What’s So Special About This Prime Real Estate in the Heart of Hanoi That Has Billionaire Pham Nhat Vuong’s Company Buzzing?

148 Giang Vo Land Plot (Vinhomes The Gallery)

In January 2025, the Hanoi People’s Committee issued a decision to allow Vietnam Exhibition Fair Center JSC (a Vingroup subsidiary) to adjust the land user, extend the land use duration, and change the purpose of land use for over 6.8 hectares at 148 Giang Vo, Ba Dinh District, to implement a mixed-use commercial, service, and cultural center project.

Of the total 6.8 hectares, 4 hectares are planned as a mixed-use area, including a commercial and service center and office space for lease. According to the adjusted decision issued by Hanoi in July 2024, the 148 Giang Vo project is permitted to construct a complex with a maximum height of 40 floors.

Strategically located on two frontages of Giang Vo and Ngoc Khanh streets, the project is also adjacent to several vital routes, including De La Thanh, Kim Ma, and Nguyen Chi Thanh streets, and is close to the starting point of the Cat Linh-Ha Dong metro line.

One of the standout features of Vinhomes The Gallery is its proximity to Hoan Kiem Lake, the Old Quarter, and Trang Tien Street. The project is also surrounded by several universities, including the Hanoi University of Culture, the Hanoi Industrial Fine Arts University, and the Hanoi Law University.

In terms of progress, the project has commenced construction.

233-235 Nguyen Trai

The Hanoi People’s Committee has recently issued a decision to adjust and supplement the 2025 land use plan for Thanh Xuan District.

Accordingly, the Committee has added a project with an area of 11 hectares to the list of works and projects to be implemented in the 2025 land use plan for Thanh Xuan District. This is an urban functional area at 233, 233B, and 235 Nguyen Trai Street, to be implemented by Xavinco Real Estate Joint Stock Company and a consortium.

According to the decision approved by the Hanoi People’s Committee in 2016, the urban functional area project at 233, 233B, and 235 Nguyen Trai Street is to be implemented by a consortium of investors, including Xavinco Real Estate Joint Stock Company, Thang Long Real Estate Trading Investment Joint Stock Company, and Xalivico Limited Company.

With an area of approximately 11 hectares, the project is expected to comprise buildings of 43 to 46 floors with a construction density of about 35%.

The 233-235 Nguyen Trai land plot used to be a well-known “industrial complex” called “Cao Xa La,” named after the three large factories located there: the Sao Vang Rubber Factory, the Ha Noi Soap Factory, and the Thang Long Tobacco Factory.

This “golden land” plot enjoys a prime location, with a frontage of hundreds of meters along Nguyen Trai Street, a vital transport route with over ten lanes. In addition to being adjacent to the Cat Linh-Ha Dong metro stations, the plot also benefits from its proximity to the vibrant districts of Ha Dong, Dong Da, Hoang Mai, and Cau Giay.

The site is also close to three important belt roads of the capital: Belt Road 2 and Belt Road 3, which have been completed, along with Belt Road 2.5, which is currently under construction.

Moreover, the plot is located next to the Vinhomes Royal City urban area, another prominent project by the Vingroup conglomerate. Several prominent universities surround the area, including the Vietnam National University, Hanoi, the Hanoi University of Water Resources, and the Hanoi University of Labour and Social Affairs.

Thang Long Boulevard Land Plot (Vinhomes Me Tri 2)

At the beginning of 2025, Hanoi added the Nam Thang Long Boulevard Urban Area (Vinhomes Me Tri 2) to the list of land revocation projects. This project, with a scale of about 75 hectares, belongs to the wards of My Tri, Trung Van, and Phu Do in Nam Tu Liem District and is invested by Vietnam Exhibition Fair Center JSC (a Vingroup subsidiary).

Similar to the above projects, Vinhomes Me Tri 2 enjoys a favorable location on the front of Thang Long Boulevard and the newly constructed Le Quang Dao Street. The project is also near vital transport routes, including Belt Road 3, Tran Duy Hung Street, and the planned metro line No. 5 from Van Cao to Hoa Lac.

Additionally, Vinhomes Me Tri 2 is just 3 kilometers away from the National Convention Center and is close to two other prominent Vingroup projects: Vinhomes Me Tri 1 and Vinhomes Smart City.