According to the Hanoi Department of Construction, the planning project for the Hong River scenic boulevard axis is expected to be submitted for feedback from ministries and sectors in November, before being presented to the Prime Minister for consideration.
On October 24, the Hanoi People’s Committee established a task force to oversee planning, architecture, and research for the Hong River scenic boulevard project.
The task force is responsible for reviewing and assessing the current status, developing the plan, proposing investment policies and component projects, resolving land-related issues, and preparing reports for the City Party Committee, People’s Committee, and the Government.
Mr. Phan Truong Thanh, Head of the Finance and Investment Department at the Hanoi Department of Construction, stated that the Hong River scenic boulevard is one of the five strategic axes outlined in the Capital’s master plan.
The project covers approximately 11,000 hectares, spanning 40 kilometers along the Hong River, passing through 16 wards and communes within the Ring Road 4 area. It will impact 40,000 residents and is estimated to require over 400 trillion VND in investment.
Project rendering.
The basic planning framework, covering over 3,000 hectares, includes approximately 8 landscape parks and 12 thematic parks, which have been finalized by Hanoi authorities.
As directed by the Hanoi People’s Committee, the project will be divided into three components. Component 1 focuses on land clearance, Component 2 involves the Hong River scenic boulevard, and Component 3 includes the construction of two monorail lines running along both riverbanks, each approximately 40 kilometers long.
Additionally, the project will explore the construction of bridges or tunnels across the river, depending on the planning location. The Hanoi People’s Committee aims to commence the project in early 2026 and complete it before 2030.
In June, the consortium of Deo Ca Group and Van Phu Invest was approved by the Hanoi People’s Committee to research and propose the project under a public-private partnership (PPP) model, using a Build-Transfer (BT) contract. After two months of research and incorporating feedback, the consortium submitted a preliminary report to the Hanoi People’s Committee in August.
On August 19, MIK Group Vietnam submitted a proposal to participate in developing the Hong River boulevard and landscape project, leveraging its strengths to contribute to the project’s success.
MIK Group pledged to collaborate closely with consortium partners, mobilizing its financial resources, workforce, and expertise to ensure the project’s completion.
On the same day, VPBank proposed to act as the credit arranger for the Hong River scenic boulevard project.
With the involvement of 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 anticipated to commence soon, creating a “Hong River miracle” for the nation.
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