The Hoan Kiem District People’s Committee has submitted a proposal to the Hanoi Department of Finance regarding the assignment of preparing a report on investment policy proposal for the expansion project of Dong Kinh – Nghia Thuoc Square.
Accordingly, the total area of the planning and renovation study scope of Dong Kinh – Nghia Thuoc Square is approximately 1.2 hectares. The north side borders Hang Gai and Cau Go streets, the south side borders Hoan Kiem Lake and the Water Pavilion, the east side borders Ho Hoan Kiem street, and the west side borders Hong Van – Long Van building.
According to the H1-1B urban subdivision planning at a ratio of 1/2000 approved by the Hanoi People’s Committee in 2021, the land plot with the “Shark Jaw” building is designated for public use.
Hoan Kiem District authorities shared that after the demolition of the “Shark Jaw” building, the site is expected to retain its public function. It is planned to arrange access to the underground floor and the square’s spectator steps here.
“Shark Jaw” Building
The Hoan Kiem District People’s Committee also proposed that the Hanoi Department of Finance report to the Hanoi People’s Committee to assign the Hoan Kiem District People’s Committee to prepare a report on the investment policy proposal for the expansion project of Dong Kinh – Nghia Thuoc Square.
Accordingly, the competent authority will demolish the “Shark Jaw” building, relocate underground works (if any), and restore the infrastructure to match and synchronize with the landscape of the area.
The total investment capital for the project is expected to be VND 18 billion from the city budget. Hanoi plans to assign the Hoan Kiem District People’s Committee as the investor of the project.
Dong Kinh – Nghia Thuoc Square is currently used for transportation purposes, and the Commercial – Service – Catering Center of Ho Guom Lake (the “Shark Jaw” building) with an area of about 390 square meters and a floor area of about 1,600 square meters is managed and operated by the Hanoi Transport Corporation (Transerco).
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