Series Of Macro Policies Drives Propel Da Nang Market to Accelerate

As specific mechanisms are approved and pilot economic models are implemented, Da Nang is expected to enter a mature and sustainable development phase in the real estate market.

The “dual identity” advantage – both a resort capital and an economic hub – affirms Da Nang’s special status.
Being the third largest centrally governed city in Vietnam, Da Nang boasts outstanding advantages to create a unique and rare “2-in-1” combination: both a high-end resort capital and the economic locomotive of Central Vietnam.

This “dual identity” significantly contributes to sustainable, high-quality growth while maintaining a “livable” rhythm, promoting economic prosperity and enhancing Da Nang’s reputation as a dynamic international destination.

Looking ahead to 2030, the city marks its strategy focused on sustainable development, aiming to become a regional center for innovation, technology, and high-value industries, while implementing smart city initiatives to enhance efficiency and resilience.

From a real estate perspective, the key location, clean environment, high living quality, and safety make Da Nang a focal market compared to many other major cities in Vietnam. Despite experiencing significant fluctuations, investors remain patient, awaiting the return of Da Nang’s real estate, especially as the city faces decisive reforms and pilot projects in the near future.

At the recent session of the National Assembly’s Standing Committee, delegates discussed and approved the “Resolution amending and supplementing Resolution No. 119/2020/QH14 on piloting the urban government model and some special policies for Da Nang’s development.” The special development policies proposed for Da Nang’s pilot implementation include: planning, urban areas and resources, environment (6 policies); attracting strategic investors (1 policy); establishing Da Nang Free Trade Zone (1 policy); microchips, semiconductors, artificial intelligence, information communication, science and technology management, innovation (5 policies)…

Many experts affirm that the amended resolution will undoubtedly create strong momentum for the city’s comprehensive development in general and the real estate market’s acceleration in particular.

According to experts from the National Financial and Monetary Policy Advisory Council, Da Nang is one of the strategic port cities with advantages in tourism, transportation, and marine economy, deserving many special mechanisms to develop beyond other localities.

The Vietnam Real Estate Association representative also believes that Da Nang is already a quality market with established values. The new breakthrough mechanisms will further help the city demonstrate its strong attractiveness and internal strength. Granting Da Nang a special mechanism will help the locality be more proactive in attracting investment, especially national-level partnerships.

Currently, many investors admit that this is the best time to enter the Da Nang market. The city is gradually returning to its development momentum after a long period affected by general difficulties and is also supplementing many product types guaranteed by international quality brands, offering new, creative experiences.

The VCRE investor representative stated that with the special mechanism approved, the new development momentum for Da Nang is even greater than before, as many coastal cities worldwide have proven their position and importance in tourism, economy, and society, becoming national symbols.

The cooperation between Nobu Hospitality and VCRE for the first branded residence project in Southeast Asia is also considered one of the “fruits” of Vietnam-US relations, strengthening ties between businesses of the two countries, according to information from the White House.

Regarding the proposal to establish a free trade zone, Minister of Planning and Investment Nguyen Chi Dung said that current Vietnamese law has no provisions for its establishment. Meanwhile, this is a common economic model in hundreds of countries, creating competitive advantages to attract investment and promote trade and services development.

Based on research of some successful free trade zone models worldwide such as the EU, China, Singapore, and South Korea, and with selective approaches, the draft resolution was built with the plan to develop Da Nang’s first free trade zone in Vietnam. The head of the Finance and Budget Committee, representing the appraisal agency, agreed that establishing a free trade zone is a major policy, demonstrating the political determination, innovative spirit, and bold thinking of Da Nang city and the government. The free trade zone will lay the groundwork for promoting the socio-economic development of the locality and the region if successfully piloted.