The portfolio of commercial residential and urban area construction investment projects includes 36 projects that have been approved for investment, with 10 projects currently under development and expected to be completed in the 2021-2025 period, providing over 1,000 units. There are also 26 projects planned for completion after 2025, offering more than 9,800 units. In addition, there are 85 projects in the pipeline with a total of nearly 49,000 units.
A significant number of projects within this group have already received approval for investment, with most investors proposing a completion timeline of 2026.
One of the most notable projects is the new Phu Luong urban area, spanning over 30.8 hectares in Phu La, Phu Luong, and Kien Hung wards in Ha Dong district. This project, developed by a joint venture between Trung Viet Investment and Construction JSC and Hong Quang Construction JSC, offers 475 units with a total investment of VND 4,831 billion. It is currently undergoing procedures for investment adjustment and is proposed to be completed by 2026.
Incomplete villas and adjacent houses at Phu Luong New Urban Area
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Another project is the construction of a residential area at 486 Ngoc Hoi, Van Dien town, Thanh Tri district, with a total area of nearly 3.6 hectares and providing about 830 units. The project is developed by UPCoM-listed TBH Joint Stock Company with a total investment of nearly VND 2,000 billion. The site clearance has been completed, and the investor has proposed a new completion timeline of 2026.
There is also a project for a complex of commercial centers, offices, and high-end apartments at 210 Quang Trung, Quang Trung ward, Ha Dong district. This project covers an area of 7,644 square meters and provides about 200 apartments, with a total investment of VND 895 billion. It is also proposed to be completed by 2026.
Source: Ha Noi People’s Committee
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Additionally, there are several large-scale projects in the group of projects undergoing investment preparation procedures. One of the most notable projects is the construction of a new urban area along the Duong River in Phu Dong, Dinh Xuyen, Duong Ha, and Ninh Hiep communes, Gia Lam district. This project covers an area of nearly 226.8 hectares and offers more than 2,300 units, with a total expected investment of over VND 25,700 billion. The maximum population by 2030 is estimated at 8,296 people. The project is currently in the investment proposal and investor selection process, with a proposed completion timeline of 2032.
Another significant project is the Nam Dai Lo Thang Long urban functional area in Me Tri, Trung Van, and Phu Do wards in Nam Tu Liem district, with an area of over 75 hectares and providing about 2,200 units. The total expected investment is VND 21,500 billion for a population of about 10,000 people. The project is proposed by Vietnam Exhibition Fair Center JSC, with a completion timeline from Q1/2024 to Q4/2031. It is currently in the process of obtaining investment approval.
Another project worth mentioning is the new Son Dong – X1 urban area in the F-3 and F-4 planning sub-areas of the S2 urban area, in Son Dong and Lai Yen communes, Hoai Duc district. This project covers an area of over 42.3 hectares and offers approximately 1,854 units, with a total expected investment of over VND 15,000 billion. The project is currently in the process of obtaining investment approval and investor selection through bidding. The proposed completion timeline is 2032.
Source: Ha Noi People’s Committee
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Thanh Tú
The Abandoned Landscape: Hanoi’s Tax-Debt Urban Area Awaits its Fate
The Phu Luong New Urban Area in Ha Dong District, Hanoi, is facing financial troubles with its investor consortium, represented by Trung Viet Construction Investment Joint Stock Company, owing significant taxes. This has left the project in disarray, with a mix of abandoned, half-built villas and townhouses alongside completed “castles,” creating an eyesore of a project.
