Hanoi Unveils Ambitious US$4.2bn Smart City Project Anchored by Vietnam’s Tallest Skyscraper

• Sommana Yan
• 26 November 2023
• International News
• 5269 Views

​In a landmark move to propel urban development, Hanoi unveiled a visionary smart city project in November, covering a sprawling 272-hectare expanse and entailing a colossal investment of US$4.2 billion.

The focal point of this monumental undertaking is the Phuong Trach Tower, a striking 108-storey financial skyscraper, slated to be Vietnam’s tallest building. It is even taller than Malaysia’s Twin Towers (88 floors) and Taiwan’s tallest building, Taipei 101 (101 floors), according to Tuoitre News on 12 November 2023.

Collaboratively designed by Vietnamese and Japanese firms, the project is spearheaded by a dynamic consortium comprising Vietnam’s BRG Group and Japan’s Sumitomo Corporation, promising to transform the landscape of northern Hanoi into a modern metropolis.

The unveiling ceremony, graced by Hanoi People’s Committee Vice-Chairman Duong Duc Tuan, marks the initiation of a groundbreaking initiative set to redefine urban living. Tuan emphasised, “The smart city project in northern Hanoi will pioneer smart solutions across energy, transportation, lifestyle, management, healthcare, and education services, setting new benchmarks for modern living in Asia.”

The cornerstone of the project lies in its commitment to accommodating over 20,000 residents, fostering a vibrant community within its smart infrastructure. Executed in five meticulously planned phases, the development is projected to reach fruition by the last quarter of 2032.

• Projects Development