Explaining the attraction of real estate for both residence and business in the center of Da Nang

Da Nang's economy and tourism are recovering strongly, welcoming new growth momentum. Combined with the "natural fragrance" appeal of the most worth-visiting, worth-living, and worth-investing city in Vietnam, the flow of migrants is continuing to flock to Da Nang - with the dream of an ideal place to live and do business in the city center.

Real estate enjoys heat from tourism

In the first quarter of 2023, the number of guests served by accommodation establishments in Da Nang is estimated to reach more than 1.42 million, an increase of 4.6 times over the same period in 2022 and an increase of nearly 14% over the same period in 2019. Previously, the livable city welcomed 7.8 million tourists in the whole year of 2022. Domestic visitors also reached a 5-year high of 6.8 million, an increase of nearly 2 times year-on-year. This is a very positive signal, especially for a city where the tourism - service sector accounts for more than 68% of GRDP and has suffered negative growth during the 2 years of Covid-19.

Da Nang always has a special attraction for tourists.

Da Nang tourism has quickly recovered thanks to the leverage of the city's strong internal strength, possessing attractive natural resources, gathering a series of unique and diverse tourism products, both traditional and modern; a series of festivals and exciting events all year round. This year, the return of the Da Nang International Fireworks Festival (DIFF) after a 3-year hiatus promises to help the city's tourism boom, attracting a large number of visitors to admire the eye-catching performances on the Han River.

The heat of tourism has spread to the high-end real estate segments associated with tourism and resorts in the Da Nang market. In the context of the real estate market being negatively affected by the Covid-19 pandemic and the general difficulties of the economy, products that meet real housing needs and have the ability to exploit business services for sustainable profits still have their own appeal. Especially in central locations - where land funds are increasingly limited.

Da Nang International Fireworks Festival returns this June, after a 3-year hiatus due to the pandemic.

“The outlook for the Da Nang market will remain positive in the long term. The fundamental factors of macroeconomics, infrastructure development, human resources, foreign investment attraction and natural advantages for tourism activities remain stable. These are the fundamental factors that create the city's attractiveness in the eyes of businesses and investors, especially in the resort real estate segment,” said Mr. Matthew Powell, Director of Savills Hanoi.

Surveying the hotel system along the Han River, the occupancy rate is always high. Especially on occasions when the city has an international fireworks festival, the occupancy rate is 100% very early. Meanwhile, the food and beverage service shops along the Han River, busy streets such as Tran Hung Dao, Nguyen Van Thoai ... are also always crowded. That is the reason why real estate in the central area, along the Han River, located on the main road always has high attraction and liquidity. However, the "golden" land fund in the riverside area is almost exhausted.

The future "puzzle piece" of a world-class tourist city

With a well-planned orientation, many people expect Da Nang to soon become “a Singapore of Vietnam”, attracting multinational tourists not only for entertainment but also for long-term residence and work. At that time, the brand of “a city worth visiting, worth living, worth investing” of Da Nang will be more clearly positioned, on a global scale.

Da Nang - a city worth visiting, worth living, worth investing.

Looking to the future, we can see that real estates possessing a complete set of values: residence, resort, investment, located in the city center, easy to exploit and do business will have sustainable value that multiplies over time, becoming valuable assets.

“When luxury tourists come to Da Nang, the value of real estate will increase, and the efficiency of real estate business will be very good. We must determine that a rich person will only set foot in a certain place when it meets the standards and quality of service. And when they arrive, they will spend many times more than other tourists,” said Mr. Nguyen Van Dinh, Vice President of the Vietnam Real Estate Association.

In order to turn Da Nang into a luxury destination for international tourists, for many years, large enterprises have invested in tourist areas, amusement parks, resorts and luxury hotels, meeting the needs of high-spending tourists. In the coming time, the tourism infrastructure of the Han River city will continue to be supplemented with the missing "pieces" to diversify experiences, increase the length of stay and spending of tourists.

Right at the rare remaining location in the city center, next to the Han River, near the foot of Tran Thi Ly Bridge, Sun Property (a member of Sun Group) has researched and developed a high-end real estate complex, diverse in types, multi-functional and fully equipped with utilities called Sun Cosmo Residence Da Nang. The project will be launched at the end of this May.

Sun Property is about to introduce a new project next to the Han River. (Illustrative perspective image)

Adjacent to the two bridges Nguyen Van Troi and Tran Thi Ly - representing the two traditional and modern values of the Han River city, Sun Cosmo Residence Da Nang brings a different living and investment experience. The harmony between the Han River scenery with the poetic bridges next to it, the scent of My Khe beach wafting not far away, and the bustling urban vibe at vibrant gathering places such as Nguyen Van Thoai, Tran Hung Dao ... brings a modern lifestyle that is both private and peaceful but also trendy. From this location, residents can easily immerse themselves in the vibrant, colorful events and festivals held regularly along the Han River.

Moreover, located at the international intersection, the gateway to the main roads, the center of the multinational community in Da Nang, and developed according to a dynamic, modern complex model with full amenities, Sun Cosmo Residence Da Nang will become a business paradise for food, entertainment, shopping services... attracting Da Nang residents, foreigners and millions of tourists - like other bustling "Western streets" in Hanoi and Ho Chi Minh City.

Sun Cosmo Residence Da Nang complex is located in a prime location right in the center of Da Nang. (Illustrative perspective image)

Sun Cosmo Residence Da Nang is worthy of being the starting point of every journey: the journey to connect the community of residents migrating to Da Nang and the journey to make Da Nang an international destination. These are also potential residential and business real estates, with a unique position, with the ability to increase sustainable value over time.

On May 28, 2023, at Novotel Danang Premier Han River Hotel, Sun Property will organize an event to introduce the first subdivision of the Sun Cosmo Residence Da Nang project with the theme BE GLOBAL - BE “COSMO”.

This will be an opportunity to grasp information about potential residential and investment products in the center of the most worth-visiting, worth-living, and worth-investing city in Vietnam.

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