A series of abandoned billion-dollar shophouses along the Han River

The Marina Complex project at the foot of Thuan Phuoc Bridge in Son Tra District, Da Nang City has more than 100 shophouses that have been completed but abandoned for many years. These shophouses are all in prime locations, with two frontages, adjacent to the Han River.

This is a project invested by Danang Marina Joint Stock Company, built since 2016 in the form of 1 ground floor and 3 upper floors shophouse. About 6 blocks with 111 units were completed since 2020, the selling price announced in 2019 was about 11 to 12 billion VND.

A shophouse block in the Marina Complex project is located on the frontage of Pham Huy Thong - Truong Quoc Dung street with about 15 units, but only 1 unit is currently occupied. The rest have been abandoned for a long time, causing the infrastructure inside and outside to deteriorate and be seriously damaged.

Abandoned billion-dollar shophouses along the Han River - Da Nang

This block of houses is designed with 2 fronts, the back is a garage and garden. Many houses have damaged glass doors and moldy walls.

The inside of these shophouses has seriously deteriorated due to being abandoned for too long. Some of them have leaks causing mold.

Outside these shophouses, grass grows wildly, few people pass by, creating a shabby scene in a prime location along the Han River.

According to the distributor, the project is planned synchronously according to high-class standards to create a bustling 5-star community with a system of shophouses and resort villas.

The shophouses are built with green - smart housing solutions. This is also one of the first shophouse projects built in Da Nang City.

In 2019, the project began selling. In the new phase of operation, these shophouses are mainly rented to tourists .

A block of houses facing Duong Lam street facing the park is now overgrown with grass. Out of about 13 houses in this block, one is currently occupied.

Many people come to these shophouses to live illegally. This is a shophouse on Duong Lam street, inside there are many household items, the door is locked from the outside.

Shophouses located on the front of Le Van Duyet - Ly Nhat Quang street have doors closed and locked.

Nai Hien Dong Ward People's Committee said that these shophouses have been abandoned for many years, since the COVID-19 outbreak. This has caused difficulties for the locality in management. Many people have taken advantage of this area to steal property and gather stolen property.

The ward also had to hire cleaners many times to ensure the aesthetics of the area.

Some houses have for sale signs.

According to the latest report by BKRA - a real estate services group, the shophouse segment in Da Nang City is falling into a state of "hibernation".

According to this unit, the economy faces many challenges, cash flow is difficult and depends on the growth of the tourism industry, causing the liquidity of the shophouse market to continue to be sluggish.

Shophouse series of Marina Complex project on Han River

In Da Nang City, many shophouse projects are also in a slump. Many areas have completed infrastructure but are not put into use. This is a shophouse area located on Minh Mang Street, Ngu Hanh Son District, which is also deserted.

A shophouse area at the foot of Tien Son bridge in Hai Chau district has also closed down in large numbers. The owner has put up a sign for sale or rent for a long time but no one has "looked at" it.

According to BKRA's survey, in October, all three segments of resort real estate, including shophouses, recorded no new supply.

This unit commented that when the tourism industry has not recovered as expected and the macro-economic situation still has many difficulties, the shophouse market is expected to continue to maintain a prolonged stagnation in the last months of the year.

Source: https://nld.com.vn/loat-shophouse-tien-ti-bo-hoang-ben-song-han-196231205080225857.htm