Hanoi Approves Two Mega Projects

Official approval has been given for two mega real estate projects in Hanoi collectively worth $2.28 billion. The projects, to be developed by Vingroup, Vietnam’s leading property firm, and Bitexco Group, which is famous for the Bitexco skyscraper in Ho Chi Minh City.

Bitexco’s multi-use development, The Manor Central Park, has an investment capital amounting to $1.9 billion. The complex will comprise of villas and luxurious apartments, offices, schools, trade centres and other facilties like green parks, lakes, fitness centres and restaurants. Construction is expected to take five years.

The other development that has received the go ahead is the 17.6 hectare Green City with an investment capital of $379.4 million from Hong Ngan Real Estate. Vingroup expects to start construction of the project in the fourth quarter of 2015, and hopes to complete it by 2019.

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