Construction begins on $32.5 bln Red River Scenic Boulevard project in Hanoi

The gigantic project Red River Scenic Boulevard, with a preliminary investment of about VND855 trillion ($32.49 billion) in Phu Thuong ward, Hanoi, broke ground on Friday.

The project, which officials describe as strategic to the capital’s long-term development and the broader Red River Delta, is among the 234 projects that commenced construction or were inaugurated/opened for technical traffic across the country on the day to celebrate the 14th National Congress of the Communist Party of Vietnam (CPV).

The project is scheduled to be completed and inaugurated on the occasion of the 100th founding anniversary of the CPV (February 3, 1930-2030).

It is developed by a consortium of investors, comprising Dai Quang Minh Real Estate Investment Corporation, Van Phu Real Estate Development JSC, MIK Group Vietnam JSC, Truong Hai Group (Thaco), T&T Group, and Hoa Phat Group.

Stretching along the Red River from Hong Ha Bridge to Me So Bridge, the project covers roughly 11,000 hectares across 19 communes and wards within Hanoi’s administrative boundaries.

The complex includes an 80km main traffic artery, approximately 3,300 hectares of landscaped parks and recreational areas, and about 2,100 hectares for urban redevelopment.

Specifically, it is part on the right bank of the Red River passes through 12 communes and wards - O Dien, Thuong Cat, Dong Ngac, Phu Thuong, Hong Ha, Vinh Tuy, Vinh Hung, Linh Nam, Hoang Mai, Thanh Tri, Nam Phu, and Hong Van.

The part on the left river bank runs through seven communes and wards - Me Linh, Thien Loc, Vinh Thanh, Dong Anh, Bo De, Long Bien, and Bat Trang.

According to project documents, the development will comprise several independent sub-projects. These include road boulevards and landscape parks on both the left and right banks of the Red River, a 42-km underground metro line along the right bank, and on-site resettlement housing in the form of high-rise apartment buildings. Additional resettlement areas may be built on land allocated to investors as part of payment arrangements.

Hanoi officials said the project is intended to modernize transport infrastructure, unlock urban space along the river, and create a distinctive, sustainable cityscape that reflects the capital’s cultural identity in a new phase of development.

Authorities also see the project as supporting Hanoi’s economic ambitions, including a target of gross regional domestic product (GRDP) growth of at least 11% from 2026 and throughout the 2026-2030 period.