The capital’s growing pains are well documented
Along the Lang Hoa Lac expressway, Korean giant Posco is cooperating with Vinaconex to build a $2 billion project to provide 7,600 apartments and houses for the market. Nearby Sudico is preparing for construction of the 180-hectareNam An Khanh Urban Area, which will provide 1,600 villas and 200 apartments.
Towards Ha Dong city, the Korea’s Booyoung outfit has started a $220 million residential complex which will provide around 5,000 apartments. The company has recently announced it will add another $110 million to the project.
Right next to Booyoung’s project is Poland’s TSQ International Holdings’ $59 million development covering 78,000 square metres which will provide 257 villas and 262 semi-attached houses.
Nguyen Xuan Cuong, chairman of the Ha Tay People’s Committee, said the province was aware its location meant it was in pole position to tap into the capital’s hunger for land.
Ha Tay is just 15-minute drive from Hanoi’s downtown and the two localities will be linked by a metro and railway system.
Many other companies are also eyeing Ha Tay such as Contrexim, Nacimex and Housing and Urban Development Corporation.
PetroVietnam is building the Suoi Hai eco-tourism area and PetroVietnam Urban and Technology Area in the province.
Hoa Binh, 70km from Hanoi, has become another hot destination after a South Korean consortium proposed a $150 million project to lengthen the Lang-Hoa Lac expressway, toward the province.
Nguyen Van Phuc, head of the Hoa Binh Planning and Investment Department’s Promotion Centre, said the expressway investors were permitted to build a new residential area in the province.
The area will occupy 1,400 hectares Luong Son district’s Tien Xuan and Yen Binh communes.
Phuc said the site would include a 36-hole golf course, high rise apartment buildings, villas, amusement park, hotels, resorts, school, hospital and trading centre.
The investor will also set land aside for developing of Muong ethnic culture and eco-tourism area.
Bich Ngoc (vir.com.vn)