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Tony Milton MRICS

BSc (Hons) Est Man
MRICS
APREA (CREIF)

New Urban Areas - Hanoi
Monday, 16 March 2009

NEW TOWN & URBAN SATELLITES

 

 

Around 38 new urban zones are currently under construction in Hanoi adding 300 high rises to the city's sky­line. However, a closer look at the new urban zones such as Viet Hung, Trung Hoa-Nhan Chinh, My Dinh 1, Bac Linh Dam and Nam Trung Yen shows that the construction of public infrastructure is pro­gressing at a much slower pace than planned because investors focus mostly on projects which will benefit them quickly like housing and trade centres.

 

In early 2008, the Ministry of Construction released a plan for the capital region that would divide it into 3 large urban areas each serving specific roles in future development. The plan would affect the capital region which includes the city of Ha Noi and the seven nearby provinces of Ha Tay, Bac Ninh, Vinh Phuc, Ha Nam, Hai Duong, Hung Yen and Hoa Binh. The first area consisted of the central urban area in the south­ern part of Hong (Red) River. As this area includes ancient streets, these streets would be exempt from development to preserve them as heritage sites, while the western and south­western areas were designated for national and international centres as well as high-rise buildings. The second area covered a new urban area in the north­ern part of Hong (Red) River (in Dong Anh District) that could be developed as a centre for commerce, offices and urban services. The final area would be the eastern urban area that covers the Long Bien and Gia Lam districts. This area was pro­posed as a development site for sea ports, industrial zones, technical services, and trans­port centres. According to the plan, the growth centres would be de­signed for future development, and the western area could be used to develop tourism, sana­toriums, training, research and high-tech zones. The southern area included Phu Xuyen, Quan Son and Kim Boi districts of Ha Tay Province that could be­come a new tourism and urban area. Hoa Binh City was envi­sioned as a centre for tourism services, training and trade, as a link between the capital re­gion and the north-western mountainous region. The eastern and south-east­ern areas were proposed to de­velop industrial and urban ser­vices to link up with the ma­rine economy. Their focus could be the Ha Noi-Hai Duong-Hai Phong corridor. The northern and north-east­ern areas were forecast as in­dustrial zones, able to partici­pate in the international eco­nomic corridor to link the Kunming City of China with Ha Long. This would be a key eco­nomic corridor to link Noi Bai international airport with industrial zones in Vinh Yen, Phuc Yen, Soc Son districts and Bac Ninh Province and heavy industrial zones in Pha Lai and Don- Trieu of Quang Ninh Province.

 

The completion of the 6 lane, 30km Lang-Hoa Lac Corri­dor, planned to be the East­ West development corridor of Hanoi Region, is expected to be mostly "quality of life resi­dential" with mixed-use com­mercial, high tech business parks and light industrial, recreation and ecological developments, schools and medical facilities. In Ha Tay today, many of the developments are self-contained townships as opposed to dense urban resi­dential neighbourhoods com­monly seen in Hanoi. There is an estimated 130 residential developments in planning or construction while other recreation amenities are being added to draw interest to liv­ing in the province. Ha Dong City will be developed into a high-density residen­tial area, and the Lang-Hoa Lac Highway Corridor developed into mixed-use townships. Major township develop­ments underway in the province include the 240 ­hectare Nam An Khanh by a joint venture between Posco and Vinaconex, Sudico's 180 hectare Bac An Khanh and Nam Cuong Group's 197 hectare Duong Noi. Other foreign developers such as Booyoung and Hyundai RNC have permission to build residential high-rise complexes in Ha Dong City costing USD$270 million and USD$196 million respectively.

 

Residential projects on the northern bank of Hanoi's Red River are attracting strong buyer interest, particularly around the Viet Hung new town­ship even though developers struggle to lure buyers reluc­tant to live on the other side of the Red River and work in downtown Hanoi. The Thanh Tri and Vinh Tuy bridges have improved access to residential projects in Gia Lam and Long Bien districts.

 

 

South / Bac Thang Long New Urban Area

 

This $1.1 billion 148 hectare project covers 4 wards in the Tay Ho and Tu Liem districts and will provide accommodation for about 10,800 people (each occupying 54sqm, the largest area per person in any of the city's urban development projects). About 30 hectares has been set aside for ornamental trees including 3 hectares of peach blossoms. The development will also include a school, a kindergarten, a health centre, a trade service centre, a centre for cultural activities, luxury hotels, a modern hospital and a 13.8 hectare reservoir. A 30% stake is now owned by the Bank for Investment and Development (BIDV).

 

 

Viet Hung

 

This 302 hectare $99 million residential complex in north east Ha Noi's new Long Bien District will provide about 1 million sqm of space to accommodate 35,500 residents in in 39No. 5-12 storey with a total floor space of 255,000 square meters and 1,890 apartments.

 

 

International Exchange City (IEC)

 

Situated on 95 hectares in Tu Liem and Cau Giay districts, the development is surrounded by Pham Van Dong, Cau Dien and Hoang Quoc Viet and the Nhue river close to Metro and so is considered as one of the most best sites left in Hanoi. The Exchange City was initiated since 1996 by a joint venture between Vietnam International Construction Company and the La Cite Des Exchange from Switzerland. However, after 5 years the Swiss partner withdrew because it could not raise enough capital and the project was transferred to VIGEBA – International Investment and Construction Joint Stock Company – who raised capital from 4 partners: the Cuba-Vietnam Construction Company; the Hanoi Construction Corporation; the Vietnam Insurance Corporation; and the Hanoi Import-Export Corporation. The city is expected to have nine 30 storey buildings, villas, commercial centres, a hospital, schools and entertainment centres and provide accommodation for 12,400 people. The project hoped to develop Hanoi's Tu Liem district into a modern interna­tional city with total invest­ment capital of $500 million.

 

 

Tran Duy Hung

 

This new urban centre in the city's south-west covers parts of Trung Hoa and Nhan Chinh in Cau Giay and Thanh Xuan districts and covers an area of 35 hectares between Ring Road 3 and Tran Duy Hung, linking the down-town area with the west urban suburbs. The new centre will provide around 2.5 hectares for 11 storey apartment buildings and 118,000sqm of property to lease, and include 45,000sqm of public service and exhibition space, and 21,500sqm for schools. The remaining areas will contain parks, housing and car parks. Twin 21 storey towers will be set aside for representative offices with each floor about 3,900sqm and the fourth floors for meeting rooms and information centres.

 

 

Berjaya Handico’s Thach Ban New City

 

 

Malaysia’s Berjaya Land Bhd has announced plans to establish a 80/20 JV with Handico 12 to develop 31 hectares in Thach Ban ward in Gia Lam district. The proposed layout of the project consists of the construc­tion of 9 blocks of apartments with 1,640 units and 228 service apartments, 124 terraced bungalows and an office block with a gross saleable area of about 17,000 square meters and a shopping mall with a gross saleable area of about 43,000 sqm. The social and technical infra­structure facilities shall mainly consist of the construction of an integrated school complex with a canal and garden park and include the provision of basic amenities such as water and electricity sup­ply, drainage, sewerage and roads. The estimated total gross development costs would be about $500 million over 5 years.

 

 

 

Red River City

 

 

More than 170,000 people are living on 11,562 hectares along 40km of river from the Thang Long Bridge to Khuyen Luong Port comprising 27 communes, as well as Ba Dinh, Hoan Kiem, Hai Ba Trung, Hoang Mai, Long Bien, Gia Lam and Thanh Tri districts. The river also accommodates several river ports such as Khuyen Luong, Thuong Cat, Mai Lam, Van Don, Van Kiep and Bo De.

 

 

 

The Hanoi New Town project consists of two sub projects - West-West Lake and the North Red River development. The latter sub project will cover more than 11,500 hectares and accommodate 800,000 people. The total investment capital needed for these projects could be up to $40 billion, therefore they will be divided into a number of smaller projects to help attract investment capital. The 1st Phase will focus on infrastructure and residential development in Nam Van Tri and office buildings in Phuong Trach costing about $8 billion to 2010. The 2nd Phase will follow entailing the expansion of the National Highway 5 and the Nhat Tan bridge that links the crossing with National Highway 3, and will cost an estimated $10 billion to 2015. Development of the Red River Residential Area will be the main focus of the 3rd Phase which will cost UDS$12 billion to 2020. The Hanoi New Town is expected to require total investment capital of $30 billion to develop a total area of 8,830 hectares. The project is expected to provide accommodation for between 750,000 and one million residents by 2020.

 

 

North Red River

 

The future North Red River Residential Area will be located in the current Dong Anh district and provide accommodation for between 764,000 and 769,000 people in the newly zoned residential district comprising an area of 11,562 hectares. The North Red River urban centre will be built in 3 stages:- 

 

1.     The first stage, from 2003 to 2010, will cover 5,000 hectares area in south Van Tri and Co Loa on the out­skirts of the Dong Anh district.

 

2.     The second stage will cover 3,990 hectares in the northern towns of Van Tri and Dong Anh and will house up to 220,000 people.

 

3.     The last phase, of 525 hectares will be divided into 12 sectors, includ­ing building new urban centres and developing 7 infrastructure projects.

 

The North Red River urban area is considered to be the biggest and most synchronous urban area of the northern provinces and is touted as being able to house 770,000 people. Along with the financial zone, the area will also be home to industrial zones, entertainment centres, sport facilities, residential and accommodation areas. Current projects are under con­struction include the Noble golf course, the Sumitomo Industrial Park and the North Bridge new residential area.

 

In mid 2007, Hanoi's authorities announced that the new 25 hectare financial and banking zone previously planned for the West West Lake urban devel­opment area, to the North Red River urban area, would be relocated due to planning issues with the developer - a South Korean backed consortium – who had only set aside an area for public and administrative func­tions who expressed reservations at changing this proposed design. Investors from UK, Japan and Sweden have expressed an interest in being involved in the construction of a financial zone in Hanoi. The zone planned for the West West Lake area had been estimated to cost between $300–500 million depending on the facilities, and become first financial and banking centre in the country, enabling Hanoi to emerge as a regional hub.

 

 

Tradco New Urban Area

 

 

In early 2008, a consortium of 3 investors led by the Switzerland's Tradco Global Engineering & Construc­tion SA outlined plans for a USD$3 billion residential and commercial complex with Vinalines and the Viet Star Group along the Ca Lo river in Dong Anh and Soc Son districts and the capital's Red River. The 400 hectare site would also involve Dong Anh District's Bac Hong commune and Soc Son district's Phu Minh and Phu Cuong, that are a part of the North Red River New Residential Area. There will be one 6 star hotel built on the site with 250 rooms. Other 4 & 5 star hotels will be linked with residential, office and trading centres. In the 1st Phase, the 6 star hotel, an 18 hole golf course, water park and modern villas will be built. The 4 & 5 star hotels will be developed in the 2nd Phases. In the 3rd Phase, a residential area will supply around 2 million square metres of accom­modation. Schools and universities will be developed in the last phases with a hospital and multi-function centres.

 

 

Tay Ho Tay THT–West West Lake New Town Urban Project

 

The West-West Lake residential area would be located in 3 of Hanoi's districts including Co Nhue commune in Tu Liem district, Xuan La commune in Tay Ho district and part of Cau Giay district. The project will cover a total of 85 hectares and include an estimated population of 78,000 people when completed. The area has been earmarked as the new Hanoi administration centre, locating central authority offices and cultural and entertainment centres in modern buildings and in an area with a lower population density than the existing administration centre. According to the plan, residential accommodation will be located in the south of the area including a number of 2-9 storey high-rise buildings, villas and garden-villas, entertainment centres and car parks.

 

In early 2006, a consortium of 5 South Korean companies (Daewoo, Daewon, Kolon, Dong IL and Kyang Nam), obtained a license for this 207 hectare $314 million satellite city project. The project covers 840 hectares over three Hanoi districts : Tu Liem, Tay Ho and Cau Giay, bordered by the South Thang Long, Hoang Quoc Viet and Lac Long Quan dyke roads. The plan will include a television tower, a diplomatic complex, state administration office buildings, trading services, entertainment facilities, luxury hotels, parks, schools and a residential area with 5,000 apartments and villas able to accommodate some 20,000 people. In the first phase the consortium has planned to develop over 300 hectares with 14 hectares of this set aside for houses and apartments. At present about $130 million has been allocated for documentation of the site by the consortium. Completion is expected in 2014.

 

In mid-2007 the People’s Committee approved a decision to expand the land area set aside for the Co Nhue-Xuan Dlnh new urban area to accommodate about 3,734 people. Situated in the north east of Ha Noi, the new urban area includes a school, apartment buildings and houses and a parking lot and according to general director of the Ha Noi Housing Development and Investment Corporation, came with a price tag of about USD$24.7 million.

 

In late-2007, the cost estimate for the Red River City project was revised to at least $7 billion, 3 times more than origi­nally forecast which out­lined USD$2 billion enough for the whole project. On completion, the Red River project will become Hanoi's main business cen­tre with an international finance centre, luxury apartments, a park and entertain­ment centre. The project is being backed by South Korea's Seoul City and will cover 4,000 hectares of land and water. More than 2,000 hectares has been set aside for residential development which will provide 90,000 square metres for apartments and housing, public facilities. Land will also be reserved for international sport events and will house more than 300,000 residents. According to initial esti­mates, more than 35,000 households will be moved to make way for the project.

 

 

Yen So Park

 

In early 2007, Malaysia’s Gamuda announced plans to develop a $1 billion complex of tourism and commercial facilities covering 324 hectares including 5 star hotels, a convention center, high-quality condominiums, villas, and other entertainment facilities.

 

 

Japanese Riviera City

 

In early 2007, the Kanagawa-Vietnam Economic Exchange Association and the Japanese Riviera Corporation announced plans to develop this 19 hectare $500 million complex in Me Tri commune, Tu Liem district (near the National Conference Centre) comprising a five star hotel, office accommodation, residential area, trading centre, recreation and sport facilities.

 

 

 

Kim Giang Residential Area

 

Situated in the south-west of Hanoi the residential area is located in 3 districts: Thanh Xuan, Hoang Mai and Thanh Tri, and will cover a total area of nearly 50 hectares. The city authorities have reserved nearly 30 hectares of this area for a new hotel, housing for lease and a supermarket and about another 1.2 hectares for setting up offices and the same amount for building a car park.

 

 

 

Linh Dam Lake New Urban Area

 

Situated between the Hoang Liet Ward, Hoang Mai District, and Thanh Tri District's Thanh Liet Commune along the south-western side of the Linh Dam Lake covering approximately 76 hectares this 2006 project will provide about 760,000sqm of accommodation for an expected population of 7,800. The plans envisage 54,000sqm for apartment blocks each of between 9 and 18 floors along the northern side along the major road to Linh Dam Lake. Low rise buildings and villas covering 82,000sqm will be divided into 150-300sqm plots along the south-eastern side. Facilities will include parking, kindergartens and schools.

 

 

 

Gia Lam-Dang Xa Residential Area

 

This 39 hectare project in Gia Lam district will provide housing for resettlement plans and workers in industrial parks in the district and be home to about 8,500 people. The project is being developed by the Glass and Construction Ceramic Corporation. Only 13.8 hectares of the area is reserved for houses and apartments with public facilities and infrastructure covering the rest. The area is divided into 10 lots, some for low-rise and some for high-rise buildings with most of the apartments from 75 to 300 square metres in size.

 

 

 

Trung Van Urban Area

 

Situated in Trung Van commune in Tu Liem district, this project will include tall buildings, office space and parking on 12.9 hectares and provide accommodation for 4,000 people.

 

 

Nam Tu Son Satellite City

 

This high-rise project by Thien Duc is part of a new 200 hectare urban compound which has been designed as a sub-city on the border of Hanoi and Bac Ninh province with residential accommodation, office buildings, recreational facilities, schools, banks and hospitals. The developer is aiming to attract buyers to the former paddy fields area by targeting primarily low-income earners with a higher education. Nam Tu Son is located just 15 kilometres from the provincial town of Bac Ninh and 18 kilometres from downtown Hanoi, with access destined to be made easier once the Thanh Tri and Vinh Tuy bridges are completed. Thien Duc are also building luxury Parisian style villas and townhouses on 22 hectares and are exploring options to construct a golf course in the area.

 

 

Northbridge

 

After years on ice, this 86 hectare project in Dong Anh district on the outskirts of Hanoi, beside Kim Chung commune's Van Tri Pond, north of the Thang Long Bridge restarted in late 2006. The Northbridge Development joint-venture was set up between Thai Northbridge Communities and Vietnam's Construction Corporation No.9 in 1997 with total pledged investment capital of $236 million over 45 years with 60% coming from Thailand. The development comprises residential units, medical facilities and a commercial centre with 220,000sqm of villas, 13,000sqm of semi-detached houses and 52,000sqm of apartments.

 

 

Ciputra

 

The $2.1 billion Ciputra International City or Nam Thang Long Urban Area by Citra Development Indonesia, covers 323 hectares and is situated by West Lake and about 7.5km from the downtown area. The 1st Phase comprises residential high-rises, villas and public facilities covering 169 hectares and a complex featuring a clubhouse, recreational area, swimming pool and tennis courts and a $30 million United Nations International School on a 9.2-hectare site within the complex and the biggest shopping centre in Vietnam on 7.3 hectares on Lac Long Quan which will house 1,263 speciality shops, 48 restaurants and cafes, a hyper-market, department stores and entertainment centre.  The 2nd & 3rd Phases comprises 198 hectares. Once complete in 2010, the complex will have about 50 high rise towers with 10,000 apartments and house 45,000 inhabitants.

 

 

Magnum Residential Area

 

In 2004 America's Magnum Group announced plans to invest $1 billion to develop a 400 hectare residential area in Vinh Ngoc Commune, Dong Anh District. However, since the “big American housing group” has since lost its licence to develop a 15 hectare resort in Da Nang’s Non Nuoc beach it is unlikely that anything will ever come of their Hanoi plans either.

 

 

North An Khanh Urban Area

 

 

Korea’s Posco Engi­neering and Construction Co (Posco E & C) and Vietnam Construction & Export Import Corp (Vinaconex) plan to develop this 265 hectare $2 billion 50:50 JV new urban town adjacent to Hanoi. The Bac An Khanh project will in­clude public parks, commer­cial centers, high-end apart­ment and housing blocks, vil­las and offices for lease. It is designed to be built in a state-of-the-art architecture style with a total floor space of nearly 2 million square meters including 1,311 high end villas with a 75­ story twin tower skyscraper. The huge project is expected to be finished in 2013 with the city providing 6,440 apartments, equivalent to 392,319 square metres of accommodation for about 30,000 people. The project site encom­passes An Khanh, Lai Yen, Song Phuong and Van Canh communes in Ha Tay’s Hoai Due District along the 27.8km Lang-Hoa Lac High­way which is also being developed by Posco E & C and Vinaconex. The Bac An Khanh city is strategically located only 5 kilometers from Hanoi's Na­tional Convention Center and is also in close proximity to Noi Bai International Airport.

 

 

 

 

My Dinh

 

The area around the newly ­opened National Convention Centre is acting as a focal point for a new Hanoi sub-centre as domestic and international devel­opers invest millions of dollars into surrounding real estate pro­jects. A significant number of buildings have been rising up in the My Dinh area, west of Ha Noi, and some experts are saying it will cause a redundant supply of hotels, offices, and apartment complexes over the next several years. Last month, the Keangnam Group began work on a USD$1 billion ho­tel and apartment complex project on Pham Hung road in Ha N6i's Cau Giay District. Not far away, the Charnivit Company began construction on the Ha Noi Plaza, which will feature a 360 room hotel and 54,000 sq.m office building, while the Kumho Group will develop the Me Tri exhibition complex. Both projects are esti­mated to have a total investment capital of USD$2.5 billion. The 23 hectares of land in front of the National Convention Centre have been reserved by a joint ven­ture consisting of Japan's Viglacera and Orix companies and Singapore's UOL Co. The JV said it planned to invest about USD$235 million into apartment buildings in the area. Japan's Riviera Group is also eyeing the 4.3 hectare area behind the convention centre, where the com­pany plans to build a USD$500 million hotel, office and apartment com­plex. In the hotel field alone, the My Dinh area has lured in 8 projects, with about 3,500 rooms, according to local authorities. In the offices market, besides the Viglacera Tower, which is already in use, nearly 500,000sq.m will be available over the next 5 years, with new projects like Cong Tay, Vimeco, and Crown Plaza. The projects will turn the area into a new urban centre, along with the Hoan Kiem and Hai Ba Trung districts. With current progress levels, most projects will be completed by 2010-12. But, perhaps in such a short time and in such a small area 500,000 sq.m of new office space is too much when compared to the current 300,000 sq.m of total office spaces now being leased in Ha Noi. These developments will turn a vast area, formerly paddy fields, into a new sub centre of the capital city.

 

 

 

 

The NCC is an iconic building in the city, boasting the biggest hall in the country, able to seat up to 3,800 people. Since opening, corporate and governmental clients regularly hold meetings there and interest from develop­ers is picking up as well. Hotel developers are stamped­ing in, acquiring sites around the NCC for construction. Charmvit Group has received approval for a $80 million hotel and local developers such as Nacimex and Bitexco have also unveiled plans to set up hotels and residential com­plexes around the NCC. Nacimex intends to develop a new town near the NCC that will include a 5 star hotel and Bitexco, which has completed the adjacent 500 unit Manor condominium, is now also building a $32 million office and shopping mall next door and planning a 400 room 5 star hotel and a 300 room 3 star hotel.

 

The rapid urbanisation of Hanoi is pushing developers towards Tu Liem district's My Dinh-Me Tri area to build high-rise properties but some observers are concerned at a possible oversup­ply of office space and hotel accommodation when the buildings are opened for lease in 5 years. CEO Investment is amongst the first developers to move into the area with the joint stock outfit con­structing an office building 200 metres from the National Convention Centre which will provide 20,000 square metres for lease in two years. They anticipate the CEO Tower would command a rental rate from $20-$23 per square metre, slightly higher than the average $17 level that Viglacera, a 17,000sgm office building opposite to the National Convention Centre, is currently leased for. Next to the CEO Tower, Cavico Vietnam is building twin office towers, while Vimeco is working on an office building after selling all residential units in a block next to the Big C hypermar­ket. The area will be trans­formed by the Landmark Tower, a $1 billion residen­tial, hotel and office develop­ment by Korea's Keangnam Enterprise that will boast one 70-storey and two 47-storey buildings with a total floor space of 578,000sqm. Keangnam competed with Japan's Riviera for a 4.3 hectare site behind the National Convention Centre. However, the Japanese com­pany won Hanoi's support and plans to inject $500 mil­lion to build apartments, offices and hotels. Some 8 hotel projects have been planned for My Dinh and Me Tri, including the 630-room Hanoi Plaza by Charmvit Group, Tran Hong Quan Trade Company's 363­room Crowne Plaza and Bitexco's 500-room Mar­riott. Hanoi's Department of Planning and Architecture recently approved another 5 star hotel project to be included in the Phung Khoang new town, a 42 hectare mix-use development oppo­site to the National Conven­tion Centre. There is also a large amount of office space planned in the My Dinh area, probably as much as 500,000 sqm over the next 5 years, which is about double the current total in the whole of Hanoi and there must be a question whether this much office space can be filled up.

 

 

Mo Lao New Urban Area

 

This $170 million high end apartment project in Ha Dong town, Ha Tay province is being developed by the Booyung Vina Co on an area of 43,200 sqm at the end of Nguyen Trai road 6km from Hanoi’s Nga Tu So intersection. With 6No. 30 storey blocks of flats it will pro­vide 5,000 apartments of 100sqm each.

 

 

Riviera-Kanagawa

 

In early 2007, the city authorities agreed to licence a group of Japanese organizations, including Kanagawa-Vietnam Eco­nomic Exchange Association, Riviera and CSK Finance, to develop 3 projects capitalized at a total of $500 million. Under the MOU, the Riviera-led group will imple­ment a project to build offices and high-class houses in a 21 ­hectare area in Kim Chung village, Kim No Commune in Hanoi's outlying district of Dong Anh which is due to get off the ground in early 2008; develop an entertainment complex, including a golf course, covering 80 hectares in Xuan Thu Com­mune in the outlying district of Soc Son (scheduled for construction in 2008); and to develop another golf course with an entertainment complex over 300 hectares in Ta Thanh Oai Commune in Thanh Tri District.

 

 

 

Bridge Inter Line

 

South Korea's Bridge Inter-Line group are building this $70 million luxury resort that will include a 36 hole golf course, four-star hotel and villas. The resort will be built on 180 hectares of land spanning Long Hang and Ngh-la Tru in Van Giang Districts. The project is Hang Yen Province's largest foreign direct investment to date and is sched­uled for completion in 2008.

 

 

 

Lilama IC Son Dong New Urban Area

 

Lilama Investment & Construction Company, the developer of this new urban town in Son Dong in the city’s Hoai Duc District, has instructed Vinaconex R&D and Hyder Consultancy Group as consultants for this project.

 

 

 

TSQ’s Mo Lau Lake

 

TSQ, the Polish Viet Kieu-backed company, is working on feasibility study for a financial and residential complex in Ha Tay province's Mo Lao new town development where it has started construction on a villa compound. TSQ planned to develop a twin 41 storey tower along with 3No. 30 storey residential blocks, an exhibition centre, international school and entertainment complex on 6.3 hectares at an estimated cost fo $100 million. Mo Lao is 15 kilometres from Hanoi's Hoan Kiem Lake and other developers such as South Korea's Booyoung and PetroViet­nam are hoping the road would be extended to Ha Tay to create a chain of real estate projects. Booyoung is building a high­rise residential complex in Mo Lao with 5,000 apartments, while PetroVietnam recently received Hanoi's permission to build an office, commercial and hotel com­plex nearby. All of 257 villas and houses in the village, TSQ hopes to build in the next two years, have buyers. A square metre of land was sold for $500 to $666 two years ago but now fetched more than $930. Most of the buyers are Viet Kieu in Europe. The Warsaw based company will also invest $30 million in a commercial and apartment tower near Mo Lao. It is also a stake holder in a planned university in Ha Tay.

 

 

 

Nam Son – Hap Linh New Urban Complex

 

In mid 2007, South Korea's IGS signed an MOU for developing an industrial and residential complex at a total cost of $1.5 billion in Bac Ninh. IGS will develop factories and showrooms on 400 hect­ares and an urban town, in­cluding a commercial center, school, clinic, park and golf course on 200 hectares in the Nam Son-Hap Linh Industrial and Residential Complex.

 

 

 

Son Tay New Urban Area

 

            Construction Company 21, a unit of State-owned property devel­oper Vinaconex, has commenced work on a 39 hectare residential area in Son Tay in the northern province of Ha Tay. The project will be developed in three phases, with some 600 attached houses and villas to be built in the first phase from now to 2009 at a total cost of $12.9 million.

 

 

Thuong Thanh New Urban Area

 

            Hanoi authorities have approved a zoning plan for Thuong Thanh new urban town in Long Bien District. The new town will cover 124 hectares and have a population of 15,000 people. The plan is envisaged upgrading existing residential areas and developing new buildings of 9-10 stories.

 

 

 

Ao Soa Urban Area

 

            Hanoi authorities have completed the zoning plan for the Ao Sao residential area covering 10,000 square meters and housing some 2,100 people.

 

 

Xa La Urban Town

 

            In mid 2007, Lai Chau 1 Construction Company started work on this 26 hectare town in Ha Tay at a cost of $62 million. SGT

 

 

Kim Van – Kim Lu New Urban Area

            Situated in Hoang Mai District, the urban zone will cover nearly 27 hectares in Dai Kim Ward in the south-west of the city and provide housing for nearly 4,800 people. Nearly 12 hectares of the site will be dedicated to a residential area with 19 floor apartment and condominium towers. The remainder will be for schools, roads and other such infrastructure.

 

   

Trung Kenh New Urban Area

 

            Ha Noi's People's Committee has approved a new development plan for the Trung Kenh urban area located in Hoang Mai District. The project's total area stands at 19.6 hectares with a population of about 3,400. Accommodation will span more than 8.5 hectares with areas in the north and south  reserved for garden houses, villas and open spaces. High-rise buildings will be located along Giai Phong Street while villas and garden houses will open to Linh Dam Canal.

 

 

Gami Comlex

 

            In mid-2007 the Gami Group started work on a 60 hectare urban and service complex in southwest Quoc Oai District in Ha Tay, including a trade             and service centre which will accommodate showrooms and garages for 9 auto-makers.

 

 

Charmvit New Urban Town – Hoa Binh

 

In late-2007, the Korean corporation Charmvit expressed an interest in investing USD$2 billion in an entertainment project in Hoa Binh province 70 kilometres from Hanoi. The province was planning to set aside 1,000 hectares in Luong Son district to develop the centre. Charmvit is also developing a 54 hole golf course and another 5 star hotel with 200 rooms in Luong Son district and working on a complex in Tran Duy Hung street with investment capital of USD$80 million.

 

 

GCN New Town – Hoa Binh

 

Hoa Binh has become a hot desti­nation for property projects after the South Korean firm GCN Corporation proposed to lengthen the Lang-Hoa Lac expressway connecting the Hoa Lac intersection with Hoa Binh City at a cost of at least $150 million for the project. GCN in return have proposed to be permitted to build a new residen­tial area covering 1,400ha of Luong Son district's Tien Xuan and Yen Binh communes including a 36 hole golf course, high rise apartment build­ings, villas, amusement park, hotels, resorts, a school, a hospital and trading centre.

 

 

Song Da New Town – Hoa Binh

 

The Song Da Corporation has signed and MoU to build the 1,400 hectare Tien Xuan-Dong Xuan new urban with investment capital of USD$1.2bn.

 

 

Vietnam Oil & Gas Group New Town – Hoa Binh

 

The Vietnam Oil and Gas Group has got the green light to build an urban area in the province's Yen Trung and Yen Quang districts with investment capital up to USD$1.8 billion.

 

 

Ha Tay urban complex

 

In mid-2007 work started on a 26 hectare residential area in Ha Tay Province, southwest of Hanoi. The USD$64 million project will comprise 6No. 25 story apartment blocks with some 1,200 units and 700 villas and attached houses, as well as other facilities.

 

 

Lang-Hoa Lac Villa Complex

 

In mid-2007 Xuan Cau Company started work on a 45 hectare villa complex alongside Lang-Hoa Lac Expressway in Hoa Binh City. The villas there will cover 300 to 1,000 square meters each.

 

 

Dai Kim-Dinh Cong New Urban Area

 

At the end of 2007 the South East Asia JS Commercial Bank (SeABank) spent USD$18.75 million for the enlargement of the north and north-west Dai Kim-Dinh Cong new urban area of the Ha Noi Housing Trading and Urban Development JSC to be used for compensation and site clearance as well as to fund the next steps of the project.

 

 

PetroWaco New Urban Area

 

In late 2007 Petrowaco Property JSC got approval from Ha Tay to prepare a study and map out a zoning master plan, scale 1/2000, for an 840 hectare project to build up facilities such as university and hospital for serving the oil sector.

 

 

Trung Hoa-Nhan Chinh Residential Area

 

At the beginning of 2008 the project was fully com­pleted after 5 years of construction, with 11 condo blocks of 17 stories, two blocks of 18 stories, two blocks of 24 stories and 138 shop houses having total floor space of 379,600 square meters. The 24.5 hectare residential area, de­veloped by the local property development firm Vinaconex, lies between the capital city's center and Hoa Lac High-Tech Park and helps expand the urban landscape toward the west and southwest of the city.

 

 

Duong Noi New Urban Complex

 

In early 2008 the Nam Cuong Tourism and Trading Co started construction on an over USD$1 billion urban area in Ha Dong City, northern Ha Tay Province. The new complex, named Duong N6i, will cover a total area of 197 hectares including 4.5 hectares of ho­tels and offices, 18 hectares of residen­tial buildings, 32 hectares of villas and some 9.6 hectares of trade centres and markets with a designed capacity of housing between 25,000 - 30,000 people, The Duong Noi complex is part of an ongoing plan by the capital city to expand its geographical territory to the west, especially in Ha Tay Province which will soon be connected to the capital via the Lang-Hoa Lac Highway. Air pollution levels are an­other plus point as Ha Tay Prov­ince clocks in as one of the cleaner areas surrounding Ha Noi. Duong Noi is located some 4 kilometres west of the capital's National Convention Centre, bordering a 1,000 hectare plan to de­velop a trade - tourism - culture and urban area complex.

 

 

Ca Lo River New Urban Area

 

In early 2008 2 local firms (Vinalines & Vietnam Star), announced plans with Switzerland's Tradco Global Engineering and Con­struction S.A to develop a 450 hectare town along the Ca Lo river. The project, if approved, will be imple­mented in four phases, with the fist lasting from 2008 to 2013.

 

 

Hyundai New Urban Town

 

In mid-2008, Huyndai RNC Co Ltd began work on a USD$250 million residential complex and commercial centre in Ha Tay occupying a 4.6 hectare site and including a 99 villa complex and 5 high­ rise buildings complete with a swimming pool and tennis courts, and a trade centre.

 

 

Communications’ City

 

In mid-2008, Vietnamnet Investment JSC announced that it was deploying a USD$800 million in a 700 hectare urban project known as Communications City in Ha Nam Province’s Duy Tien District.

 

 

Viet Han New Urban Area

 

At the end of 2007, the Viet Han Corporation (VHC) announced plans to develop an urban center in Ha Tay Province at a cost of USD$800 million and covering 150 hectares. Indochina Capital and Indovina Bank have pledged to finance USD$120 million for the 1st Phase.

 

 

Cienco 5 New Urban Areas

 

In mid-2008, Cienco 5 Land announced plans to develop 3 new urban areas in Ha Tay Province with total area of 570.7 hectares. The company plans to spend over USD$391 million on these projects.

 

 

Our City

 

In mid-2008 work started on the USD$85 million Our City urban area in Hai Phong which is being financed by Hong Kong Group's Hsieh Feng Vietnam. The complex will covers an area of 43.5 hectares and include apartments, villas, trade centres, hotels and entertainment areas.

 

 

Van Khe

 

By mid-2008 the Van Khe residential area covering 23.9 hectares with total investment capital of USD$14.6 million was in dispute with the owners of pre-sold units due to the substantially increased construction cost demands. It will be developed into a modern resident area by 2010 and comprise 94 villas, 832 apartments in 11 buildings, shopping centres and schools.

 

 

Dan Phuong New Urban Area

 

In mid-2008, the Ministry of Construction proposed a new urban project covering 168 hectares west of the belt-road number 4 in Dan Phuong District in Ha Tay Prov­ince with an expected population of some 34,000.

 

 

Inpyung’s Van Phu Seoul New Urban Area

 

In mid-2008, South Korea's Inpyung Ltd announced plans to carry out a USD$820 million 9.7 hectare project in Ha Tay’s Ha Dong city. Situated in the centre of Van Pha, the city's new urban area, the project will be di­vided into 3 main sec­tions: the USD$660 million Hi Brad multi-storied housing area; the USD$95 million Inpyung Vina; and the USD$65 million Van Phu Seoul serviced apart­ments and trade centre com­plexes. In addition, the South Ko­rean company committed to developing quality hospitals, schools and public services in the area. The project would provide a total of 26 new residential buildings with around 10,000 apartments, which would be able to serve housing demand from people in Ha Dong City and neighbouring areas.

 

 

Long Bien Resettlement Area

 

In mid-2008 the Department of Planning and Architecture announced a plan for a 21.8 hectare budget-house resettlement for lease area in Long Bien District with a population of 4,000 comprising both low-storey buildings and 5 to 15 storey buildings. This is the first budget housing project for those with medium income in Ha Noi, backed by the Housing and Urban Development company, under the Ministry of Construction.

 

 

Berjaya’s Sai Dong A Township

 

In mid-2008, Berjaya Land Berhad announced that the Hanoi People's Committee had agreed in principle with a plan to develop the Sai Dong A township at an estimated cost of USD$2.5 billion.

 

 

Momota’s Trung Hung New Urban Area

 

In mid-2008, the 118 Joint Stock Company (Momota) announced plans to develop a USD$120 million project in northern Ha Tay province's Son Tay city, which will be merged into Hanoi imminently. The government have agreed in principle for the province's people's committee and the company to build an urban area and a 2 kilometre road linking Son Tay old town and Va temple. The company will develop 250 hectares in Trung Hung com­mune into a modern urban area that will comprise high-end vil­las, hotels, houses, office and commercial centres, a golf course and entertainment facilities. The project would be a prime urban area located next to the Tich River, Suoi Hai Lake and near historical places including Son Tay old town, Va temple and the ancient village of Duong Lam. Currently, there are several urban areas located close to Son Tay city and along the under con­struction Lang-Hoa Lac highway, including Phu Thinh urban area covering 49 hectares invested in by the 21 Construction Join Stock Com­pany and the 24 hectares N1 & N3 Quoc Oai urban area bankrolled by the CEO Investment Joint Stock Company.

 

 

Lung Xuan Leisure & Residential Complex

 

In mid-2008, the USD$62 million Lung Xuan tourism and urban complex covering 199 hectares in Xuan Tien Com­mune next to the Suoi Ngoc-Vua Ba tourism area and Ba Vi Nation­al Park by the Lung Xuan Development & Investment Company was announced. The complex will include a conference centre, swimming pool, tennis courts, an enter­tainment area and other tourism facilities, vil­las and luxury residences on 25 hectares and super­markets, restaurants, entertainment facilities on more than 10 hectares.

 

 

Dai Kim Urban Complex

 

In late 2008, a big chunk of the long proposed Hanoi horse racing track was turned into a residen­tial area. The land will be a part of a plan to develop a 196ha township in Hoang Mai dis­trict's Dai Kim commune and Thanh Tri district's Thanh Liet commune. The plan for developing the area was made by Bitex­co. According to the plan the area will be a complex with public facilities, office buildings, residential areas, transportation system, lakes, army's office and Quang An pagoda and Pham Tu communal house. Around 90.2ha will be developed into residential area, with 15.7ha for a transport system, 6ha for sport centre and 68.5ha for public facilities and offices. Another 106ha will be reserved for a cultural park.

 

 

GoldStone-ABA Corp-PetroVietnam Me Dinh Complex

 

In early 2009 PetroVietnam announced that it was negotiating with Hong Kong-based GoldStone International Development and Korea-based ABA Corp to co-invest USD$2-5 billion for a 25 hectare complex comprising a 5 star hotel, high class apartments, an office tower, retail centre and entertainment park. The hotel, apartments and an office complex on 3.7ha will be built in the first USD$450 million phase. The complex comprises a 350-500 room hotel, 700 high quality apartments and 30,000 sqm of grade A office space. The retail centre and entertainment park will be finished with total investment capital of USD$1.5 billion. The project's site is bordered by one of Hanoi's main arterials linking the new Hoa Lac development area with Hanoi. It is next to the National Convention Centre and My Dinh National Sports Stadium.

 

 

 

 

Last Updated ( Saturday, 09 May 2009 )
 
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