Hanoi launches bidding for two urban area projects worth $231 mln

Hanoi authorities are seeking investors for two urban area projects totaling VND5.82 trillion ($231 million) in the outskirts district of Me Linh.

Specifically, the 34.4-hectare Dai Thinh new urban area project requires VND2.6 trillion ($103.5 million), including nearly VND266 billion ($10.5 million) in compensation and resettlement costs, the municipal Department of Planning and Investment said.

It will include 164 low-rise houses, a 20-floor apartment-commercial-office complex, and a five-floor office-commercial-apartment building. It is expected to accommodate 3,000 residents.

The 40.6-ha Me Linh new urban area project will have investment capital of VND3.2 trillion ($127.2 million), including VND303 billion ($12 million) in compensation and resettlement expenses.

The project, expected to house 5,100 inhabitants, will include 700 terraced houses, villas and shophouses, a 10-floor social housing building with 800 apartments, two commercial buildings, and other facilities.

The two projects are set to be constructed in four years and slated to operate for 50 years.

Applications for these projects must be submitted before 5 p.m, August 31, the municipal planning department announced.