TPO – The Cocobay project ( Da Nang ) was once widely advertised, even with football superstar Cristiano Ronaldo "buying" it, but is still inactive due to unresolved issues.
Da Nang:
TPO – The Cocobay project (Da Nang) was once widely promoted, even with football superstar Cristiano Ronaldo “buying” it, but is still inactive due to unresolved issues.
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The Cocobay project in the coastal area of Truong Sa Street, Hoa Hai Ward (Ngu Hanh Son District, Da Nang) has a total investment of 11,000 billion VND, built on an area of about 31 hectares. The project was advertised as a tourism and entertainment complex with many items such as indoor and outdoor performance stages, tourist squares, walking streets and a system of condotel (hotel apartments) and hotels. |
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Speaking to reporters, a representative of the Department of Construction of Da Nang City said: The project investor has reported the project progress. However, since the report was released, the project has remained stagnant and has not been re-implemented. |
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Accordingly, recently, Thanh Do Investment Development and Construction Joint Stock Company - the project investor has made recommendations regarding the issuance of certificates of land use rights, house ownership rights and other assets attached to land for qualified assets. However, these problems are beyond the authority of the city, so the government has reported to the Central Government for comments. |
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This project was also promoted very loudly, even football superstar Cristiano Ronaldo "ordered" a house in the project. According to records, inside the project, the entire project area is still in a state of disarray, many areas and construction items are abandoned, surrounded by grass and trees. |
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According to the investigation, after the investor unilaterally announced the termination of the contract with the customers of the Cocobay project, the authorities also received many letters of "denunciation and urgent call for help" from customers who bought real estate here. The authorities of Da Nang requested the investor to urgently work with customers and report on the project implementation status. |
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| In April 2024, the investor submitted a report to the People's Committee of Da Nang City and the Department of Construction of Da Nang. In which, the investor mentioned that the preparation work is being urgently deployed and proposed a plan to implement the project in the coming time, such as: Infrastructure works, landscape of the whole area, deployed from April 15, expected to be completed by the end of December 2024. |
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| Particularly, subdivision HH3 - Commercial building, hotel apartments, high-end apartments Co Co 1 started on April 26, expected to be completed in October 2024; residential blocks adjacent to garden townhouses in September 2024. Subdivision HH5 - Commercial building, hotel apartments, high-end apartments Co Co 2 is expected to be completed in August 2025.... |
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| HH7 subdivision – Co Co 4 commercial and luxury apartment building will be implemented from April 26, 2024 and is expected to be completed in April 2025. The garden townhouses will be completed in March 2025; townhouses – shophouses, semi-detached villas, school – service block in December 2024. HH6 subdivision: 2 – 3 storey single villas, expected in March 2025.... |
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| According to the investor’s announcement, the company is in the process of restructuring and preparing resources to launch the project. Therefore, the extension of sales contracts with customers in the past is undesirable… |
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According to the representative of the Department of Construction of Da Nang City, the "bottlenecks" of the project are waiting for the Resolution of the National Assembly to be passed to have a basis to remove the obstacles related to Conclusion 2852 of the previous Government Inspectorate . If these "bottlenecks" are removed, the project will be able to continue to be implemented. |
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