DA NANG, Vietnam – A highly coveted plot of "golden land" (đất vàng) located at 16 Bach Dang Street in the heart of Da Nang has been successfully auctioned off for over 359 billion VND (approximately $14.9 million USD). The final price significantly exceeded expectations, landing nearly 49 billion VND (approximately $2 million USD) above its initial starting price, in a powerful demonstration of the city's robust real estate market.
The property, situated on one of Vietnam's most famous and scenic waterfront promenades, has long been considered a prime piece of real estate. Bach Dang Street runs along the western bank of the Han River, offering stunning views of the city's iconic bridges, including the Dragon Bridge and Han River Bridge. Its central location makes it a hub for tourism, commerce, and high-end hospitality, rendering any available land there exceptionally valuable.
The auction attracted considerable interest from investors, leading to a competitive bidding process. The starting price for the plot was set at approximately 310 billion VND. However, fierce competition among bidders quickly drove the price upward, culminating in the final sale price of over 359 billion VND.
This successful auction is seen by market analysts as a significant indicator of strong investor confidence in Da Nang's economic future. Despite broader economic fluctuations, the high value placed on this prime location underscores the enduring appeal of Da Nang as a leading destination for both domestic and international investment.
The sale not only sets a new benchmark for land values in the area but also signals a positive outlook for the city's development. All eyes will now be on the new owner and their future plans for the site at 16 Bach Dang Street, which is expected to house a landmark commercial, residential, or hospitality project that will further enhance the vibrant landscape of Da Nang's city center.
