9% over the same period in 2018. Average international stay reach 2.7 days, domestic tourists is estimated to reach 2.5 days.

Despite impressive growth in the number of guests, the average room rate (ADR) of the 4-5 star hotel segment recorded a decrease of 17% compared to the same period in 2018, the room capacity also decreased slightly by 2.4 points percent.

According to CBRE, this may be partly explained by the recent increase in supply in the 4-star segment, with 5 4-star hotels being put into operation in the first 6 months, providing more Total 548 rooms. This has reduced the average room rate of 4 - 5 star hotel. In addition, this sector is also increasingly under pressure when a number of condotel projects and a series of 3-star hotels start to come into operation.

Despite the reduction in performance and room rates, but according to CBRE, the projects have built a stable distribution and marketing system and have a well-known name in the market, the operating situation is still very positive.

From now till the end of the year, Da Nang market is expected to have three more 4sao hotels in operation. In 2020, the market will welcome the participation of JW Marriott Da Nang, a luxury brand of Mariott Group with the highlight of VV Mall in the podium.

This large-scale mixed-use project promises to be the first large-scale resort and entertainment complex along the coast of Danang. In addition, another prominent project that is expected to go into operation by the end of 2020 is MGallery Ba Na with about 2,000 rooms and classic architecture, located in the Sun World Ba Na Hills complex.

According to Thanh Nguyen

Da Nang real estate: Houses in the city take the throne

Da Nang real estate: Houses in the city take the throne

The real estate market in Danang recently has experienced many volatile and turbulent periods.

Latest, the land plot segment of the project continuously suffers from the consequences of unusual hot status. Despite the volatile market, the segment of houses in the street still grows steadily and stably.

Houses in the city grew steadily

According to Mr. Tran Thanh Hai (living in Son Tra District, Da Nang), he and his wife are both employees and the income is not high but quite stable. At the end of 2017, when he saved the amount of VND 200 million, Mr. Hai discussed with his wife to decide to borrow more investment bank to buy a house in the city for rent.

With that goal, when finding a 4-level house with an area of 80 m2 in masterpiece on Tran Cao Van Street (Thanh Khe District), Mr. Hai and his wife decided to borrow a bank to buy it for 800 million VND.

Da Nang needs to focus on stabilizing, balancing the market and offering solutions to optimize the use of available land. Photo: Quang Hai

After that, he and his wife rented for 3 million/month, with this income has less interest bank. At the end of 2018, when the housing price went up, he sold the price of 1.9 billion VND, except the profit was quite good. Mr. Hai added, his house has been sold, the owner is selling for 2.5 billion dong.

Similarly, Mr. Tran Anh Duong (Hai Chau District, Da Nang) also felt that he made the right decision when investing in a house in the street. He said that two years ago, he bought a 3-storey house with an area of 65 m2, located in a 3 m lane on Nguyen Chi Thanh street for 3.5 billion VND. Currently, his house has been valued at about 6 billion.

“If I spent VND 3.5 billion two years ago to invest in land acquisition, it would not be profitable to buy a 65 m2 house in an alley in the city center. Moreover, land is very difficult to sell now, while houses built in the street are very easy to sell", Mr. Duong shared.

Being the owner of a fairly large enterprise in Da Nang, Ms. Tran Thuy A. (in Thanh Khe district), whenever she got a profit, she decided to "hunt" builders in the city center to buy. Most recently, Mrs. A. bought a two-storey house in the center of Hai Chau district for VND 5.5 billion.

After repairing another VND 500 million, only two months later, Ms. A. sold this house for VND 6.5 billion. Ms. A. said she also invested capital to buy land plots in some projects in Da Nang but really felt more interested in the housing segment in the city center. Because the house in the street ensures steady and stable growth, moreover, there are adequate papers so peace of mind.

No worries about losses

While the houses in the city grew steadily and stably, the project land market in Da Nang was facing many difficulties, many areas fell and it was very difficult to transact. According to Mr. Truong Sy Binh - General Director of Phuc Hoang Ngoc Company, land in some areas has been pushed up prices too much compared to reality, such as the urban projects in the South and the West of Da Nang City. Danang. Therefore, the land market is highly volatile.

“From 2017 to now, the land market in Da Nang has been extremely volatile. The price of each land lot in urban projects in the southern city of Da Nang in 2017 fluctuated around 1 billion dong, up to nearly 2 billion dong in 2018. But to the "fever" after the Lunar New Year 2019, the price of the project ground here spiked, with a lot up to nearly 4 billion. And now, the land of the project site has dropped deeply, nearly a billion dong per lot”, Mr. Truong Sy Binh said.

According to Mr. Binh, in the past, the number of investors in the segment of construction houses in the street was quite large but the later time was less due to the fluctuations of the Da Nang real estate market. Specifically, in recent years, Da Nang has had many "hot" development time of urban projects, so the trend has strongly shifted to the land plot segment.

While the investment forms of the developed society do not give much priority to the land plot segment, but rather to adjacent houses and townhouses. Therefore, this is also a problem that needs to be reconsidered in the planning process of Danang City.

Talking about the investment, General Director of Phuc Hoang Ngoc Company said that, for Da Nang real estate market today, investing in the housing segment in the city is the safest direction, without worrying about losses. Currently, the price of land (with houses) in the alleys in the central roads of Hai Chau district such as Hoang Dieu, Phan Chau Trinh... fluctuates about 100 million VND/m2.

An Thuong area (My An ward, Ngu Hanh Son district) is considered to be the most attractive investment site of Da Nang today, the land here costs about 110 million VND/m2 or more. For residential land, the price is much higher. Meanwhile, alleys and alleys in some roads of districts Thanh Khe, Cam Le and Lien Chieu, prices range from 30 million VND/m2.

"In the past few years, Da Nang has been a constant focus of land fevers. Many investors are risking their lives in the hope of being able to surf in order to make a profit. However, when land fevers are over, property prices plummet, many investors have been stranded, and virtual land fevers with semi-grounding activities have left many market consequences. Because the Danang government is having policies to "lower prices" to combat the virtual fever of the market.", Mr. Truong Sy Binh - General Director of Phuc Hoang Ngoc Company

According to Urban Economics

Danang publicizes land fund information in the area

Danang publicizes land fund information in the area

Following the directions of the Standing Committee of the City Party Committee, the Center for Da Nang Land Fund Development has just released a document on publicizing the land fund currently managed by the the Center of Vietnam.

Accordingly, the Da Nang has 23,458 resettlement plots. Of these, 7,851 lots have no premises and 15,607 lots have been occupied.

Regarding resettlement land fund in each area, Hai Chau district has 251 plots with ground, Thanh Khe district has 93 plots with ground. Cam Le District has 3,770 lots with 442 unoccupied lots and 3,328 lots with ground. Son Tra District has 1,884 lots with 294 non-ground lots and 1,590 lots with existing premises. Lien Chieu District has 4,055 lots with 670 unopened lots and 3,385 lots with ground. Ngu Hanh Son District has 8,078 lots with 4,297 lots without ground and 3,781 lots that have had ground. Hoa Vang district has 5,327 lots with 2,148 unoccupied lots and 3,179 lots that have been occupied.

Da Nang has just announced its land fund. Photo: Vietnamnet

Also according to the information from the Da Nang Land Fund Development Center, there are 247 large land areas in the city. The total area of these areas is 1,311,851.8m2.

Of which, 71 lands (area of 202,539.2 m2) belong to Son Tra district; 55 land lots (area of 375,024.5m2) in Cam Le district; 52 lands (221,304,3m2) in Ngu Hanh Son district; 34 land areas (area of 295,372.3m2) in Hoa Vang district; 21 lands (area of 120,561.2m2) in Lien Chieu district; 11 land lots (area of 114,095.9m2) in Hai Chau district; 3 land lots (area of 9,157.5m2) in Thanh Khe district.

The transparent disclosure of land fund information in the area aims to help people and businesses access land information as a basis for developing production and business facilities as well as facilitating the receipt of resettlement land profit.

According to Khanh Trang

Da Nang: More than 23,400 lots of resettlement land fund are publicized

Da Nang: More than 23,400 lots of resettlement land fund are publicized

The Center for Land Fund Development (Department of Natural Resources and Environment) in Da Nang has just announced the resettlement land fund (TDC) in the city. Accordingly, the resettlement land fund has 23,458 lots, the locality with the most resettlement land is Ngu Hanh Son district with over 8,000 land plots.

Implementing the direction of the People's Committee of Da Nang City in Official Letter No. 5546/UBND-DTDT dated August 17, 2019, deploying the conclusion of the Standing Committee of the City Party about publicizing the land fund in Da Nang City, Development Center The city's land bank has just released the information that the land bank is currently managed by the center.

Specifically, about the resettlement land fund, currently, the whole city has 23,458 lots; in which, there are 15,607 lots have ground, 7,851 lots have no ground yet. In Cam Le district, there are 3,770 lots of resettlement land, with 3,328 lots have ground and 442 lots have no ground yet; Hai Chau district has 251 plots with ground on 251 resettlement plots; Thanh Khe district has 93 plots of land area out of 93 resettlement plots;

In Son Tra district, there are 1,884 lots, with 1,590 lots already on the ground, 294 lots without the premises; Ngu Hanh Son district has 8,078 lots of resettlement land, of which 3,771 lots have been grounded, 4,297 lots have no ground yet; Lien Chieu district has 4,055 plots of resettlement land, with 3,385 plots having ground, 670 plots without ground; Hoa Vang district has 5,327 plots of resettlement land, with 3,179 plots having ground and 2,148 plots without land.

In Da Nang City, there are 247 large plots of land with an area of 1,311,851.8m2. Specifically, Cam Le district has 55 lands, with an area of 375,024.5m2; Hai Chau district has 11 lands with an area of 114,095.9 m2; Thanh Khe district has 3 lands, with an area of 9,157.5m2; Son Tra district has 71 lands with an area of 202,539.2m2; Ngu Hanh Son district has 52 lands, an area of 221.304.3m2; Lien Chieu district has 21 lands with an area of 120,561.2m2; Hoa Vang district has 34 lands, with an area of 295,372.3m2.

The disclosure and transparency of land fund information in the city aims to help businesses and people access land related information as a basis for the development of production and business facilities as well as Receive resettlement land is favorable.

According to Nam Phong

19 houses in Da Nang marina project are eligible to sell in the future

19 houses in Da Nang marina project are eligible to sell in the future

On September 17, the Department of Construction of Da Nang announced that at the Da Nang real estate project and marina (Nai Hien Dong ward, Son Tra district) there are 19 separate houses formed in the future to be sold.

Accordingly, this number includes plots of land B2-3-1, B2-3-2, B2-3-3, B2-3-4, B2-3-5, B2-3-6, B2-3- 7, B2-3-8, B2-3-9, B2-3-10, B2-3-11, B2-3-12, B2-3-13, B2-3-14, B2-1-7, B2-4-28, B4-1-7-6, B4-1-7-8, B4-1-7-9 of Danang Real Estate project and marina are eligible to be sold under Business Law real estate 2014.

The Department of Construction proposes Da Nang marina Co., Ltd., the project owner, before selling houses to be formed in the future, the investor must be qualified by the commercial bank to perform the financial obligations guarantee. It is the principal of the investor to the customer when the investor does not hand over the house on schedule as committed to the customer.

It is known that the Real Estate and Marina project was approved by the People's Committee of Danang City. The boundary map is in Decision No. 6652/QD-UBND dated August 28, 2009, with the project area of 175,012m2, of which the area land use: land area: 105,520m2, land use area of water surface: 69,492m2, assigned VinaCapital Group to study the project.

The river boundary of the project is based on the approved boundary diagram following the direction of the planning of the dyke and revetment of Man Quang embankment, the section connecting the dyke and embankment of Bach Dang Dong, Son Tra district, Da Nang city approved by Danang People's Committee approved in Decision No. 8644/QD-UBND dated October 20, 2008.

The Man Quang dike and embankment route is organized by the Department of Agriculture and Rural Development of Danang on the basis of geological survey, Han river flow research, to ensure safety for Man urban residential areas. Quang, a resident of Nai Hien Dong Fish Village, preventing riverbank erosion and infrastructure of riparian area, Ministry of Agriculture and Rural Development also agreed.

In 2011, the People's Committee of Da Nang City approved the first plan in Decision No. 906/QD-UBND dated January 26, 2011, the project boundary is calculated from the edge of the dyke and revetment of Man Quang embankment. total project area is 175,512m2, of which the land area is 105,520m2, the water surface area, the wharf is 63,003m2; in the river side, there are 13 high-rise tower blocks (from 16-33 floors) and yacht maintenance works; Park land, green trees: 7,065m2.

After that, VinaCapital Group transferred the shares of Da Nang Real Estate and Marina Company Limited to Quoc Cuong Gia Lai Company to continue to implement. Through planning adjustments in Decision No. 5559/QD-UBND dated August 3, 2015, Decision No. 658/QD-UBND dated February 3, 2017 and the most recent in Decision No. 5197/QD- The People's Committee of September 15, 2017, the project was adjusted in the direction of the plan: The total area of the project was reduced to 117,311m2, of which the land area is 107,311m2, the water surface area is 107,311m2, jetty reduced from 63,003m2 to 10,000m2;

The boundary of the water surface from the running channel (managed by Da Nang Port Authority) increased from 30m to 60-200m, minimizing the impacts on waterway traffic; Increasing the area of parks and trees from 7,065m2 to 24,415m2; The river side has been adjusted from 13 blocks of high-rise towers to 02 blocks (height from 16-33 floors) and 57 villas, contributing to reducing pressure on social and technical infrastructure in the area; arranging 8m wide public walkways along the river, not building fences and gates to the river area to create convenient conditions for people to access the space along the river bank.

The project has been approved by the Danang People's Committee to report the environmental impact assessment in Decision No. 6039/QD-UBND dated October 27, 2017.

Currently, the investor has completed the construction of technical infrastructure in the east of Le Van Duyet Street and some adjacent houses according to the construction permit granted. The riverside area west of Le Van Duyet Street has been leveling and embankment, and is constructing technical infrastructure items such as roads, water supply and drainage systems, electricity, etc.

According to Nam Phong

Da Nang further informed 21 coastal lots with foreigner factors

Da Nang further informed 21 coastal lots with foreigner factors

The Department of Natural Resources and Environment of Da Nang has just released official information about 21 Chinese people owning coastal plots.

Accordingly, this Department affirms that, up to the present time, it is not possible to issue certificates of land use rights, ownership of houses and properties attached to land to any foreign ownership of individual houses and residential land in residential areas.

In the case of a foreign individual wishing to own a house in the form of: Buying, renting, buying, giving or inheriting commercial houses, including condominium apartments and separate houses in housing construction investment projects;

The Department of Natural Resources and Environment only considers and submits to competent authorities for settlement if and only when it meets all conditions prescribed in Article 159 of the 2014 Housing Law. For information on 21 cases of Chinese ownership of land Da Nang coastal area, Department of Natural Resources and Environment said, through the review, there are two foreign-invested enterprises (foreign individuals are contributing capital in the form of owning shares and shares in the joint venture). Enterprises are allowed to lease land, receive land use rights from domestic organizations and individuals at 21 certificates.

Specifically, Silver Shores Hoang Dat Special International Tourism and Entertainment Joint Venture Company (of which Vietnam is Hoang Dat Joint Stock Company with 10% capital contribution and Silver Shores Company Limited is headquartered in The United States, represented by capital contribution of 90% of Mr. Sui Gui Nan);

Being leased by the City People's Committee an area of 20 hectares of land for production and business establishments, 50-year land lease term (until June 21, 2056) in Khue My ward (Ngu Hanh Son district) with certificate No. AL 451916 March 21, 2007;

Another case is VNHoliday Trade, Tourism and Services Co., Ltd., which is a foreign-invested Vietnamese enterprise with a 48% stake contribution (registered by an individual named LiJinNan, permanent residence in China).

This company received a transfer from a Vietnamese individual and enterprise with 20 certified land plots at the 25m land bank streak along the wall of Mangrove Airport from 2013-2015.

Da Nang Department of Natural Resources and Environment said that according to Clause 4, Article 29 of the 2005 Investment Law, foreign investors are entitled to apply the same investment conditions as domestic investors in the case Vietnamese investor owns 51% or more of its charter capital.

Therefore, in case the VNHoliday Trade, Tourism and Services Limited Company receives the transfer of the above land use right in accordance with the Law on Investment 2014 and has the right to receive the transfer of land use rights according to the 2013 Land Law.

According to Nam Phong

Da Nang warns of selling commercial land - services into residential land

Da Nang warns of selling commercial land - services into residential land

The Department of Construction of Da Nang warned people not to trust the information posted for sale on residential land in Lot B2-1 of Hoa Minh 2 resettlement area to avoid future damage.

Specifically, on a social networking site specializing in real estate business announced the sale of 23 plots of frontage on Tran Dinh Tri and Le Van Sy streets, Lien Chieu district. According to information for sale, the location of this land has 3 fronts Tran Dinh Tri - Tot Dong - Le Van Sy. Content for listing information about this land is divided into 97.5m2/lot, 105m2/lot and 205m2/lot with 20.5m and 13.5m traffic sections. Selling price from 3 billion/lot.

According to the Department of Construction, the verification of this land for sale is in Lot B2-1 of Hoa Minh Resettlement Area 2. This is a production and business land, so the information is divided into 23 lots and for sale of residential land is incorrect. According to the planning approved by the City People's Committee in Decision No. 8642/QD-UB of May 10, 2011, this land lot is planned to be commercial and service land.

Department of Construction said that on October 26, 2018, DHA Group Joint Stock Company was transferred to use this land. On January 30, 2019, this enterprise sent a document No. 01/2019/DHA to the People's Committee of Da Nang City to request the adjustment of part of the B2-1 plot to 30 residential land plots. Later, the People's Committee of Da Nang City transferred the Department of Construction to handle and the Department issued a written statement to DHA Group Joint Stock Company that the proposal to adjust the land plot planning B2-1 towards dividing into 30 residential land lots was not in accordance with the approved plan.

According to the current law, this land is planned as a commercial land - services are not residential land. Therefore, the Department of Construction recommends that people should not rely on information posted for sale on the site as residential land to avoid future damage.

According to Dieu Trang