Daewon Cantavil Construction Company of South Korea’s Daewon Group held a ground-breaking ceremony in Danang yesterday for Da Phuoc International New Town, the first urban development in the central region to use land created by filling in the sea.
|An artist's impression of Da Phuoc International New Town in Da Nang Province's Hai Chau District|
Known as D-City for short, the project in Hai Chau District will cover 210 hectares, including 180 hectares of reclaimed land, and is scheduled to take ten years to complete.
Da Phuoc will consist of an international hotel, smaller resorts, an 18-hole golf course, a marina, a convention center, a 60-storey office block, shopping centers, a 33-storey apartment building with 8,500 dwellings, villas, international schools, a fun park, even an opera house.
Daewon Cantavil will put US$250 million into the project, US$50 million of which will go on equipment and materials.
The most modern technology will be used to survey the topography and water flows, and in construction.
At the license presentation in November, Daewon chairman Chun Young-Woo promised that Daewon Cantavil would stick to the construction schedule.
Filling in the sea will take about 30 months, after which the golf course will be built and should be finished in 2011. Construction of the hotel and villas will begin in 2010, said Daewon Cantavil’s deputy managing director, Cheun Eung Sik.
Located at the end of the East-West Economic Corridor through Myanmar, Thailand, Laos and Vietnam, D-City is a landmark project for Vietnam and should do much to spur Danang’s growth.
According to Mr. Chun Young-Woo, this is Daewon’s second largest project in the world and its fifth in Viet Nam.
Two of the other four Daewon projects are located in Ho Chi Minh City: a 400-apartment complex in partnership with Thu Duc Housing Co. and a 200-apartment project, Cantavil-Hoan Cau, with the Hoan Cau Company.
A third, the 300-apartment Daewon-Hancic Cantavil project, is being undertaken in the national capital with the Hanoi Construction and Investment Company.