Vietnam’s Khanh Hoa names investor for $11bn Cam Lam new urban area project

The selected investor is a consortium named Cam Lam New Urban Area Company with five companies: Vinhomes Joint Stock Company, Phat Dat Real Estate Development Co. Ltd., Truong Loc Real Estate Investment and Development Co. Ltd., Urban Green Construction and Trading Joint Stock Company, and Phu Tho Land Joint Stock Company.

The Cam Lam new urban area project, approved by the prime ministet under a decision dated March 25, 2025, spans 10,356.5 hectares across 14 communes and wards of Cam Lam District and Cam Ranh City in Khanh Hoa Province.

Eleven communes and towns are located within Cam Lam District, while the remaining area covers Cam Thanh Nam Commune, Cam Phuc Bac Ward, and Cam Nghia Ward in Cam Ranh City.

Of the estimated investment for the project, VND260.267 trillion ($10 billion) is allocated for the project development, while about VND25 trillion ($1 billion) is earmarked for site clearance, compensation, and resettlement support.

According to the prime minister's decision, the project has a 50-year duration and is scheduled to be implemented from 2025 to 2037.