Da Nang announces four housing projects available for foreign ownership

The Da Nang Department of Construction in Vietnam’s central region has announced four commercial housing projects that can be sold to foreign individuals and organizations.

The projects include Olalani Riverside Towers in Son Tra district, and apartment buildings on land plots B4-1 and B4-2 in the Han River tourism and service area, the Hoa Quy - Dong No River urban area, and the New Town urban area, all of which are in Ngu Hanh Son district.

Foreigners are eligible to own over 1,700 units in these projects.

Under the Law on Housing 2023, foreigners can own up to 30 per cent of residential apartments in a building, with an ownership limit of 50 years.

If any projects were to fall within areas designated for national defense and security by the Ministry of National Defense or the Ministry of Public Security, contractors cannot lease or sell properties therein to foreign organizations and individuals.