ĐÀ NẴNG — Regal Group has begun construction of a luxury residential and trade service project, the five-star Regal Complex, in the heart of an eco-tourism and rapidly developing urban zone, marking it as the first international-standard complex in the central hub.

The project will include two 20-storey towers on the Cổ Cò River side, with an investment of VNĐ1.5 trillion (US$60 million), providing beachfront living and an entertainment centre to boost tourism in the heritage hub of Hội An, Đà Nẵng’s downtown and the iconic Marble Mountain area.

Deputy Chairwoman of the city’s People’s Committee Nguyễn Thị Anh Thi stressed the project is one of six key investment items in developing the new urban zone in the tourism-focused Ngũ Hành Sơn area.

She said Regal Complex was designed to meet the first internationally accredited standards for luxury residential and hospitality zones.

Deputy General Director of Regal Group Trần Ngọc Thái said the company has partnered with global flagship stores and international partners to create a new-style destination in the tourism-driven city.

The group has been developing 15 projects in central Việt Nam with a total estimated value of $1 billion.

The city’s People’s Committee reported that 17 commercial housing projects have been approved for foreign ownership, including eight in Sơn Trà Peninsula and six in downtown Hải Châu.

The city plans to become a ‘green’ and ‘smart’ one by 2030 and an economic hub for the central and Central Highlands regions, with the development of a Free Trade Zone, an International Finance Centre and a global semiconductor and AI manufacturing centre.

Đà Nẵng has been positioning itself as a magnetic destination and a premium entertainment and living quarter – a truly ‘liveable’ city, offering quality life and investment opportunities in Việt Nam. — VNS