The Hanoi People’s Committee has officially allocated land in the central area of the Tay Ho Tay Urban Area, Xuan Dinh Ward, to JVH31 Vina Co., Ltd. Spanning nearly 1.5 hectares, the designated plot H1HH1 is earmarked for the development of public service facilities, commercial spaces, offices, and luxury residential properties. The land will be leased with a usage fee until August 20, 2062, while homebuyers will enjoy perpetual ownership rights to their properties.
JVH31 Vina Co., Ltd. is mandated to commence land utilization within 12 months, with a maximum extension of 24 months for any delays. The Department of Agriculture and Environment will oversee boundary demarcation and on-site land handover to the investor.
A glimpse of the Tay Ho Tay Urban Area (Photo: Thuy Ha).
Established in June this year, JVH31 Vina Co., Ltd. boasts a chartered capital of nearly USD 30 million, specializing in real estate investment and development. Mr. Lee Seokwoo (born in 1979, Canadian nationality) serves as the company’s legal representative and CEO.
The Tay Ho Tay Urban Area (Starlake Tay Ho Tay) spans over 186 hectares and was officially launched in 2014 by T.H.T Development Co., Ltd., a subsidiary of Daewoo E&C Group, with a total investment of over USD 1.3 billion.
According to last year’s adjusted land price chart, Tay Ho Tay remains Hanoi’s most expensive urban area, with land prices exceeding VND 113 million per square meter. Market surveys indicate that townhouses and villas in the Starlake project are listed between VND 400 million and over VND 800 million per square meter.
A semi-detached villa in the project, covering 240 square meters and situated at a corner lot, is currently priced at VND 204 billion, or approximately VND 850 million per square meter. A townhouse with an area of 112 square meters is also on the market for VND 50 billion, equivalent to over VND 446 million per square meter.
Apartments within the project are priced between VND 100 million and VND 150 million per square meter, with select units surpassing VND 200 million per square meter.
Northern Investment Capital Flows Shift Significantly Southward as Year-End Approaches
According to Ms. Duong Thuy Dung, Executive Director of CBRE Vietnam, the expanded areas surrounding Ho Chi Minh City, such as former Binh Duong and Long An, are witnessing a robust supply of properties. Here, the average primary prices are approximately 30% for low-rise housing and 50% for condominiums compared to the older districts of HCMC.
Hanoi: Land Allocation for a Series of Housing Projects
The Hanoi People’s Committee has officially issued a land allocation decision for areas in Thuong Cat Ward, Phu Thuong Ward, and Son Dong Commune. This move paves the way for developers to initiate residential projects across these designated locations.
Why Bầu Đức Returned to Real Estate: The Forgotten 15-Year-Old Land HAGL Left Behind Due to “Excess Wealth” Could Now Be Sold to Pay Off Debts
Bầu Đức revealed that the land designated for the project has been owned by HAGL for over 15 years, dating back to the company’s heyday. “Back then, I was like a wealthy kid, so I didn’t even think about it. If I had, I might have sold it to pay off debts by now,” he remarked.
Affordable Luxury: Hanoi’s New Residential Projects Priced Between 18-30 Million VND/m²
The Hanoi real estate market has recently witnessed a resurgence in activity within the affordable housing segment, as numerous new projects have been launched, offering prices ranging from VND 18.4 to 29.4 million per square meter.
Foreign Enterprise Secures Prime 1.5-Hectare Plot in Tay Ho Tay After Just Four Months in Operation
A newly established Singapore-based company, founded in mid-June, has been allocated nearly 1.5 hectares of land in the Tay Ho Tay urban area to develop high-end residential properties.
