Habico Tower is a prestigious project located on Pham Van Dong Street in Hanoi, alongside the elevated Ring Road 3. The project was initiated in 2008 by Habico Joint Stock Company with an investment of approximately 220 million USD and a land area of nearly 4,500 square meters.
The original design of Habico Tower featured two towers, each standing at 180 meters tall, with 4 underground floors and 36 floors above ground. The complex was intended to house commercial, service, hotel, office, and high-end residential spaces.
At the time, the developer made headlines by announcing apartment prices starting from 21 billion VND to 85 billion VND, and claiming that each floor could be completed within just 7 days.
However, in May 2011, construction was halted after an incident during the 9th-floor apartment construction and some financial troubles faced by the investor. The project has been dormant ever since.
As observed by our reporters, the project site remains locked and inaccessible.
The abandoned project has been left vacant for years, with no signs of human presence inside.
Many components of the project have deteriorated, detracting from the urban aesthetic.
To date, Habico Tower remains an abandoned concrete structure, evoking a sense of regret among passersby who witness the wasted potential of this prime real estate in the heart of the capital.
Located along the Ring Road 3, the Apex Tower project in the HH3 land plot of Me Tri Ha Urban Area, Nam Tu Liem District, Hanoi, is a joint venture between Cavico Vietnam Tower Joint Stock Company and the Renovation and Housing Development Corporation, with a total investment of approximately 15 million USD.
Construction began in 2008, with completion planned for 2012. The tower was designed with 27 floors above ground and 3 basement levels. However, after the completion of the main structure and installation of glass windows, the project was left unfinished and abandoned for years.
According to our sources, the tower has not been operational due to design changes made during construction, which led to a temporary halt and the need for additional legal documentation as per regulations.
Across from Apex Tower stands the unfinished headquarters and trading center of Vietnam Cement Industry Corporation (Vicem), a project worth thousands of billions of VND. The project has been reduced to a mere frame for years.
This project led to the recent prosecution of Mr. Le Van Chung, former Chairman, and Mr. Nguyen Ngoc Anh, former General Director of Vicem. During their tenure, multiple violations in this project were identified by the Inspectorate of the Ministry of Finance, the Ministry of Construction, and the State Audit Office of Vietnam.
In March 2025, Vicem resumed construction on the headquarters and trading center project, with expected completion in the second quarter of 2026.
Massive project delays torment residents in Bac Ninh
Driven by a policy of attracting extra-budgetary investment in various sectors to develop the local economy and enhance the urban landscape, the Bac Ninh province has shown great interest. However, to date, many projects have experienced delays in implementation, leading to public outcry.
10+ Year ‘Shelved’ Project Included in Hanoi’s Land Use Plan
Hanoi includes a construction project for a complex of commercial centers, apartments, and offices in Dich Vong Hau Ward, Cau Giay District, invested by the Vietnam Construction and Trading Investment Corporation. The project had been suspended for over ten years and will be included in the 2024 land use plan.
712 Delayed Projects: Numerous Obstacles Remain Unsolved
Before merging territorial administration into Hanoi, many housing and urban projects were approved by the leaders of provinces like Hoa Binh, Ha Tay, and Vinh Phuc. However, up until now, many of these projects remain abandoned or unfinished, causing wastage.
