The spur of investment into Danang city to cater to the event is expected to create an impetus for the development of city.
Besides leaders from 21 countries, Danang is expected to welcome 15,000 visitors, 6,000 journalists and over 1,000 businesspeople from major international corporations during the APEC Summit Week held in November.
As part of preparations for APEC, Danang has been stepping up infrastructure development through large-scale investment. For example, a 7.87 million USD project aims to convert the Exhibition and Convention Centre into a press centre serving the event, which is scheduled to be completed by July this year. Meanwhile, the new terminal of Danang International Airport began official operations in May. All of these have positively influenced the city's real estate sector.
Matthew Powell, Director of Savills Hanoi, said: “We have seen the opening of the new international terminal, which make a huge difference in term of international arrivals. That continues to drive hospitality and residential sector. We have also seen many investments in roads, improving the infrastructure in and around Danang plus additional bridges. So the airport upgraded infrastructure is really driving things, keeping Danang one of the most competitive cities in Vietnam in attracting investment”.
In addition, prices of property in Danang have also increased. However, they are still reasonable, compared to some other coastal cities such as Nha Trang and Vũng Tàu.
