The Sky’s the Limit: Construction of Vietnam’s New 108-Story Financial Tower to Begin in Just 2 Days, Soaring Nearly 200 Meters Above Landmark 81 and Surpassing Bitexco by Over 370 Meters.

Hanoi’s Mega City Project: Unveiling a Visionary Urban Development

Hanoi is expediting the progress of key projects and investments to boost public investment disbursement and foster socio-economic development.

To commemorate the 80th anniversary of the August Revolution and National Day on September 2nd, Hanoi will organize the groundbreaking and inauguration of nine significant projects, including the North Hanoi Smart City project, through a virtual ceremony connecting various locations (scheduled for August 19th).

Among the large-scale projects set to break ground on August 19th is the highly anticipated North Hanoi Smart City.

The North Hanoi Smart City project has witnessed significant developments over time. On July 22nd, Prime Minister Pham Minh Chinh met with Mr. Yukihito Honda, CEO of the Urban Development Division of Sumitomo Corporation (Japan).

During the meeting, Mr. Honda briefed the Prime Minister on Sumitomo’s activities in Vietnam, including updates on the North Hanoi Smart City project. He expressed his aspiration to develop the project into a symbol of the Vietnam-Japan relationship.

Regarding this project, the Prime Minister requested that Sumitomo coordinate with its Vietnamese partners to implement the project diligently, swiftly, and in compliance with legal regulations. He emphasized the importance of equality, harmonious interests, risk sharing, and the fusion of Vietnamese and Japanese cultures.

Additionally, in the first half of 2025, the project’s investor, North Hanoi Smart City JSC, made a land use fee payment of nearly VND 10,000 billion for the North Hanoi Smart City project.

Initiated in October 2019, the North Hanoi Smart City project has faced certain challenges and obstacles, hindering its progress. However, with the Prime Minister’s recent push for expedited implementation and the investor’s significant land use fee payment, the project is now poised for accelerated development.

The North Hanoi Smart City project boasts a total investment of USD 4.2 billion, making it one of the largest real estate investments in Hanoi.

Spanning over 270 hectares at the foot of the Nhat Tan Bridge (in the former communes of Hai Boi, Vinh Ngoc, and Kim No, Dong Anh district), the project is a joint venture between BRG Group (Vietnam) and Sumitomo Corporation (Japan), known as North Hanoi Smart City JSC.

The project is divided into five phases and is expected to be completed by the fourth quarter of 2032. According to the investor, the project will feature a next-generation CityOS ecosystem with six smart solutions encompassing energy, mobility, management, lifestyle, health and learning, and economy.

In February 2025, at a meeting between the Government and businesses, entrepreneur Nguyen Thi Nga, Chairman of BRG Group, pledged to develop North Hanoi Smart City into a city with advanced smart features.

Chairman Nga emphasized that North Hanoi Smart City will be the world’s first carbon-neutral city. She shared her trip to Indonesia in August 2024 to sign a commitment at the EZVIZ Global Conference. “This commitment exemplifies a truly carbon-neutral city, and we may import trees from abroad to address environmental pollution. Moreover, we will introduce solutions to reduce energy costs for households by 50%,” said Chairman Nga.

Vietnam’s Tallest Financial Tower to Rise in Hanoi

A prominent feature of the North Hanoi Smart City project is the 108-story financial tower, accompanied by dozens of mixed-use office and residential buildings, as well as hundreds of villas and townhouses. The financial tower stands as the focal point of the development.

In May 2024, the organizing committee of the architectural competition for the 108-story financial tower selected the design by Skidmore, Owings & Merrill (USA) as the winning proposal.

Dr. Architect Phan Dang Son, President of the Vietnam Association of Architects and Chairman of the Competition Jury, stated that the design by Skidmore, Owings & Merrill demonstrated creativity and uniqueness, fulfilling the vision for a modern, integrated, and smart urban development that employs cutting-edge technology.

Soaring to a height of 639 meters, the tower is set to become Vietnam’s tallest building, surpassing the Landmark 81 tower (461 meters) by nearly 200 meters and the Bitexco Financial Tower (262 meters) by over 370 meters. It will also rank among the tallest buildings in Southeast Asia.

Spanning an area of 133,000 square meters (with a building density of nearly 23%), the tower is expected to accommodate a population of over 25,700 people. The design seamlessly blends modern and traditional architectural elements, offering a 360-degree panoramic view of the surroundings and optimizing solar energy utilization.

The proposed design emphasizes the use of materials and colors to create distinct spaces representing water, garden, wind, and moon, complemented by hanging gardens that add vibrancy to the living environment.

A distinctive feature of the tower is the lunarium, a moon-themed room at the observation lobby, which showcases a spherical model simulating the moon’s phases throughout the day.

In conclusion, as described on BRG’s website, the North Hanoi Smart City is envisioned as a catalyst for socio-economic development and a hub for trade and commerce between Vietnam and the world.

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