Within this land fund, approximately 36,600 square meters are allocated for low-rise residential development, while over 4,600 square meters are designated for greenery and walkways. This land is provided free of charge, however, the receiving entity is responsible for reimbursing the infrastructure costs to THT Development Company Ltd. – the project’s investor.
Earlier, in the beginning of July, the city also handed over nearly 7 hectares of land in West West Lake to THT Development for the implementation of Phase 2 of the 7th batch, including high-rise residential, educational, commercial, and urban infrastructure items, with a duration until 2062.
The West West Lake urban area project, commercially known as Starlake, commenced construction in 2012 with an investment of approximately $2.5 billion. It spans over 162 hectares across the wards of Xuan La, Nghia Do, Xuan Tao, and Co Nhue 1. The urban area is envisioned to be one of the most modern complexes in the capital, directly connecting to vital transport routes such as Nhat Tan Bridge, Noi Bai T2 Station, and the ring roads 1, 2, and 3.
In the secondary market, numerous low-rise products in Starlake are offered for sale at prices reaching millions of dollars. According to data from batdongsan.com.vn, the average price of villas/townhouses is around VND 500 million per square meter, marking a 174% increase over the past 5 years. With areas ranging from 220 to 320 square meters, each villa is priced at approximately VND 110-160 billion.
The shophouse/commercial townhouse segment also commands high prices, averaging VND 660 million per square meter, equivalent to nearly VND 130 billion for an area of 195 square meters. This price reflects a nearly 90% increase over the last 4 years.
 Source: batdongsan.com.vn
|
The project investor, THT Development Company Ltd., is a 100% foreign-owned enterprise and a subsidiary of Daewoo Engineering & Construction (South Korea). THT Development was established by five major South Korean construction companies, but Daewoo now holds all the shares with a charter capital of VND 4,566 billion.
In addition to direct implementation, THT Development also transfers some land plots to secondary investors. Earlier this year, Hanoi revoked the B1CC4 land plot spanning over 15,000 square meters in Co Nhue 1 and Xuan Tao wards, and subsequently leased it to VIESTA Company Ltd. for project development until 2062. Previously, the land-use rights for this plot belonged to THT Development but were transferred to VIESTA in late 2023.
THT Development continues to subdivide land in the West West Lake urban area for another enterprise
– 10:45 09/04/2025
Unleashing a New Strategic Move: From Suburban Conquest to the Core of Metropolitan Dominance
“After a period of robust restructuring and a focused approach on projects in satellite cities surrounding Ho Chi Minh City, Phat Dat Real Estate Development Corporation (HOSE: PDR) is entering a new phase of growth with an intensified vision: to direct its strategic efforts towards the heart of metropolitan areas and develop iconic projects. This bold yet calculated move by the company underscores its determination to solidify its standing in the gradually flourishing market.”
The 90-Ha Wonder in Vietnam: A Construction Marvel that Attracted 4 Million Visitors
In just six days, this record-breaking Vietnamese attraction witnessed an astonishing 4 million visitors.
The East Lake View Plaza: A Visionary Perspective
The Hanoi Department of Planning and Architecture has unveiled exciting plans for the eastern square of Hoan Kiem Lake, offering a glimpse into the future of this iconic area.
The Capital’s Clean Air Initiative: Restricting Polluting Vehicles
The Hanoi People’s Committee is seeking public feedback on a draft regulation to implement low-emission zones in the city, in accordance with Article 28 of the Capital Law.
Long Chau Pharmacy Arrives at Terminal A80
Amidst the patriotic spirit of the grand festive season, Long Chau Pharmacy makes its presence known at Terminal A80. Our dedicated healthcare services ensure that the community can celebrate with peace of mind, proudly embracing the Vietnamese spirit.
