Da Phuoc International Township project has got the thumbs up from Danang Municipal People’s Committee to remove a plan to develop an 18-hole golf course.
Because of tough economic conditions, Daewon Cantavil Company - developer of the Da Phuoc project, wanted to focus on developing an urban area instead of the 66 hectare golf course. The city’s authorities allowed the developers to transform part of the former golf course project into landed houses and high-rise buildings while it would take back 10ha to develop a software centre.
The Da Phuoc project has total investment capital of $300 million, with plans to build 8,500 apartments, five star hotels, 60-floor office buildings and international school.
The project was kicked off in 2008 but up to now the developers have only finished ground levelling and sea encroachment. It is not clear when the developers would start building the first houses as other projects in Danang are struggling to sell.
Nguyen Chung
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