Northern Vietnam province Ha Nam to have $193 mln new urban area

A consortium of Taseco Land and Ha Nam Construction and Equipment JSC is building a nearly VND4.8 trillion ($193.4 million) new urban area in Ha Nam province.

The project, named the New Urban Area in the South of Duy Tien Township's Administrative Center, will cover 115.1 hectares in the township’s Yen Bac and Tien Noi wards.

It will be implemented from 2022 to 2028, according to a representative of the developers. Residential land will account for about 31.3% of the total project site, featuring apartment buildings, terraced houses, and detached and semi-detached villas.

The apartment buildings will be constructed on four land plots, with a maximum height of 17 stories. There will be 230 terraced houses of 4-5 stories, 12 detached villas of three stories, and 16 semi-detached villas of three stories.

The project will also include commercial and service buildings, schools, sports and healthcare facilities.

Two months ago, Taseco Land, a subsidiary of Taseco Group, kicked off construction on the Dong Van III Taseco Industrial Park with a total investment of over VND2.3 trillion ($92.67 million) in Yen Bac, Tien Noi and Hoa Mac wards, and Tien Ngoai and Yen Nam communes in Duy Tien township.

Recently, Taseco Land was the sole entity to register for investing in the VND3.2 trillion ($128.93 million) Me Linh urban area in Me Linh district, Hanoi.

Previously, Bac Giang province's Department of Planning and Investment announced that Taseco Land was the only investor to register for a project located within an urban area complex in Tien Phong commune (Yen Dung district) and Dong Son commune (Bac Giang city). This 40.9-hectare project is expected to cost over VND3.8 trillion ($153.1 million).

Taseco Land was established in 2009 as An Binh Real Estate Investment JSC. The company has gained prominence through numerous apartment projects in the Diplomatic Corps area and the Western West Lake in Hanoi, as well as various urban and residential areas in Thanh Hoa, Nam Dinh and Quang Ninh provinces.

In 2024, the company aims for a net revenue of VND3.04 trillion ($122.48 million) and a post-tax profit of VND475 billion ($19.14 million).

Ha Nam Construction and Equipment JSC was set up in 2021 and is headquartered in Kim Bang district, Ha Nam province. Its charter capital as of September 2023 was VND515 billion ($20.75 million).