Làng Vân, or Vân Village, is designed for development of an integrated luxury entertainment, urban and resort complex project. It will be built at an investment of US$1.76 billion on an area of more than 500ha. VNS Photo Công Thành

ĐÀ NẴNG – The Làng Vân (or Vân Village) project is an integrated luxury entertainment, urban and resort complex at the foot of the Hải Vân Pass. It will be developed on 512.2ha, including both land and water areas, with an investment of VNĐ43.92 trillion (US$1.76 billion).

A source from the People’s Committee of Liên Chiểu District confirmed that project adjustments have been accepted by the Prime Minister, and construction is expected to begin soon.

Project investor and local tourism property developer Vinpearl JSC, a member of VinGroup, had already started the project with a ceremony in 2021.

The Vân Village project, in a former village that was only accessible by boat or by foot, is designed to house 19,000 people in a series of villas, townhouses and social housing units. It requires a land use change on 29.73ha of forest production area.

According to the Đà Nẵng People’s Committee, the Làng Vân project will be one of the largest entertainment and resort projects in the central city, and is expected to host up to five million tourists per year.

The project will likely spark future investment and tourism, as it is situated near the future Liên Chiểu deep-sea Port, which is currently under construction. It is also conveniently located near the Nam Ô eco-tourism site and the Hải Vân Gate, a National Historical Relic at the top of the Hải Vân Pass.

It’s also linked to National Highway No. 1, a planned international logistics centre, the East-West Economic Corridors, and the Đà Nẵng Hi-Tech Park and proposed Free Trade Zone.

According to a report from Đà Nẵng’s Investment Promotion Agency, VinGroup has poured hundreds of millions of US dollars into entertainment and tourism projects, including a 222-bed international hospital, two luxury resorts, the Vincom trading centre and Vinpearl condotel in the city.

The PM also assigned the city’s people’s committee to implement of the project's plan adjustments. Meanwhile, ministries and agencies working in planning and investment, finance, transport, construction, agriculture and rural development and the other relevant areas will work together to speed up procedures and investment processes for the project's construction.

Đà Nẵng has been preparing to establish the first-ever Free Trade Zone and International Finance Centre, and is hosting a series of key investment projects to develop a global centre for semiconductor and AI manufacturing.