Approval of Investment for Two Projects in Van Phong Economic Urban Area

On September 10, 2025, the joint venture of Phu Quoc Sun Company Limited and Ha Long Sun Company Limited (members of Sun Group) was officially approved as the investor of two urban development projects in the Van Phong Economic Zone, with a total estimated investment capital of over VND 65,000 billion and a combined land area exceeding 4,000 hectares. The projects include Dam Mon New Urban Area and Tu Bong New Urban Area.

Both projects have received in-principle investment approval from the Prime Minister and are currently in the preparation stage:

1. Dam Mon New Urban Area Project

• Location: Dai Lanh Commune, Van Ninh District, Khanh Hoa Province.
• Scale: More than 1,440 hectares, including approximately 82 hectares of reclaimed land.
• Total Investment Capital: Estimated at over VND 25,645 billion.
• Components:
  • 791 terraced houses
  • 592 villas
  • 858 condominium apartments
  • 352 social housing units
  • Along with other supporting facilities.

2. Tu Bong Premium New Urban Area Project

• Location: Van Thang, Tu Bong, and Dai Lanh Communes, Van Ninh District, Khanh Hoa Province.
• Scale: Over 2,579 hectares, of which 621.8 hectares are reclaimed land.
• Total Investment Capital: Over VND 43,000 billion.
• Components:
  • 609 villas
  • 3,812 condominium apartments
  • 1,130 social housing units
  • Along with other supporting facilities.