Da Nang Approves Land Prices for Lang Van Project

According to the decision of the Da Nang People’s Committee, land prices are determined as of June 12, 2025, based on the previously approved detailed planning.

Specifically, urban residential land within the project, covering an area of over 806,854 m², is priced at VND 15.4 million per m². Land designated for public service facilities, with an area of 95,245 m², is priced at over VND 5 million per m².

Commercial and tourism service land, covering 305,398 m², is priced at VND 7.1 million per m². In addition, other tourism service land with an area of more than 1.3 million m² is approved at a price of VND 1.15 million per m².

These land prices serve as the basis for determining the financial obligations of the project.

A view of the area designated for the Lang Van resort development project.
Photo: Vietnam National Administration of Tourism

The city has assigned the Land Registration Office to transfer cadastral information to the tax authority as a basis for calculating the investor’s financial obligations. The Da Nang Tax Department will issue a notice on land use fees and land rental fees to Vinpearl Joint Stock Company, the project developer. The investor is responsible for fulfilling all financial obligations in accordance with regulations.

The Lang Van High-End Urban, Resort, and Entertainment Complex project covers an area of over 512 hectares and is developed by Vingroup with a total investment of more than VND 44 trillion. Previously, on November 20, 2024, the project’s investment policy adjustment was approved by the Prime Minister. Da Nang has also revised the planning, reducing the project area from over 1,067 hectares to more than 512 hectares.

This is one of the city’s key projects, expected to complete and put its initial components into operation starting from 2027. Local authorities expect the project to create new momentum for the development of tourism, services, and urban areas in the northwest region, while contributing to unlocking regional economic potential and expanding resort, commercial, and logistics activities.

Following the administrative merger, Da Nang’s real estate market is considered to be entering a phase of expanded development space, with significantly increased land reserves, coastline, and urban capacity. Improved infrastructure connectivity between Da Nang and the former Quang Nam area is expected to form a continuous development corridor from the city center to the south, driving large-scale urban projects, resort real estate, and industrial zones.

Source: Phuong Uyen | vnexpress.net