The three projects are located at prime locations on Hung Vuong Street in Hai Chau District, about 400 meters from the Han River.
They are the Da Nang Center project (No. 1), Diamond Square project (No. 2), and the Golden Square commercial complex, office, hotel, and luxury apartment project (No. 3).
The Da Nang Center project, invested in by Vu Chau Long Real Estate, covers an area of more than 7,800 square meters and has a total capital of nearly VND500 billion ($21.25 million).
When construction started in March 2008, the project was advertised as high-rise apartment buildings, a high-class standard commercial center, and a five-star hotel and conference center.
However, no development has been going on and rainwater has turned the project area into a pond.
With its northern façade bordering a residential area, part of the project has now been turned into a landfill as locals arbitrarily throw trash into the area.
Lying across from a city park, the Diamond Square project at 84 Hung Vuong St. was designed to have a commercial center, office building, hotel, and high-class apartments.
Invested by Vien Dong Vietnam Land in 2008 with a total capital of $180 million, the project covers an area of more than 11,100 square meters.
Approved in 2008, the project has a floor area of 10,600 square meters. But work has stopped at building floors and pillars.
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