Hanoi opens bidding for $1.3 bln smart city project

The Hanoi government is seeking investors for a new urban area in the suburban district of Dong Anh to meet the unmatched housing demand of its residents.

The Smart-Ecological Urban Area will cover 268 hectares in Tam Xa, Vinh Ngoc, and Xuan Canh communes, with a potential investment of VND33,093 billion ($1.3 billion), excluding costs of site clearance, resettlement, and land rental.

Site clearance and resettlement is expected to cost another VND2,090 billion ($82 million), according to the municipal Department of Planning and Investment.

The project’s life span is 50 years from the handover of the land use rights. Investors will have to finish all construction by 2031.

The project will have 41 hectares for residential constructions, including 7.29 ha for villas, 10.9 for landed housing, 12.5 ha for high-rise buildings, and 10.28 ha for social housing.

There will be 12,833 housing units: 427 villas, 1,211 landed houses, 7,769 commercial apartments, and 3,426 social apartments. Once complete, the new urban area will house some 38,500 residents.

Interested bidders should submit applications by June 29, added the announcement.

Dong Anh is one of two rural districts in Hanoi to be upgraded to urban districts soon. It has an area of 185 square kilometers and a population of 437,000.

It is also home to the Smart City project that has an investment of $4.2 billion and covers 270 ha in Vinh Ngoc, Hai Boi, and Kim No communes. Its investor is North Hanoi Smart City JSC, a joint venture between Vietnam’s BRG Group and Japan’s Sumitomo.

The project will feature a 108-storey financial tower, residential-office buildings, and villas.

In addition, Vinhomes, the residential development arm of conglomerate Vingroup, is completing legal procedures for the Vinhomes Co Loa project covering 384 ha, costing $1.6 billion.