The coastal city of Nha Trang is aiming to become a national and international marine tourism hub, acting as a nucleus to fuel real estate development.
A government resolution on construction and development over the next decade targets the creation of a “centrally governed city” for Nha Trang.
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Khanh Hoa province is home to several pivotal areas tailored for urban development, including an airport complex, industrial production, tourism-logistics, and socioeconomic and cultural development spaces centring around Nha Trang.
The coastal city will focus on tourism development, strengthening cooperation and scaling up investment attraction in the real estate segment. The resolution also highlights turning Khanh Hoa into a top destination on the Southeast Asian tourism map, ushering in opportunities to spur urban and real estate development.
Khanh Hoa has submitted to the Ministry of Construction the revised general planning of Nha Trang city to 2040. The planned area covers about 27,500 hectares.
In light of the revised general planning, the city will be developed into a national and international marine tourism hub, acting as the administrative, political, economic, cultural, and sci-tech centre of Khanh Hoa, as well as an education and training and healthcare centre of the south central coastal and Central Highlands region.
Efforts will also be made to turn Nha Trang into a centre of national and international events, a high-tech healthcare centre of international significance, as well as an innovative research centre with a fresh and friendly living environment.
The province has expedited a raft of activities to entice visitors, create new products, and target diverse visitor groups, particularly wealthy foreign visitors.
In terms of infrastructure, research is underway linking Vo Nguyen Giap to the trunk roads of former Nha Trang International Airport, while connecting Cam Ranh Airport to Tran Phu and shortening travel time.
Key transport projects such as Dalat-Nha Trang and Buon Ma Thuot-Nha Trang highways are going ahead at full speed. In addition, Khanh Hoa has embraced road maintenance for five national highways passing the province, and will soon engage in executing several sections of the North-South Expessway’s eastern section.
Experts believe the new development, strategic planning, and comprehensive infrastructure investment will elevate Nha Trang to great heights.
Phan Viet Hoang, general secretary of the Khanh Hoa Association of Real Estate Brokers, believes the direction for Khanh Hoa will expand development for the locality, creating an important driving force for many other areas in the region.
“Once the planning schemes are finalised, the real estate market here will become the beneficiary of a much greater investment flow,” Hoang said.
In light of the approval of the Khanh Hoa master plan submitted to the government last month, by 2030 the province will accommodate many different cities at different grades and development aspects. Nha Trang will act as the nucleus, while Cam Ranh will beef up tourism, logistics, and urban development, and Van Ninh will grow into a high-end marine tourist city.
In light of the urban development programme of Nha Trang city to 2030, the estimated investment capital volume for implementing projects during 2021-2025 is set at $1.27 billion. During 2026-2030, the figure will hit nearly $783 million.
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