Hanoi approves US$3.8 billion Bac Thang Long urban project

Under Decision No. 6009/QĐ-UBND signed on October 30, the Bac Thang Long Urban City project will cover about 465.45ha in Thien Loc and Phuc Thinh communes.

The development is expected to accommodate around 97,500 residents and include more than 5.5 million sq.m of residential floor space, alongside technical and social infrastructure, public facilities and commercial services.

Social housing will account for 21.83% of total residential floor space, resettlement and official housing 40.17%, and commercial homes 38%.

The project will allocate about 43ha for resettlement townhouses, 15.06ha for social housing and 4.33ha for apartment buildings serving resettlement and official residence needs.

The project will be developed by a consortium of five investors, including Hanoi Housing Investment and Development Corporation, Sunshine Group, Big Gain Investment Company, Thai Nam Land and Potamos Real Estate.

The project is expected to include a cultural park, public squares, green spaces and water features, while expanding the city's urban area under a transit-oriented development (TOD) model.

The municipal authorities has asked the investors to ensure sufficient funding for compensation, support and resettlement, while prioritising infrastructure in resettlement areas and the coordinated development of schools, markets, healthcare and cultural facilities.

The city also asked efforts to accelerate administrative procedures related to land, investment, construction, the environment and site clearance to keep the project on schedule. 

Hanoi launches 18 key projects worth nearly US$4.94 billion

Hanoi inaugurated projects, opened a road section to technical traffic and broke ground on major works on October 9 to mark the 72nd anniversary of Capital Liberation Day (October 10, 1954-2026).