Urban Development Joint Stock Company of Tu Liem (Lideco, HOSE: NTL) has recently submitted documents to the State Securities Commission of Vietnam, the Vietnam Stock Exchange, and the Ho Chi Minh City Stock Exchange regarding the approval of a project in which the company is the investor.
The company’s Board of Directors has approved the investment in a high-rise apartment building project on a land lot coded NO-11 within the Dich Vong New Urban Area in Cau Giay District, Hanoi. The project will be constructed on a land area of 4,641 square meters, with a construction density of 30.9%. The main structure will be a 114-meter-tall tower comprising 32 floors above ground and two basement levels, offering a total of 9,282 square meters of basement space for parking and technical areas.
In terms of scale, the project will provide 364 apartments with a total residential floor area of 35,698 square meters, catering to approximately 728 residents. Additionally, 8,604 square meters of floor area will be allocated for commercial, service, and office convenience, directly serving the residents of the building and the surrounding area.
A notable aspect of the planning is the significant allocation of space for amenities and landscaping. Specifically, the area designated for greenery and gardens amounts to 960 square meters, accounting for 20.7%. Furthermore, 293 square meters are dedicated to community living spaces.
The project falls under Group A, Grade I civil construction, with a minimum lifespan of 50 years. In terms of progress, the project aims for completion in the first quarter of 2029. The funding sources comprise the investor’s equity and other legally mobilized capital.
Dich Vong New Urban Area
Previously, at the 2025 Annual General Meeting of Shareholders, Lideco expected to commence construction on the project by the end of 2025. The Hanoi People’s Committee had assigned Lideco as the investor of this project since 1997. The first approval in 2003 entailed a total investment of VND 794.83 billion, with an expected completion date in 2007.
In August 2018, the total investment was adjusted to VND 4,919 billion, and the deadline was extended to the fourth quarter of 2022. Subsequently, Lideco proposed to increase the investment to VND 5,124 billion and postpone the completion to the fourth quarter of 2026.
On May 30, 2025, the Hanoi People’s Committee approved this adjustment and extended the completion deadline to the first quarter of 2029. According to Lideco’s Q2 2025 financial statements, its pre-tax profit plummeted from VND 844 billion to VND 12 billion. The sharp decline in revenue was mainly attributed to the absence of projects eligible for business operations and the frequent changes in legal regulations, hindering the company’s ability to execute commercial projects.
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