The Billionaire’s Basement: An Underground Parking Lot Fit for a King, or 199 Commercial Units

Vinhomes The Gallery Giảng Võ (Vinhomes Giảng Võ) has recently entered the market, astonishing many with its exceptional amenities. The project comprises 199 low-rise commercial units, each with its own unique basement access. This is the only low-rise project in Vietnam to offer such an extensive basement area.

The basement system at Vinhomes The Gallery Giảng Võ is a key feature, comprising
four interconnected levels
with a
total area of 70,941.36 square meters
. This is equivalent to 2.5 FIFA-standard football fields and is located in the heart of Ba Dinh District, Hanoi. This basement provides optimal parking solutions for the 199 low-rise commercial units within the project.

The Vinhomes Giảng Võ basement is equipped with
1,540 parking slots
, including
296 dedicated slots
for the low-rise commercial units and
1,244 slots for visitors and partners
. This not only meets the parking demands of the area but also facilitates business operations, enhancing the commercial value of the low-rise units.

Unlike many mixed-use projects that include apartment towers, Vinhomes Giảng Võ solely focuses on low-rise development, offering a prestigious business environment in the heart of Ba Dinh District. The interconnected basement system is a pivotal feature, addressing the critical lack of parking spaces in the inner city.

When compared to other parking facilities in Hanoi and across Vietnam, the Vinhomes Giảng Võ basement stands out for its scale and modernity. In Hanoi, large-scale projects such as Vinhomes Royal City, with a basement area of approximately 65,000 square meters and over 1,200 parking slots, are impressive but still fall short of the size and capacity of Vinhomes Giảng Võ’s four basement levels.

In comparison to other large-scale urban developments in Hanoi, such as Gamuda Gardens, The Manor Central Park, and Ecopark, Vinhomes The Gallery Giảng Võ surpasses them in terms of the number of basement levels (four versus two to three) and their functionality within the urban context. While these projects are located in suburban areas, Vinhomes The Gallery Giảng Võ maximizes its prime location in Ba Dinh by creating an extensive network of interconnected basements, providing a convenient shopping experience and addressing the parking shortage in the city center.

With its superior scale and functionality, the Vinhomes The Gallery Giảng Võ basement not only addresses the parking shortage in the inner city but also elevates the project’s value. It transforms the area into a prestigious low-rise commercial district, meeting the business needs and expectations of customers in Hanoi.

According to statistics, Hanoi has approximately 8 million vehicles, including nearly 1.5 million cars, and this number continues to grow daily. However, the current parking infrastructure in Hanoi only meets 8-10% of the total vehicle demand.

As stated by Mr. Nguyen Phi Thuong, Director of the Hanoi Department of Transport, the city’s static traffic plan includes 1,620 parking lots, of which only 72 are currently in operation. The development of the remaining lots is faced with numerous challenges and obstacles.

Mr. Thuong further highlighted that the planned allocation for static traffic is 3-4%, but Hanoi has not yet reached 1%. Additionally, the ratio of land area for transportation within the urban built-up area in Hanoi is only 12.13%, which is just half of the government’s decision on the transport planning for Hanoi (with a target of 20-26% for the central urban area)…

Consequently, there is a severe shortage of parking spaces, leading to parking on vacant lots, roadsides, and even sidewalks. Along with the review of the 1,620 parking lots, the construction process also encounters difficulties due to land-use issues, as some of the designated parking lot areas are residential, office, or otherwise challenging to acquire.