Consortium plans $12.8 bln boulevard-landscape project in Hanoi

A consortium including Vietnam’s transport infrastructure giant Deo Ca Group has proposed developing the VND338 trillion ($12.81 billion) Red River boulevard and landscape, which could become Hanoi’s largest-ever infrastructure project.

The proposed project will cover 11,000 hectares, of which about 7,800 ha will be allocated to the boulevard development. The development spans 16 wards and communes on both sides of the Red River, according to a report submitted by Hanoi authorities to the central government.

The consortium includes Deo Ca, Van Phu Investment, MIK Group, and Dai Quang Minh.

The consortium envisions dividing the riverside corridor into three zones: an ecological green belt with sports facilities and mixed residential areas; a multifunctional urban district hosting cultural, commercial and entertainment spaces; and a commercial-service hub incorporating logistics, eco-agriculture parks, industrial clusters, tourism sites, and new housing.

The proposed investment will be executed via a public-private partnership under a build-transfer (BT) contract, covering land clearance, construction of the scenic boulevard, and two monorail lines running along both Red River banks.

The plan also envisions 92 kilometers of dual roadways along the Red River’s banks, largely outside residential areas, along with two 85-km monorail lines designed under the transit-oriented development (TOD) model.

The project would also include eight open ecological parks and 12 themed parks totaling more than 3,297 hectares, including several landmark public structures for the capital.

Hanoi aims to break ground on December 19 and complete the project by 2030. Officials say accelerating work from 2026 will help secure land, infrastructure and development space for the 2026-2030 period, creating a new growth axis linking central Hanoi with wards and communes to the north and south of the river.

The Red River boulevard is expected to ease congestion by connecting with major bridges including Tu Lien, Tran Hung Dao and Ngoc Hoi, while strengthening links between Hanoi and surrounding provinces such as Bac Ninh, Hung Yen, and Thai Nguyen.