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Fast Facts

Date : Sunday, 04 October 2009
Category : Realty - Hanoi General

CHRONOLOGICAL ORDER : Scroll to bottom for latest info


070107- Each month there are about 3,000 vehicles newly regis¬tered in Hanoi. The capital is expected to have about 200,000 motor vehicles and nearly two million motorcycles, excluding cars operated by administrative and local authorities this year. The city is currently reserving just over 1 per cent of city's land for car parking, while most cities in the world typically reserve 6 to 7 per cent. VIR

220107-Korea’s Kumho Asiana is seeking to widen its investments in Vietnam. The corp’s chairman arrived for the purpose saying the they are considering investing in a new urban area covering 207 hectares in Tu Liem with a total cost of USD$700m. SGT

250107-Malaysian property developer Ber¬jaya Land (BLand), will JV for the 31 hectare mixed development project in Hanoi worth $294.1 million. The project will consist of 9 apartment blocks comprising 1,640 units, 228 serviced apart¬ments, 124 terrace bungalows, an office block with gross saleable area of about 17,000 square metres and a shopping mall with a gross saleable area of 43,000sgm. The Berjaya-Handi¬co12 Residential and Commercial Project will be located at Thach Ban Ward, Long Bien district in Hanoi. VIR

040407-The Vietnam Oil and Gas Corporation (PetroVietnam), Vietnam Con¬struction Import-Export Corporation (Vinaconex), and Vincom Joint Stock Co. PetroVietnam will build a complex comprising a 350¬room hotel of 5 star stan¬dard, luxurious apartments and offices covering 3.7 hect¬ares in Tu Liem District. The complex will require USD$75 million and open in March 2010. SGT

040407-Vinaconex will build a commer¬cial center in Hai Ba Trung District at an estimated cost of more than USD$62.5 million to open in July 2010. SGT

040407-Vincom will develop an eco-tourism resort plus a 36-hole golf course cov¬ering 500 hectares in Long Bien District with around USD$93.75 million in the first phase of this tourism complex. Vincom has proposed sev¬eral buildings, club house, parking lot, tennis court, swim¬ming pool, and ornamental plant and bird gardens. SGT

0507-Developed by an amalgamation of the Cuba-Vietnam Construction company, the Hanoi Construction Corporation, the Vietnam Insurance Corporation and the Hanoi Import-Export Corporation – VIGEBA - Hanoi's $600 million Exchange City project has been forced to delay construction. The Exchange City is located in one of the most sought after chunks of Hanoi, surrounded by Pham Van Dong, Cau Dien and Hoang Quoc Viet streets and the Nhue river and boast high rise buildings, villas, semi-detached houses and parking lots when it is completed by 2013. The 95 hectare city will accommodate at least 12,400 residents. The project will also set aside land for building more than 840 apartments for people made homeless by the project. The Exchange City was initiated since 1996 by a joint venture between Vietnam International Construction Company and the La Cite Des Exchange from Switzerland. The project hoped to develop Hanoi's Tu Liem district into a modern international city with total investment capital of $500 million. However, after 5 years the Swiss partner withdrew because it could not raise enough capital and the project was transferred to VIGEBA. VIR

0507-The Hanoi People's Committee made public a 90 project wish-list calling for investment. The list contains 33 projects in trading and services, 24 projects in culture and entertainment, 18 projects developing public facilities and 10 housing projects and 5 industrial projects with total investment capital of $2.5 billion but inefficient procedures at the local level was still a turn off for many. "This is the invisible wall which hinders investors who want to push their projects." Hanoi wanted to develop 2 key groups of projects : the North Red River area; and the banks of the Red River. The Mayor said the city needed huge investment capital of about $37 billion to 2010. The city's budget could only supply less than $10 billion. "The rest will be based on investors." Trieu said. VIR

Biggest projects to attract foreign investors
Project's name Venue Size Schedule
Thuong Thanh hotel Long Bien district 2.5 hectare 2007-2008
Vinh Hung trading centre Hoang Mai district 3.5 hectares 2008-2010
Dai Kim hotel complex Hoang Mai district 4.7 hectares 2009-2010
Phu Dong - Duong Ha golf course Gia Lam district 200 hectares 2007-2010
Eco-tourism and parking lot Tay Ho district 10 hectares 2007-2010
Xuan Phuong new residential area Tu Liem district 135 hectares 2007-2010
Tennis court Tu Liem district 3.56 hectares 2007-2009
Auto service centre and parking lot Cau Giay new resy area 2.4 hectares 2007-2010
Waste treatment station Thanh Tri district 12 hectares 2007-2010

0707-The price of apartments in some old block in Hanoi has doubled following news they are to be refurbished soon. The price for a 30 square ¬metre apartment had increased to around VND600 million ($37,500), compared with VND350 million ($21,800) at the same period last year. After being rebuilt, existing owners will be resettled in new apartments with the additional square paid by the government. The current common apart¬ment size of 14 to 18 square metres will increase to 40-80 sqm. According to Hanoi People's Committee, all old living quarters will be eliminated and rebuilt from now to 2015. So far there have been only 2 projects completed. According to the Ministry of Construction, more than 3 million square metres of old apart¬ments built prior to 1980 are slow¬ly falling apart in Hanoi, Ho Chi Minh City and Haiphong. VIR

140407-Hanoi's investment authority has pledged to put an end to scores of stalled foreign¬ invested projects in the city unless the investors can come up with some solu¬tions. Projects on the black list, which were granted invest¬ment licences but could not get off the ground, include the $240 million Tran Song Hong urban development, the $15.7 million Noi Bai golf course, the $28 million Hai Ba Trung Reality office building, the $40 million SAS Hanoi Royal Hotel, the $57 million Hanoi horse race track, the $656 million CDMA 2000 mobile service, the $152 million Sai Dong A industrial park, the $2.7 mil¬lion Hanoi International School, the $50 million International American Hos¬pital, the $1.7 million Hanoi Bohemia venture and the $10 million 3 star Indochine hotel. But at least 5 large-scale projects are on the drawing board including : South Korea's Charmvit's 5 star hotel with the estimated investment capital of $80-$100 million, Malyasia's Gamuda's park at Yen So lake ($580 million), UK Pacific Land's Nam Thang Long biotech park (estimated $1 bil¬lion) and the proposed Sai Dong A hi-tech park ($1 billion). VIR

040507-21 officials in Hanoi have been disciplined for dereliction of duty over the illegal development of hi-rise buildings in the capital. SGT

0507-Hanoi's planned financial and banking zone will be moved from the West West Lake urban development area to the North Red River urban area following zoning problem. The West West Lake project was required to set aside 25 hectares for use as a financial and banking zone. However, in its designs, the South Korean-backed consortium had only set aside this area for public and administrative functions, and expressed reservations at changing this proposal due to the infrastructure and marketing modifications required. The zone planned for the West West Lake area had been estimated to cost between $300 million and $500 million, depending on the facilities. Spread over an area of 25ha, it was expected to be the first financial and banking centre in the country, enabling Hanoi to emerge as a regional hub. The North Red River urban centre will be built in 3 stages. The 1st Stage from 2003-2010, will cover a 5,000ha area in south Van Tri and Co Loa on the out-skirts of the Dong Anh district. The 2nd Stage will cover a 3,990ha area in the northern towns of Van Tri and Dong Anh that would house up to 220,000 people. The 3rd Phase, of 525ha, will be divided into 12 sectors, including building new urban centres and developing 7 infrastructure projects. The North Red River urban area 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, Sumitomo industrial zone and the North Bridge new residential area. VIR

0507-Land clearance and compensation has been completed for more than 100 hectares of the West West Lake urban development project. West West Lake is a $314 million project backed by a Korean consortium to develop a modern city to the west of Hanoi's West Lake. The project, planned to cover 207ha of the city's 3 outlying districts of Tay Ho, Cau Giay and Tu Liem, will include office buildings, commercial centres, luxury hotels, residential areas, parks and public service works. Many projects are delayed because investors are not able to negotiate compensation packages with local residents, with developers taking an average of 36 months to complete these activities. For other projects, negotiations could be much longer. VIR

070507-Hanoi will auction 17 plots of land totaling 295 hectares. The maps, land transfer procedures and site clearance have been completed. SGT

080507-The new Hanoi Land Development Centre has been assigned the job of providing land clearance and compensation for land covering a total of 300ha of for 18 projects this year. The centre recently finished compensa¬tion procedures for the X2 land lot for a five-star hotel in Me Tri-Tu Liem, along with the X3 land lot in Me Tri park project, the southwestern Kim Giang urban area and many other projects. Minh added that four land lots will be put on the auction block by the year's end, expecting to add about $18.7 million to Hanoi's budget. In the past investors have claimed that land clearance and compensation was one of the most difficult hurdles when imple¬menting real estate projects. Many projects were delayed because investors were not able to negotiate com¬pensation packages with local residents, with developers taking an average of 36 months to complete these activities. For other projects, negotiations could be much longer. VIR

180507-Ha Noi People's Committee issued a list of 90 projects seeking investors including 33 in the commercial services sector, 24 in sports and educational facilities, and 18 in infrastructure development. The remainder included building complexes and industrial projects. Among the largest projects were infrastructure for a 125ha industrial zone in Soc Son District, a 526ha tourism project in the West Lake area, the Ti Thanh Oai golf course on an area of 200-300ha, and the Xuan Phuong New Urban area on 135ha. Commercial and services projects on the list include proposed shopping centres and hotels. A planning scheme for the northern Hong (Red) River area, long eyed by foreign investors, was also announced. Infrastructure will be built on 4,500ha in this area, requiring capital of about US$30 million. Total capital needs for the city's infrastructure development are estimated at $37 billion. The State budget would likely cover about 25% with the rest coming from private financing and investment. VNN

310507-According to the develop¬ment master plan, by 2020 the city of Ha Noi would increase to 2,800 from 925 at present, with a population of 5 million compared to the present figure of 3.5 million. Under the plan, urban area would account for 85%. The city's GDP would account for be¬tween 15-16% of the country's GDP - an increase of one and a half times over the present figure. Income per capita per year is expected to reach USD$7,500, triple the present figure or about 2.2 times the national average. In the 5 years ending in 2010 Ha Noi planned to increase its GDP by 12% per annum. VNN

010607-An auction of 1,586.9sqm of land in My Dinh – Me Tri new urban town in Hanoi’s Tu Liem District will be held on 3rd June with the reserve prices set at VND17 million / USD$/1,057sqm ie USD$1.677m. The lot is planned for building villas. SGT

280507-According to the Ministry of Construction, only 70% of construction sites in Hanoi have building permission. Out of these, 34% have ignored building restrictions. VIR

050607-Hop Nhat Co. Ltd. has won an auction of 1,586.9 square meters of land in My Dinh-Me Tri new urban town in Hanoi's Tu Liem District at a price of VND65.9 million / $4,098 per square meter, triple the reserve price of VND17 million / $1,057. Of the 33 companies vy¬ing for the lot, Hop Nhat JSC won with US$4,118. In total, the company will pay $6.53 million for the prop¬erty, which experts say is too high. Hop Nhat must begin construction within a year of receiving the property and are allowed to erect several 3 to 4 story buildings. SGT & VNN

140607-Hanoi’s Thanh Tri district auctioned 8,622sqm of land in Ngoc Hoi IP for USD$3.3m ie USD$382/sqm. This land use rights last 50 years and the site can only be used for office or commercial developments. SGT

180607-Hoang Mai District - the Kim Van-Kim Lu urban zone, covering nearly 27ha in the district's Dai Kim ward in the southwest of the city, will provide housing for nearly 4,800 people.. Nearly 12ha of the site will be dedicated to a residential area, with apartment and condominium towers rising up to 19 storeys, and the remaining area dedicated to schools, roads and other infrastructure. VNN

030707-Hanoi will have an additional 1,500 hectares for urban devel¬opment and 3,000 hectares for greenery and public works alongside the Red River's banks as outlined in the Korean zoning plan. SGT

060707-Development along the Red River : Seoul will put up USD$5 million and share its own experiences develop¬ing on either side of the Han River in the South Korean capital city. The current project's proposal entails the construction of new, and consolidation of old dikes up to 45 kilometers in length along both banks of the Red River. About 1,500 hectares of alluvial plains will accommodate 300,000 people in new urban areas. An es¬timated 18,000 people, however, will be forced to relocate. SGT

140707-The Hanoi People's Committee has announced that it will need approximately USD$15.6 million for land clear¬ance and compensation this year. The money is needed to fund the resettlement of more than 13,000 households located near construction projects. According to the city's Land Clearance and Compensation Management Board, 269 projects are in the process of clearing 1,528 hectares and compensating residents. Thu committee previously planned to launch 155 land clearance and compensation projects this year. In the first half of 2007, 82 projects were completed with total compensation of USD$140 million and more than 5,400 households were resettled. VIR

180707-Coralis’ 65-storey Hanoi City project is a joint venture between Luxembourg based company Coralis SA and Lohr Industrie worth $114.6 million. Licensed since January 2005, the 14,094 square-metre Hanoi City site is situated at the corner of Lieu Giai and Dao Tan streets, oppo¬site the Hanoi Daewoo hotel. The complex will comprise offices, apartments, a shopping centre, supermarket, cinema, health care cen¬tre and a car park. Office space will occupy floors 7 to 28, while the apartments occupy the 29th to 62nd floors. When realised, it will dwarf the recently opened 34-storey Vinaconex building in the Trung Hoa-Nhan Chinh Residential Area. VIR

200707-The Finance Department is set to auction a house of a State owned company at a floor price of VND16.5 billion / $1.03m ie USD$9,330 / sqm. The house is located at 110 Ba Trieu Street in Ha N6i's Nguyen Du Ward and covers an area of 110 sqm. Investing in building a housing project at the location is in conformity with the city planning. The height of the project is capped at 5 storeys. SGT

120807-According to director of the Ha Nbi Department of Planning and Investment more than 220 companies have registered to bid for 79 property projects in the city. Of these projects, the Xuan Phuong Urban Area in Tu Liem District interests most investors with 43 bidding applications. VNN

080907-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 US$1 billion ho¬tel and apartment complex project on Pham Hung road in Ha N6i's Cau Giay District. Not far away, the Charnivit Com¬pany began construction on the Ha Noi Plaza, which will feature a 360 room hotel and 54,000sq.m office building, while the Kumho Group will develop the Me Tri exhibition complex. Both projects are esti¬mated to have a total investment capital of $2.5 billion. The 23 hectares of land in front of the National Convention Centre have been reserved by a joint ven¬ture 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 com¬pany plans to build a USD$500 million hotel, office and apartment com¬plex. 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.

140907-For the first 7 months of 2007 relevant authorities in Hanoi have issued reports on 1,988 construction viola¬tions, 175 cases of which were legal violations, 806 didn't have the proper li¬cense and 777 cases in which the project had no li¬cense at all. VNN

170907-The Hanoi Old Quarter Management Unit (HOQMU), said the ancient street area had been in a serious state of dis¬repair for a long time and the HOQMU was unable to preserve and protect areas of the old quarter which have such a high population density. The area that needs most improve¬ment stretches over 10 communes in Hoan Kiem district. At present, more than 15,000 inhabitants are living in the ancient streets in poor conditions with an average floor space of 0.5 to 1.8 square metres per person. Moreover, 63% of accommodation is seriously deteriorated and 12% is not safe enough for human occupation. According to Decision 45, which was issued by the Hanoi People's Committee, 76 streets and 1,081 old houses in the area are on a preservation list. In addition, there are 112 histori¬cally important buildings which are in urgent need of renovation. The old quarter of Hoan Kiem, called the "36 streets and corporations" quarter, has been the historic heart of the old trading city for nearly 1,000 years. VIR

190907-Hanoi officials and South Korea's Seoul experts have dis¬cussed a megaproject to develop a new urban town along the banks of the Hong River in the capital city. The 2,462 hectare town will comprise 97,000 apartments for 342,180 people. The project will require total investment of US$7 billion and lead to the relocation of 170,000 residents in the area. SGT

090907-According to the Ministry of Construction, more than 3 million square metres of buildings built before the 1980s in Hanoi, Ho Chi Minh City and Haiphong are seriously dilapidated and accommodate more than 100,000 households. Hanoi has 23 residential quarters comprising 1 million square metres which are in urgent need of renovation. The buildings are mainly in the Thanh Cong, Giang Vo, Van Chuong, Nguyen Cong Tru, Thanh Xuan and Kim Lien areas. All are low rises. In addition, Ho Chi Minh City needs to rebuild 6 of its most dilapidated buildings, cov¬ering a total of 500,000 sqm. So far only 2 projects have been picked up, one in Kim Lien and another in Giang Vo commune. The investment incentives include exemption from land use and lease taxes and permis¬sion to transfer a part of the pro¬ject for commercial purposes. VIR

250907-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 con¬cerned at a possible oversup¬ply 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 con¬structing 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 hypermar¬ket. The area will be trans¬formed by the Landmark Tower, a $1 billion residen¬tial, hotel and office develop¬ment 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 com¬pany won Hanoi's support and plans to inject $500 mil¬lion 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 363¬room Crowne Plaza and Bitexco's 500-room Mar¬riott. 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 oppo¬site to the National Conven¬tion 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. VIR

051107-My Dinh is emerging as the fastest growing new urban town of Hanoi City. In addition to The Manor property project which is underway along Pham Hung Street, work on many other projects has just been and will be started there in My Dinh to create a new satellite city. The major projects include the 70-story Keangnam Hanoi Landmark Tower, the CEO twin tower, the Crown Plaza, the Hanoi Plaza, Licogi 13 complex, and the Hanoi Indochina Plaza. VNN

101107-Most National Assem¬bly deputies of the Ha Noi delega¬tion agreed yesterday that State property should be available for hire to avoid waste and raise revenue. But they worried about how the property should be managed and how the profits from the hire or lease of it collected. The State should list appropri¬ate lease prices to make it easier for both State management agen¬cies and lessees. Deciding how to en¬sure the suitable use of State property and who will man¬age it was most important. This should be transparent and clear to avoid corrup¬tion. The Finance Minister and provincial and district People's Committees chair¬persons should have the right to requisition property. VNN

121107-My Dinh (west of Ha Noi) is still the fastest growing new urban area in the city AND by 2011, around 300,000 sq.m of of¬fice space, hotels, retail centres and residential projects will be on the mar¬ket in the area which is perceived as an increasingly attractive investment destination due to its strategic location and infrastructural develop¬ment. VNN

111107-The $223 million joint venture between Vietnam, Singapore and Japan has kicked-off. The VOU Investment Co. was set up between Vietnam's Glass and Ceramic for Construction Corporation (Viglacera) and the Singaporean-Japanese firm Orix-UOL Investment. The company has invest¬ment capital of $60 million, 60 per cent of which is held by Viglacera, and received an investment certificate last week. Its project, Western Gate, will comprise a mod-ern complex of office, com¬mercial and residential areas, as well as sport and education facili¬ties. In an area of 40,000 square metres in Tu Liem district's Me Tri com¬mune and Cau Giay district's Trung Hoa com¬mune, the joint venture will build 1,000 apartments, a 350-room hotel, a 30-storey office tower and a 24,000sgm shopping centre. It is expected that the Western Gate project will contribute to easing the population density in the centre of the city, and help develop the western areas of Hanoi. Among other com¬panies interested in the area are Japan's Riviera with a plan to develop a $500 mil¬lion estate. South Korea's Keang¬nam is also developing a 70- storey complex worth $1.05 billion, and the Kumho Asiana Group has said it will invest more than $1 billion to develop the future My Dinh Exhibition Centre. VIR

201107-The Hanoi People's Committee has issued a decision that sets auction fees for individuals. The city will collect VND50,000 to VND18.5 million / $1,150 from those who auction their properties and from VND20,000 to VND500,000 / $31 from their customers. SGT

041207-Hanoi to revise up land prices by 20% Land prices in Hanoi will grow 20% next year if the city's People's Council approves this proposed rise. The Hanoi People's Committee has submitted the proposal, which sets the highest rate of VND67.5 million / $4,196 per square meter of land along the streets in the center of Hanoi. SGT

310108-The Hanoi Department of Natu¬ral Resources and Environmental estimated that the capital city would collect land taxes and related revenues of more than VND4.8 tril¬lion (over US$300 million) this year. The total amount includes over VND3.6 trillion / $225m from auctions for land use rights. SGT

020208-The Hanoi Planning and Invest¬ment Department, said the city's area will be tripled to 3,200 square kilometres and contain nearly 7 million people once the city's expansion plan is approved. The expansion plan will be closely based on the Red River Regional Master Plan and the Social and Economic Development Strategy. The city will spread out to Ha Tay, Hoa Binh, Vinh Phuc, Bac Ninh, Hung Yen, Hai Duong and Ha Nam provinces. Hanoi will remain the political, administrative and economic development hub, while neighbor¬ing provinces will be developed into industrial zones and vocation¬al villages. The capital was current¬ly rapidly spreading westwards to Tu Liem district's My Dinh com¬mune, with growth soon extending to the eastern bank of the Red River. In 1998 the government assigned the city to develop the river banks. In the past 6 years the Hanoi People's Committee has coordinated with consultancy firms from Japan, South Korea and the US to research the development of land north of the Red River. The 11,000 hectare area in the northern bank, which has a population of 1.5 million, offered exciting opportunities for develop¬ment. Two bridges, Vinh Tuy and Thanh Tri, are under construction while the Nhat Tan bridge is expected to start construction early this year to help developers pene¬trate the river's northern bank. The west of Hanoi would be reserved for devel¬oping tourism and resort facilities, the north and northeast for devel¬oping industrial and urban sites, while the east would develop ser¬vices and agriculture. VIR

280208-Hanoi needs about USD$1 billion for the cultural and transport projects planned for its 1,000th anniversary in 2010. But so far, it has been able to mobilize USD$250,000. VNN

100308-The Ministry of Construction reports that Ha N6i will need US$13 billion by 2020 to improve its transport system. The city would also have set aside between 15-20% of its total land for construction of transport facilities. 150 inner city intersections will be expanded and upgraded while 46 new ones will be built on bypasses to ease traffic congestion. VNN

120308-The completion of the 6 lane, 30km Lang-Hoa Lac Corri¬dor, planned to be the East¬ West development corridor of Hanoi Region, is expected to be mostly "quality of life resi-dential" with mixed-use com¬mercial, 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 resi¬dential neighbourhoods com¬monly 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 liv¬ing in the province. Ha Dong City will be developed into a high-density residen¬tial area, and the Lang-Hoa Lac Highway Corridor developed into mixed-use townships. Major township develop¬ments 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. VIR

150308-Hanoi plans to raise US$137.5 million from the auction of land-use rights this year. There will be 21 auctions and sites will include 14.4ha in Cau Giay, 3ha in Long Bien, 3ha in Le Mat, 25ha in S6c Son and 41.3he in Tu Liem. The city has advanced $6.25 million to support implementation of the projects. The city will develop the infrastructure for the land to be auctioned and have 35 such projects listed for this year, with 8 new and the remainder from previous years. VNN

180308-Hanoi City's Department of Natural Resources and Environment received $1.4m from auctioning a land plot covering 350 square meters in Tu Liem District's My Dinh-Me Tri area, averaging out at over $4,160 a meter. The auction winner will not be allowed to build high-rise structures at the site. SGT

200308-Two local firms - Vinalines and Vietnam Star - and Switzerland's Tradco Global Engineering and Con¬struction S.A have introduced a plan to the Hanoi government to develop a 450 hectare town along the Ca Lo river. The project, if approved, will be imple¬mented in four phases, with the fist lasting from 2008 to 2013. SGT

250308-A consortium of 3 investors led by the Switzerland's Tradco Global Engineering & Construc¬tion SA outlined plans for a $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 accom¬modation. Schools and universities will be developed in the last phases with a hospital and multi-function centres. VIR

280308-The People's Council agreed yesterday that the size of Ha Noi should be tripled and its population almost doubled in the next 12 years. It proposes the merging of Ha Tay Province - land and people - Vinh Phuc Province's Me Linh district and four communes of Hoa Binh Province's Luong Son District with the capital city. The city would ex¬pand to 3,325 and its population to almost six million. It would have 29 district and 575 communal admin¬istrative units. The proposed "new" Ha Noi would border Bac Ninh and Hung Yen prov-inces to the East; Hoa Binh and Phu Tho provinces to the West; Ha Nam Province to the South and Thai Nguyen and Vinh Phuc provinces to the North. VNN

310308-Land prices in Ha Tay Prov¬ince have begun leaping since the People's Council of Hanoi City unanimously adopted a resolution on the city's geo¬graphic expansion encompassing the whole Ha Tay Province, Me Linh District of Vinh Phuc and 4 communes of Hoa Binh's Luong Son District. The price of a plot of land put up for auction around 2 months ago was VND18 million per square but it has now surged to VND25 million / $1,155-$1,603. SGT

120408-The government of Hanoi is pushing for a mega-project worth US$7 billion to develop a new city along the Red River. The planned new city will be di¬vided into 4 sections covering a total of 1,500 hectares. Section 1 will stretch from Chem to Thang Long Bridge, section 2 from Thang Long Bridge to Chuong Duong Bridge, section 3 from Chuong Duong Bridge to Thanh Tri Bridge and section 4 from Thanh Tri Bridge to Bat Trang. The new city will stretch 40 kilo¬meters along the Red River and house a little more than 340,000 people, around 10% of Hanoi's cur¬rent population. One of the challenges faced by the project is to relocate 170,000 people from 39,000 families. This job, which is estimated to cost US$1.5 billion, should be completed by 2020. SGT

050508-In mid-2008, the PM approved a plan that will see the development of the Ha Noi Capital Region (HNCR) over the next 40 years which will cover an area 13 times larger than the capital itself at present, following a planning scheme approved by Prime Minister. The HNCR will consist of Ha Noi and the 7 provinces of Ha Tay, Vinh Phuc, Hung Yen, Bac Ninh, Hai Duong, Ha Nam and Hoa Binh. Eventually, this super Ha Noi region will cover an area of nearly 13,000 square kilometres and have a radius from 100 to 150km. The total population of the region is expected to reach between 18 million and - 18.2 million by 2050. Of this, urban population will surge from about 4.1 to 4.5 million in 2010 and from 8.1 to 9.2 million in 2020. By 2050, the figure will be 14.4 to 15.4 million. Average urban land per capita in the region will be 115 square metres by 2050. The HNCR will be devel¬oped as a concentrated, multi-polar urban region stretching out 55km to 90km from the edge of Ha N6i City. The whole capital city re¬gion will be divided into three sections, an Central Core, an outer Adjacent Area and a Counterpoise Area. Spatially, the city will de¬velop in three directions with three urban zones - in the South, the North and the East of the Red River. The major industrial cen¬tre of Ha N6i will be in the eastern area, stretching from the municipal centre to the provinces of Hai Pheng and Quang Ninh. Industrial companies ca¬pable of causing pollution will be moved to the outskirts. The displacement will be ac¬companied by the establish¬ment of satellite urban zones, such as Bac Thang Long, Nam Thang Long, Bo De and Yen Vien. VNN

160508-In mid-2008 the PM approved a plan for a Hanoi "super region" 13 times larger than the capital at present, including 7 surrounding provinces. VNN

150508-Hanoi will need nearly US$13 bil¬lion for transport development un¬der a zoning plan mapped out by the Ministry of Transport for appli¬cation until 2010, with the focus on public transport means able to meet 30-35% of the traffic demand there. SGT

150508-The People's Committees of Cau Giay, Dong Anh and Long Bien Districts are auctioning off land-use rights at the Cau Giay new urban area and Lien Ha Commune with plans to develop housing projects in Cu Khoi, Giang Man, Ngoc Lam, Thach Ban, and Disc Giang Wards. The floor price for plots ranges from US$375 to US$812.5 million per sq.m. VNN

240608-Prices of "golden” lands in Ha Noi's Old Quarter remain exorbi¬tant despite the recent freeze in the real estate markets. At a recent bid organised by the Ha Noi Natural Re¬sources and Environment Department's Ha N6i Hous¬ing Management and Development Company, a square metre of land of a house on 48 Hang Bong Street, Hoan Kiem District, was recorded at VND506 million (US$30,600). Similarly, a house on 120 Hang Bong Street is being advertised for sale for VND342 million ($20,700) per sq.m. Investors are still interested in buying property in Old Quarter's streets like Hang Ngang, Hang Dao, Hang Bong and Nha Thu or those along West Lake at prices of roughly VND450 million ($27,200). Land in streets like Ly Thuong Kiet, Tran Hung Dao and Phan Chu Trinh, known as "foreigners streets", were advertising sales at roughly VND250 to 300 million / $15,000-$18,000 per square metre while prices of prop¬erties in riversides of West River and Bay Mau River were fluctuating around VND150 to 200 million / $9,000-$12,000 said the broker. However, brokers said that for land to be truly consid¬ered "golden" to investors, the area must be between 400sq.m to 1,000sq.m, if not more as it needs to be used for the construction of office buildings, high end apart¬ments or commercial complexes. VNN

090708-The PM has approved a master transport plan for Hanoi City, which requires nearly US$18 billion, to realize the vision of making transport in the city modern and easy by 2020 with a radius of 30 to 50km. Up to $8.3 billion will be ear¬marked for the system of urban railways, and $7 billion for build¬ing and upgrading roads in the city. The system of urban railways will play the crucial role in Hanoi City's transport system, linking the core zone with satellite urban areas in the Capital Region like Ha Tay, Bac Ninh, Vinh Phuc, Hung Yen, Bac Giang, and Thai Nguyen. Under the master plan, the urban railway system by 2020 will have 5 main routes. These include Route No. l stretching 38.7km to link Ngoc Hoi, Yen Vien and Nhu Quynh; Route No. 2 extending 35.2km to link Noi Bai Airport and the heart of the city, and Route No. 3 extending2lkm from Nhon station to Hanoi Station and Hoanh Mai Area. The 5th route will be some 34.5km, linking up southern West Lake, Ngoc Khanh, Lang and Hoa Lac, while the 4th route will be a con¬nector of all the other 4 railways. By 2020, it is envisioned that pub¬lic transport means will meet 35% to 45% of demands, while individual vehicles will be restricted. Motor¬cycles will meet just 30% of the total transport demand then. The land area for developing trans¬port facilities by 2020 will be 13,800 hectares, accounting for 15% of the total land area of the city. Roads will require 11,500 hectares, while rail¬way transport will require only 1,100 hectares. SGT

170708-According to the Ministry of Con¬struction's Housing Management Bureau, Ha Tay particularly has more than 220 projects in new residential and urban development. Most of these projects implemented to accommodate residents from Hanoi. VIR

020807-The drawing of the new border lines of Ha N6i early yesterday marked a new milestone in the his¬toric expansion of Viet Nam's capital. The expansion, approved by the National Assembly in late May, makes Ha N6i the 17th largest capi¬tal in the world with a total area of more than 3,300 Today's expanded Ha N6i takes in 6.2 million people, double the previous population. Ha Tay no longer exists as a separate prov¬ince, with 2.5 million people. The new capital also sees in its fold Vinh Phuc Province's Me Linh Dis¬trict and four communes of Hoa Binh Province's Luong Son District. VNN

020908-Nearly 70% of the ancient relics in Thang Long – Ha Noi are seriously damaged and have been partly overtaken by residents and agencies. However, it’s impossible to preserve them because of a lack of legal tools and investments, according to the Ha Noi Relics and Beauty Spots Management Board. VNN

110908-By 2020 the country's real estate market will need some 1,300 million square metres of housing, equaling some 16 million apartments. A survey revealed that only 14% of Hanoi's housing is apartments in a city with a population density of 368,000 people per VIR

290908-A consortium of Perkins East¬man, Posco E&C and Jina was last week chosen by Prime Min¬ister Nguyen Tan Dung to set up a master plan for Hanoi city's expansion to 2020 and 2050. Previously, three consor¬tiums from America, Japan, Netherlands and South Korea had submitted their proposals to the government : a Japan-Nether¬lands consortium between Arata Isozaki and Metropolitan Archi¬tecture; a South Korea-America consortium between Posco E&C, Perkins Eastman and Jina Architecture; and US-based RTKL. Posco E&C, Jina Architect and Perkins Eastman proposed that only around 40 per cent of the capital city should be reserved for urban development, with the remaining 60 per cent set aside for a green corridor and public spaces. Perkins Eastman is among the top architecture and design firms in the world and Jina has close to 40 years experience in the Middle East and Southeast Asia. VIR

071008-The PM has ap¬proved a plan to mobilise in¬vestments of nearly US$15 billion from both domestic and foreign sources to build urban rail systems in Ha Noi and HCM City by 2020. The Ha N6i network, in¬cluding elevated railway and underground systems, will cost $7.35 billion. Of this, $5.54 billion will be raised from foreign sources and the rest domestically. The Ha N6i network will comprise seven routes - Ngoc Hoi-Yen Vi6n; Tu Liem-Thuong Dinh; south of Thang Long-N6i Bai Interna¬tional Airport; Nhon-Ha Noi railway station; Ha Noi rail¬way station-Hoang Mai; Ha Noi-Ha Dong; and south of Ho Tay (West Lake)-Ngoc Khanh-Lang-Hoa Lac. VNN

091208-The capital city of Hanoi has announced new land prices for 2009. The highest price of VND67.5 million / $3,974 is applicable to some areas in the downtown but the lowest price of rural land is only VND150,000 / $8.83 per square meter. SGT

070109-PetroVietnam is in talks with Hong Kong's Goldstone International De¬velopment and Korea's ABA Group to join a construction project in Me Tri Commune, Tu Liem District. The project includes construction of a 5 ¬star hotel, an office building and a luxury apartment building worth US$450 million in the 1st Phase, and an entertainment park, a com¬mercial center and a tower worth US$1.5 billion in the 2nd Phase. SGTW

120109-PetroVietnam is 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 Stadi¬um. VIR

190109-Ha Noi authori¬ties expect to collect US$440 million from various land use fees and taxes in 2009 of which $394m will come from land-use fees, $283m from rentals, and the remaining $11.8m from registra¬tion fees and property taxes. Under the city's land-use plan, over 5,000ha would be allocated in 2009 including 1,000ha for industrial zones, transportation and other urban infrastructure. In 2008, the city collected only $179 million from auctioning 38.2ha ie 470/sqm. Of that total area only 8.3 ha auctioned for about $10,638/sqm were in old Ha Noi. In the former Ha Tay areas recently an¬nexed to the city, 11.4ha were auctioned for a total of $387/sqm, while an¬other 18.47ha were auc¬tioned for $236/sqm in Me Linh District. Parts of what used to be Ha Tay Province have val¬ues that have risen by 2-3 times over cur¬rent values under a plan re¬cently issued by the Ha Noi's People’s Committee. VNN

090209-Hanoi City has regulated that developers of hous¬ing projects in some districts pay a construction fee equivalent to 0.5% of the total building cost. Investors in other localities and outlying districts will be subject to 0.2% and 0.1% respectively. SGT

120409-New regulations for land rentals were introduced by the Municipal People's Committee on Thursday. The annual rent on land used for production, transport work and business is 0.5% of its value. It will be 0.7% for other services, including commerce, tourism and banks. Production, transport and business companies renting land in Soc Son, My Duc, Ba Vi, Quoc Oai and Thach That districts and Dang Xuan, Yen Binh, Yen Trung and Tien Xuan communes will also pay 0.5% while other businesses in the areas will pay 1.2 to 1.5%. VNN

140409-The Hanoi City government has started work on a housing project for low-income people on the CT19A land plot in Long Bien District's Viet Hung new urban area. The project is to be developed on over 24,000sqm with 500 out of 800 condos to be leased. Its units will measure from 35-60sqm each in 6 story buildings. Hanoi authorities recently pro¬vided 3,000 low priced houses for civil servants but still cannot meet the housing demand of around 86,000 low-income earners in the city. Hanoi plans to develop a dormitory project in Ha Dong District next year. SGT

030809-As of the end 2008 some 381 projects covering a total area of 4,055ha, or 12.5% of Hanoi’s total assigned land were re¬ported to be progressing slowly. This number includes 294 projects that were sluggish in land clear¬ance and 48 projects that hadn't done any investment activities over 12 consecutive months. The last 39 projects were 24 months behind schedule. In the first 6 months of 2009 Ha Noi has revoked 14,960sqm of land from 6 projects for leaving the land unused for too long. VNN

200809-Cau Giay Service Trade & Investment JSC will build a complex of commercial center and offices in 25No. 38 story blocks and a 50 story luxury department store worth over VND3.5tr / $169.5m in Cau Giay District. SGT

121009-Hanoi has approved the auction of unused or misused land plots owned by 8 state run groups in the city in an effort to recover VND2tr / $112m the city budget this year. SGT

201009-Trung Thuy Group started work on the 27 story office commercial center apartment building complex The Lancaster Hanoi worth $36.4m in Ba Dinh District providING 50,000sqm of floor areas and 250 high class apartments with floor areas of 50-250sqm. SGT

211009-Coralis Vietnam Co today will re¬start the Hanoi City Complex project worth over US$400 million and covering about 1.4 hectares in Hanoi's Ba Dinh District. Once operational, the 65 story tower will offer over 250,000sqm of floor areas. SGT

231109-Hanoi government has submitted to the city's People's Council the land price list for 2010, suggesting the highest rate at VND81m / $4,531sqm for land at prime sites. The new prices are up by 20%-40% against current levels. SGT

010310-Construction department figures show that Ha Noi has 970 State owned French¬ style with 804 misused. VNN

210610-Buildings higher than 9 storeys will not be allowed in the Ba Dinh political centre, the Old Quar¬ter and the Ho Guom, Old Citadel and Army areas. Five other areas will also have strict limitations on con¬struction, according to the proposal. Last year authorities reviewed a total of 223 on-going high-rise con¬struction projects in the four central districts of Hoan Kiem, Hai Ba Trung, Ba Dinh and Dong Da. The Prime Munster decided to stop all high-rise work in these areas in De¬cember last year. Capital city authori¬ties were also asked to stop granting licences for high-rise construction projects in Hoan Kiem, Ba Dinh, Hai Ba Trung and Dong Da districts. SGT

260610-Land prices in some areas in Hanoi have increased by 35¬-40% while the number of successful transactions has increased by 25-30% in comparison with the end of last year. Land plot prices in some residential projects belonging to South An Khanh and Glex¬imco urban area projects in Hoai Due district ranged from $1,315-$1,579sqm in 2009 but rocketed up by more than 40% with¬in the first 5 months of 2010. Land in Quoc Oai district ranged from $526-$631sqm by the end of last year, but currently sold at $1,315-$1,579sqm. The land price in the east¬ern areas is rapidly increasing as Gia Lam district land is offered from $1,579-$2,105sqm, while it was only around $1,315sqm by the end of 2009. VIR

270710-The future Ha Noi would include the city centre; 5 satellite cities and 3 ecological cities. VNN

020810-Hanoi's population figure of 7 million is a close second behind HCMC's 8 million, but Hanoi can only handle 3 million people comfortably while construction of new houses to fill that gap is lagging. Compared to HCMC current accommodation supply in Hanoi accounts for 1/3rd. There is some 1.6bn sqm of housing space nationwide, in which half the total number of families lived in 60sqm apartments, the rest in small houses with under 15sqm per person. Some 2.5% of the country's population live in housing with under 5sqm per person. Compared with 2009's last quarter, this year's property prices in Hanoi reached sky ¬high with land and housing prices up by 15-20%. At some locations, prices increased 30-40% compared to the last quarter of last year. Outstanding loans for property in Hanoi accounted for 16% of property loans nationally while HCMC accounted for 50% of the total. SGT

221110-Land prices in neighboring areas of Hanoi City have increased by 10% to 20% since October. SGT

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