Accommodation demand expands potential for Han Riverfront apartments

Da Nang – The recovery of tourism, alongside investment capital inflows and a growing workforce of experts, is driving up accommodation demand. This opens up opportunities for Han Riverfront apartments to both generate cash flow and serve long-term investment goals.

In the first half of the year, accommodation establishments in Da Nang served nearly 9.8 million visitors, a 22.5% increase compared to the same period last year. Revenue from accommodation and dining services reached approximately 32,400 billion VND, up 21,6%, reflecting the continued growth in accommodation demand alongside the recovery of the tourism sector.

Simultaneously, investment and business activities have become more vibrant. According to the Statistics Office, in the first six months, the city saw 3,899 newly established enterprises and branches, a 31.1% increase year-on-year, with a total registered capital of 19,141 billion VND, up 60.1%. During the same period, Da Nang granted licenses to 47 new domestic investment projects with a total newly registered and adjusted capital of nearly 74,800 billion VND, up 73.3%, while attracting 66 new FDI projects with a total registered capital of 283.5 million USD, up 113.5%.

The recovery of tourism and investment inflows is reshaping the city’s visitor demographic. Beyond leisure tourists, Da Nang is increasingly attracting experts, entrepreneurs, and workforce members working on investment and manufacturing-business projects. Consequently, accommodation demand is expanding in both length of stay and service standards.

The Han Riverfront area in Da Nang at night. Photo: M Riverside Danang

The increase in tourists, experts, and businesspeople also highlights the central area’s role in meeting accommodation needs. According to the master plan, the Han Riverfront and East Bank subdivision is designated as the administrative-political center, a riverfront and coastal tourism gateway, and a hub for the city’s financial, commercial, conference, service, and cultural activities.

The concentration of multiple urban functions enables the Han Riverfront to simultaneously serve the needs of vacationers, experts, entrepreneurs, and long-term guests. In this context, operational capability has increasingly become a key criterion for investors, alongside location and appreciation potential.

This trend is also reflected in the apartment market. According to DKRA Consulting, Ngu Hanh Son Ward led the Da Nang market in the first quarter, accounting for 47% of primary supply and 59% of transactions. The report also noted that price levels continued to rise for projects with convenient connectivity, complete legal status, and development by reputable developers.

Perspective of the restaurant at the M Riverside Danang project. Photo: M Riverside Danang

In this context, Han Riverfront projects are considered advantageous due to their central locations and accessibility to various guest segments. This also serves as a foundation for many developers to design apartments combining accommodation, work, and leisure.

Featuring three street fronts along 2/9, Binh Hien, and Dao Tan streets near the Han River, M Riverside Danang aims for a similar model by planning living, working, and leisure spaces within the same complex. The project rises 25 stories high with three basements, offering 312 apartments including studios, one-bedroom, and two-bedroom units. From here, residents can connect to the administrative center, commercial areas, and Da Nang International Airport, while easily reaching My Khe Beach, the Dragon Bridge, and the venue of the Da Nang International Fireworks Festival (DIFF).

Perspective of the swimming pool amenity at the project. Photo: M Riverside Danang

Targeting experts, businesspeople, digital nomads, and long-term guests, the project features co-working spaces, business rooms, and meeting rooms. The amenity system also includes an infinity pool, gym, yoga room, rooftop lounge, and sauna on the rooftop, aiming for a model that integrates accommodation, work, and leisure within a single complex.

Riverside Danang is developed through a collaboration between Sao Mai Viet (HNX: UNI) and Kyoritsu Maintenance Vietnam. According to the businesses, Sao Mai Viet’s real estate development experience combined with Kyoritsu Maintenance’s hospitality management and operation capability serves as the foundation for the project to aim for international operating standards, meeting accommodation demands as Da Nang continues to grow its tourism and attract investment.