Sun Group to Develop $17B Mixed-Use Project in Nha Trang
Sun Group, through a consortium with Mặt trời Hạ Long and Asean Hạ Long, has been approved for a large-scale mixed-use development in Nha Trang, Khánh Hòa. The project, valued at VND 17,330 billion (approximately $17 billion), will span 226 hectares and include residential, commercial, and tourism components.
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Project Location and Scope
The Nha Trang mixed-use urban area will be located in Vĩnh Thái and Phước Long wards, with a planned population of 20,000. The site will feature a mix of residential buildings, service facilities, and tourism infrastructure, such as resorts and accommodation units for sale or lease.
Investment Details and Timeline
With an investment of more than VND 17,000 billion, the project will include funds for land compensation and resettlement, totaling VND 1,059 billion. The development will unfold over six years, starting in Q1 2025, with a 50-year operational period.
Sun Group’s Previous Projects and Expertise
Mặt trời Hạ Long, the key investor, is already behind major projects such as the Sunworld Hạ Long Bay complex in Quảng Ninh. The company has also led urban developments like the Hàm Tiến – Mũi Né and Hiệp Hòa projects.
Khánh Hòa’s Growing Real Estate Market
Khánh Hòa, a top tourist hub in Vietnam’s South Central Coast, has seen a thriving real estate market. In 2024, the province attracted 25 investment projects worth nearly VND 51,000 billion, with big names like Vingroup, Sun Group, and FPT.
Future Investment Opportunities
In addition to Sun Group’s Nha Trang project, other large-scale investments are on the horizon in Khánh Hòa. A consortium led by Becamex IDC has proposed a 3,000-hectare industrial, urban, and service project in Diên Khánh.
