Hanoi approves $32.5 bln Red River scenic boulevard project

Hanoi has approved a massive urban redevelopment project along the Red River which would transform the city’s riverbanks into a new ecological, economic and cultural space, local authorities said.

The Hanoi People’s Council on Sunday passed a resolution endorsing the investment policy for the Red River Scenic Boulevard project, which officials describe as strategic to the capital’s long-term development and the broader Red River Delta region.

The project, with a preliminary investment of about VND855 trillion ($32.48 billion), is located along the Red River from Hong Ha Bridge to Me So Bridge, within the administrative boundaries of 19 communes and wards of Hanoi.

Specifically, the project 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 passes through seven communes and wards: Me Linh, Thien Loc, Vinh Thanh, Dong Anh, Bo De, Long Bien, and Bat Trang.

The complex covers an area of approximately 11,000 hectares, including an 80km main traffic artery, approximately 3,300 hectares of landscaped parks and recreational areas, and about 2,100 hectares for urban redevelopment.

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 45-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.

The preliminary total investment for the entire project is estimated at VND855 trillion ($32.48 billion), with detailed capital requirements for each component to be determined at later stages. The city aims to complete the project by 2030.

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.

The selection of investors to implement the project will apply specific mechanisms and policies in accordance with the resolutions of the National Assembly and the Hanoi People's Council on the implementation of large and important projects in the capital city.

Tran The Cuong, standing Vice Chairman of the Hanoi People’s Council, likened the initiative to South Korea’s transformation of the Han River, saying that, if executed on schedule and to a high standard, the project could create a “Red River miracle” for Vietnam.

The city has been instructed to avoid overlap with other infrastructure projects, ensure efficient use of land resources, and strictly comply with regulations on flood control, dykes, and environmental protection.

Hanoi authorities also stressed the need for coordinated solutions on land clearance, social welfare, and public consultation to secure residents’ support during implementation.