The Marina Complex project at the foot of Thuan Phuoc Bridge in Son Tra District, Da Nang City, has over 100 completed shophouses that have been abandoned for many years. These shophouses all have prime locations, with two street frontages and bordering the Han River.
This project, invested by Da Nang Marina Joint Stock Company, was built starting in 2016 with a shophouse design consisting of one ground floor and three upper floors. Approximately 6 blocks with 111 units were completed in 2020, and the selling price announced in 2019 was around 11 to 12 billion VND.
A block of shophouses in the Marina Complex project, located on the Phạm Huy Thông - Trương Quốc Dung street frontage, has approximately 15 units, but only one is currently occupied. The rest have been abandoned for a long time, causing severe deterioration and damage to both the interior and exterior infrastructure.
Million-dollar shophouses lie abandoned along the Han River in Da Nang.
This building block is designed with two facades, and the back features a garage and garden. Many units have damaged windows and moldy walls.
The interiors of these shophouses are severely dilapidated due to being abandoned for too long. Some units suffer from leaks, causing dampness and mold.
Outside these shophouses, weeds grow profusely, and few people pass by, creating a shabby scene in this prime location along the Han River.
According to the distributor, the project is planned comprehensively to high-end standards, creating a bustling 5-star community with a system of shophouses and resort villas.
The shophouses are built using green and smart housing solutions. This is also one of the first shophouse projects built in Da Nang City.
In 2019, the project began sales. In the initial phase, these shophouses were primarily rented out to tourists .
A block of houses facing Duong Lam street and overlooking the park is now overgrown with weeds. Of the approximately 13 houses in this block, only one is currently occupied.
Many people come to these shophouses to live illegally. This is a shophouse on Duong Lam Street; it's filled with household items inside, but the door is locked from the outside.
The shophouses located on the Le Van Duyet - Ly Nhat Quang street frontage are locked and bolted.
The People's Committee of Nai Hien Dong ward stated that these shophouses have been abandoned for many years, since the outbreak of COVID-19. This has created difficulties for the local authorities in management. Many individuals have taken advantage of this area to steal property and store stolen goods.
The ward also had to hire cleaners several times to maintain the area's aesthetics.
Some houses have "For Sale" signs.
According to the latest report from BKRA, a real estate services group, the shophouse segment in Da Nang City is currently in a state of "hibernation".
According to this unit, the economy faces many challenges, cash flow is difficult, and it is dependent on the growth of the tourism industry, causing the liquidity of the shophouse market to remain sluggish.
The series of shophouses in the Marina Complex project along the Han River.
In Da Nang City, many shophouse projects are also facing sluggish sales. Many areas have completed infrastructure but remain unoccupied. This particular shophouse area on Minh Mang Street in Ngu Hanh Son District is also deserted.
A row of shophouses at the foot of Tien Son Bridge in Hai Chau District has also closed down en masse. Owners have had "for sale" or "for rent" signs up for a long time, but no one has shown any interest.
According to a survey by BKRA, in October, all three segments of resort real estate, including shophouses, recorded no new supply.
This unit predicts that, with the tourism industry not recovering as expected and the macroeconomic situation still facing many difficulties, the shophouse market is expected to continue its prolonged slump in the remaining months of the year.
Source: https://nld.com.vn/loat-shophouse-tien-ti-bo-hoang-ben-song-han-196231205080225857.htm
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