Hanoi Lures Great Attention of Real Estate Investors

The master development plan for Hoan Kiem, My Dinh-Me Tri and Tay Ho until 2020 has attracted much attention of real estate investors as well as Hanoi inhabitants.

 

Under the plan, Hoan Kiem District area remains the administrative and cultural centre of Hanoi. The West West Lake New Urban Zone will become the financial, banking and international transaction centre. The My Dinh-Me Tri area will become the administrative, cultural, sports, commercial, accommodation and hi-tech centre.

 

Many proposals have been put forth for the reallocation of the administrative centre (Hanoi People’s Committee headquarters, the Party Council headquarters and offices of administration branches) to the west of West Lake and Lang - Hoa Lac or Ngoc Ha Ward (Ba Dinh District). However, cultural researchers and historians, as well Hanoi citizens, say the Hoan Kiem Lake is the integral cultural and historical symbol of Hanoi as well as the whole country. The administrative headquarters of Hanoi, which is located adjacent to Ly Thai To King Statue and looks to Hoan Kiem Lake, symbolises the continuation of the millennial tradition history of Thang Long - Hanoi.

 

With a very dense population, it is not easy to find an unused land space in this area. However, with a favourable location, many companies, restaurants and hotels will continue seeking a place to set up their representative offices here.

 

The West West Lake New Urban Zone covers the area of three districts of Cau Giay, Tay Ho and Tu Liem. The highlight and the hub of the new urban zone is the 25-ha Hanoi Financial Banking Centre (FBC). This is the groundwork for the development of the finance, banking, non-banking and consulting (accounting, auditing, legal) organisations. The centre will need a strong infrastructure and expertise workforce to develop this area until 2010 when the financial and banking level reaches the Asian advanced level.

 

Under the plan, the transport infrastructure of the West West Lake is synchronous and fitting with the existing infrastructure system such as the administrative centre, commercial centre, Noi Bai International Airport and other centres in the city.

 

With the centre being the National Convention Centre, My Dinh Stadium and luxury accommodation blocks, the My Dinh - Me Tri will be the cultural, sports, commercial and accommodation centre. This area will be linked to a series of surrounding urban zones like Trung Hoa - Nhan Chinh, Cau Giay, Tran Duy Hung and Xuan Phuong to form a chain of luxury urban zones and offices for companies.

 

The My Dinh - Me Tri New Urban Zone will be the nearest centre to Lang - Hoa Lac Hi-tech Park. The construction of a Super Bac Song Hong New Urban Zone is on the blueprint.

 

The Bac Song Hong (North Red River) New Urban Zone is estimated to consist of 30 smaller projects with different functions. The super complex, located in Xuan Trach and Xuan Phuong communes in Dong Anh District, will become an international financial, banking and payment centre. However, with a total construction investment capital of over US$30 billion, this project is a story of the future.