Announcing Da Nang housing project allowing foreigners to own

On February 21, information from the Da Nang City Department of Construction, this unit has just announced the list of commercial housing projects allowed for foreigners to own and has just been supplemented with a new project.

Specifically, the project licensed in this phase is Tuyen Son High-rise Apartment Building, Commercial Office and Housing Area.

The project is located on Quy My street, Hoa Cuong ward, Da Nang city. The investor of the project is Tuyen Son Housing Development Joint Stock Company.

The Da Nang City Department of Construction requests Tuyen Son Housing Development Joint Stock Company to be responsible for carrying out real estate business activities, selling and leasing houses for foreign organizations and individuals in accordance with current legal regulations.

According to the provisions of Clause 1, Article 95 of Decree No. 95/2024/ND-CP dated July 24, 2024 of the Government, the legality of foreign ownership will be closely bound by national security factors.

In case the project belongs to an area that does not need to ensure national defense and security but is later changed to an area that needs to ensure national defense and security (according to the notice of the Ministry of National Defense and the Ministry of Public Security), the investor is not allowed to continue to lease, buy, or sell houses to foreign organizations and individuals.

For foreign organizations and individuals who have owned houses subject to clearance in cases where the area has changes in security regulations, compensation will be implemented according to land policies and laws for national defense and security purposes.

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