$1.6b urban development planned for Da Nang

Construction of a new US$1.63 billion urban development project in Da Nang City will begin in November.

The project, scheduled to be completed in five years, has a hotel, trading and service centres, schools, hospitals and an entertainment area.

Developer Trung Nam Construction Investment Corporation said the project would cover 382ha of land and 380ha of water and was expected to take five years to complete, starting in Novermber.

The company had signed an urban design consultancy contract with the US company Skidmore, Owings and Merrill, who have been consultants on major world projects, including the New World Trade Centre in New York, plus other urban areas in Viet Nam.

"We have taken full advantage of the US designer's unique architecture to attract customers," Trung Nam director of sales and marketing department Nguyen Cong Thi said.

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