Eco Park - New Choice of Hanoi Real Estate Market

As planned, the first phase of the project will sell land for 160 street houses occupying 120 square metres each and 250 villas of three different types covering 162 square metres, 324 square metres and over 500 square metres each. The project’s investor, however, has not yet announced the selling prices at present but some sources said that the land may be priced at between VND7 million and VND10 million per square metre.

 

Viet Hung Urban Investment and Development Joint Stock Co (Vihajco), the project’s investor, said that the 500-hectare project costs a total of US$8.2 billion. The area will be built in Van Giang commune of Hung Yen, which is 12.8 kilometres far from the Hanoi city centre.

 

The detailed programming with the proportion of 1/500 indicates that 33.85 percent of land in the Ecopark will be used for housing, 22.28 percent for trade centres, 21.86 percent for green park and water surface, 17.13 percent for traffic systems, and 4.88 percent for administrative offices. The area will be divided into 11 sub areas including trade centre, northern gateway, southern gateway, ancient town, creative park, urban residential area, community area, backyard of buildings, golf course, lakeside villas and urban gateway’s community area.

 

Savills Vietnam Company on June 30 clinched contracts with the investor to act as the sole marketing unit for the first residential area occupying 169 hectares, accounting for 34 percent of the total acreage of the area. In addition to Ecopark, the area is home to the Thach Ban New City covering over 30 hectares in Long Bien district in Hanoi. The project that will provide a trade centre, residential area and entertainment area costs a total of US$3.5 billion by the joint venture between Berjaya Group of Malaysia and Handico 12.