(KPL/VNA) Prime Minister Pham Minh Chinh has recently approved the investment policy for two new urban areas in Van Phong Economic Zone in the central province of Khanh Hoa with a total capital of more than 65 trillion VND (2.5 billion USD).

The Dam Mon New Urban Area, which is located in Dai Lanh commune, will cover more than 1,440ha, including more than 82ha of land formed from sea encroachment and 3.99ha of land for social housing development. The expected population of the area is 28,540 people.

It is expected the will include 791 townhouses, 592 villas, 858 apartments, 352 social housing apartments, service works, tourist accommodation facilities and resorts and other public works.

The project, which has a total investment capital of nearly 25.53 trillion VND, will be implemented from the second quarter of 2025 to the fourth quarter of 2034.

Meanwhile, the Tu Bong New Urban Area project covers more than 2,579 hectares, including more than 621.8ha of land formed from sea encroachment and 7.18ha of land for social housing development. The expected population of the project is 74,700 people.

Housing products include more than 1,000 townhouses, 609 villas, 3,812 apartments, 1,130 social housing units along with service works, tourist accommodation facilities and resorts and other public works.

This project, which is located in Tu Bong, Van Thang and Dai Lanh communes, has a total investment capital of more than 42.8 trillion VND. The project will be implemented from the second quarter of 2025 to the fourth quarter of 2034.

The two projects will be allowed to select investors according to the provisions of Resolution No. 55 of the National Assembly on piloting a number of specific mechanisms and policies for the development of Khanh Hoa province.

KPL