Along with key projects, driving forces and public investment projects being implemented in the city, there are many large construction projects and private housing projects under construction and groundbreaking... This is the basis for achieving added value (VA) of the construction industry, which is expected to flourish in 2024.
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| The projects and works to be constructed in 2024 will contribute to the revival of construction activities and increase the added value of the construction industry. IN PHOTO: The TTC Plaza Da Nang Complex at 46 Dien Bien Phu is under construction. Photo: HOANG HIEP |
In early January 2024, Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land) and Coteccons Construction Joint Stock Company started construction of the TTC Plaza Da Nang Complex project at 46 Dien Bien Phu (Chinh Gian Ward, Thanh Khe District), opposite 29/3 Park. The project consists of 2 towers with 18 floors above ground and 2 basements. After just over 1 month of construction, the entire land area has been dug, the basement has been built... According to plan, the project will be completed and put into operation at the end of 2025.
Recently, TTC Land and AeonMall Vietnam Co., Ltd. signed a memorandum of understanding to cooperate in implementing Aeon Mall Commercial Center on 4 floors at the base of the TTC Plaza Da Nang Complex Project (AeonMall Vietnam leases 4 commercial floors at the project to build Aeon Mall Commercial Center).
TTC Land Chairman Dang Van Thanh shared: “TTC Plaza Da Nang is one of the projects with a prime location with 4 facades in the center of Da Nang city. We are currently constructing to hand over the commercial center on schedule to Aeon Vietnam”.
At the land plot with 3 frontages on Bach Dang extended street, Binh Minh 4 and Tran Van Tru street ( Binh Thuan ward, Hai Chau district), a number of vehicles and materials have been gathered and deployed for static compression to prepare for the construction of the Da Nang Landmark Tower Complex project. This project is invested by Cosmo Housing Joint Stock Company with 1 tower of 31 floors and 1 tower of 39 floors, expected to be completed and put into operation from the 4th quarter of 2025.
Ms. Tran Kim Ngan, representative of Cosmo Housing Joint Stock Company, said: "The project has a total investment of 1,600 billion VND. When put into operation, it will not only create a highlight on the banks of the Han River but also contribute to the development of the city."
In 2023, the city has removed difficulties and obstacles, creating conditions for 7 investors to fulfill their financial obligations regarding land before granting construction permits for parking garages under the Da Nang Times Square project, the Ba Na Hills Eco-tourism Complex project (part of the Ba Na Hills - Suoi Mo Eco-tourism Complex project); the Suoi Mo Eco-tourism Complex project at the foot of Ba Na Mountain; the Anh Duong Apartment Complex project in the Hoa Quy - Dong No Riverside Urban Area... along with a number of hotel projects, commercial centers, offices, tourist apartments (condotels)...
When many projects are implemented in 2024, it will contribute to helping the city complete the construction industry's VA target for the whole year at VND 3,800 billion, an increase of 6.9% compared to 2023 (VND 3,555 billion) and contribute to increasing the total product value ratio in the city (GRDP) compared to 2023.
Director of the Danang Statistics Office Tran Van Vu acknowledged: "If only a few projects are implemented and the construction and real estate industries develop, the above targets can be completely achieved."
Also according to the Da Nang Statistics Office, the construction industry's VA in 2023 decreased by 8.36% compared to 2022 due to the saturation of housing construction demand; high prices of construction materials; frozen real estate market... causing profits in the construction industry to decline.
In addition, the slow progress of project construction due to land and site clearance procedures that have not been completely resolved also affects the development speed of the construction sector. In recent times, with many solutions from the city, VA, the construction industry has shown an improvement trend over the months.
In January 2024, retail sales of wood and construction materials increased by 60.5% compared to the same period in 2023, wholesale sales also increased by 22.7% compared to the same period. Based on the results of 2023 and the series of statistical data in recent years as well as the results of running calculation models and research by scientists and experts, the General Statistics Office forecasts that the VA of the construction industry in 2024 will continue to improve, flourish, and increase compared to 2023.
HOANG HIEP
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