According to the adjusted master plan for Hanoi Capital until 2045, with a vision to 2065, approved by the Prime Minister, the Red River is designated as the primary landscape axis. It serves as both a central green space and a hub for creative culture, socioeconomic development, and a symbol of the capital.
A Mega Project with a Total Investment of 338 Trillion VND
Hanoi is preparing to enter a new planning cycle after the City People’s Committee reported to the Government on the implementation of the investment project to construct the Red River Landscape Avenue. The project will focus on accelerating investment and development on both sides of the Red River within the Ring Road 4 (from Hong Ha Bridge to Me So Bridge), covering an area of 11,000 hectares, spanning 16 wards and communes, and impacting the lives of approximately 40,000 residents.
To formulate a preliminary proposal for the Hanoi People’s Committee, a consortium of corporations conducted field surveys in several countries, with particular attention to Chongqing (China) to study the infrastructure system along the Yangtze and Jialing Rivers. They also referenced successful riverfront urban development models like the “Miracle of the Han River” in Seoul (South Korea).
The basic planning design has been finalized, featuring an 80 km-long avenue, including 67 km of modern elevated roads and 10 km of underpasses with 6 lanes. Additionally, there will be an 84 km-long monorail system, comprising 82 km of elevated tracks and 2 km of tunnels. The project also includes 3,297 hectares of land dedicated to developing a chain of 8 open parks, ecological parks, 12 themed parks, and other public spaces.
The “Miracle of the Red River” is expected to significantly contribute to Hanoi achieving four major goals: alleviating traffic congestion, reducing environmental pollution, urban beautification, and addressing inner-city flooding. Notably, upon completion, the avenue will connect all bridges across the Red River, creating a new connectivity axis for the capital and providing an “expansion point” to the east for Hanoi’s center.
A New Livable Hub for the Capital
Given its adjacent location, Long Bien is poised to be the most direct and significant beneficiary of the Red River Landscape Avenue project. Previously, Long Bien was somewhat isolated from the city center due to the Red River barrier. However, this connectivity issue has been entirely resolved with the construction and upcoming completion of several new bridges in the near future.
A prime example is the Tran Hung Dao Bridge, with a total investment of 15.967 trillion VND. This is one of Hanoi’s key infrastructure projects, aimed at reducing traffic density on Long Bien, Chuong Duong, and Vinh Tuy Bridges, while fostering economic development in the eastern region.
The Tran Hung Dao Bridge expands Hanoi’s center towards the east. Photo: Hanoi People’s Committee.
The project begins at the intersection of Tran Hung Dao and Tran Thanh Tong (former Hoan Kiem District) and ends at Vu Duc Thuan Street (former Long Bien District). The entire route spans approximately 5.6 km, designed with 6 lanes for motor vehicles, 2 lanes for bicycles, and 2 pedestrian lanes, with a speed limit of 80 km/h.
The Tran Hung Dao Bridge not only accelerates the urbanization of the area but also signals a new growth cycle for the eastern Hanoi real estate market.
While property values in the former Hoan Kiem District have peaked, Long Bien still holds significant growth potential due to multiple converging factors. The area’s advantages include a vast land reserve, particularly the last remaining riverside land in the capital, combined with an increasingly developed transportation infrastructure and a strategically important location under robust investment. This is considered the only area with sufficient development scope to establish a new-generation financial, cultural, and commercial center for the capital over the next 10-20 years.
According to Batdongsan.com.vn, residential land prices in Long Bien Ward are currently trading at around 214 million VND/m², a 38% increase over the past year. High-end apartment and condominium projects have also seen a strong 30-40% rise over the same period.
The market trend invariably follows the principle: “Where infrastructure develops, real estate value follows.” With its riverside landscape advantages, a complete urban ecosystem, and a series of infrastructure projects being vigorously promoted, Long Bien is poised to become Hanoi’s “new hub” in the coming decade. This provides a solid foundation for real estate projects in the area to not only meet housing and investment demands but also offer the potential for breakthrough value growth, setting a new standard of living for modern residents.
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