The Hanoi People’s Committee has officially established a Task Force to oversee the planning, architecture, and investment research for the Hong River Scenic Boulevard project. Vice Chairman of the Hanoi People’s Committee, Duong Duc Tuan, has been appointed as the Task Force Leader. The team comprises leaders from various departments and agencies.
The Chairman of the Hanoi People’s Committee has tasked the leader with directing the assessment of the current situation, developing the planning framework, and proposing investment policies. This includes drafting a comprehensive investment plan with distinct sub-projects.
Additionally, the leader is responsible for addressing challenges related to planning, investment, land acquisition, and resettlement during project implementation.
In June, the consortium of Deo Ca Group and Van Phu Invest received approval from the Hanoi People’s Committee to research and propose the Hong River Scenic Boulevard project under a Public-Private Partnership (PPP) model, specifically a Build-Transfer (BT) contract. After two months of research and incorporating feedback, the consortium submitted a preliminary report to the committee in August.
Project rendering.
The project, with an estimated investment of VND 300 trillion, includes an 80km boulevard along the Hong River banks from Hong Ha Bridge to Me So Bridge. It features 67km of elevated roads, 10km of underpasses with six lanes, and an 84km monorail system (82km elevated, 2km underground).
Additionally, the project allocates 3,300 hectares for green spaces, eight public parks, and community areas, transforming the riverside into a unique tourism and service hub.
The consortium proposes adjusting the Hong River urban area zoning plan, dividing the project into three independent components: a public land clearance project led by the Hanoi People’s Committee, a PPP (BT contract) for the boulevard and riverside landscape, and a PPP (BT contract) for the monorail. The consortium aims to commence construction in January 2026.
Major Players Join the Project
On August 19, MIK Group submitted a proposal to join the project, leveraging its expertise to contribute to its success. MIK Group pledged to collaborate closely with partners, committing financial resources, manpower, and experience to ensure project completion.
On the same day, VPBank offered to coordinate credit financing for the project, further solidifying its financial foundation.
With experienced infrastructure developers like Deo Ca Group, leading real estate firms such as Van Phu and MIK Group, and financial support from VPBank, the Hong River Scenic Boulevard project is poised to become a landmark achievement, heralding a “Hong River miracle” for Vietnam.
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