Southeast Asia’s largest smart city to be kicked off this October in Hanoi
By Dang Hoa
June 19, 2018 | 08:06 AM GMT+7
The $4 billion smart city project invested by the joint venture between Vietnam’s real estate developer BRG Group and Japanese-based trading company Sumitomo has been licensed by the Hanoi People's Committee.
Perspective of smart city located in the north of Hanoi
The project spanning 272 hectares in Hai Boi commune, Dong Anh district connects with the center of Hanoi via the Nhat Tan - Noi Bai axis.
This smart city is one of the large projects in the 1/500 scale detailed construction planning established for 2,080 hectares of land spreading alongside the Vo Nguyen Giap route.
The city will be developed within five phases invested by five joint venture models with the total investment capital of $4.138 billion. In the first phase, the Sumitomo - BRG joint venture will pour over $1 billion into facilities on an area of 73.11 hectares.
So far, these corporations have completed all the investment procedures and prepared financial resources to start the project.
After receiving the investment license, the joint venture will soon conduct the land clearance to kick off the first facilities this October as expected. The city’s final phase is also expected to be completed by 2028.
President of BRG Nguyen Thi Nga said that the city’s infrastructure would be developed synchronously in accordance with its planning established by Hongkong-based P&T Consultants Pte Ltd.
According to the leader of BRG, this smart city has the core of the railway station No. 2, starting from Tran Hung Dao street. In addition, the venture will apply high-tech management systems in the areas of energy, health, education; as well as construct a clean water plant that meets international standards.
According to president and CEO of Sumitomo Masayuki Hyodo, the smart city model currently lures much of international attention.
There would be a happy and peaceful living zone for residents with the combination of environmentally friendly facilities, advanced landscape, and broad green spaces.
Hanoi became a hotspot in drawing huge flow of investment when its local authority yesterday granted certificates and approval to 71 projects totaling over $17 billion of registered capital.
Hanoi became a hotspot in drawing huge flow of investment when its local authority yesterday granted certificates and approval to 71 projects totaling over $17 billion of registered capital.
While the average price of apartments in Hanoi has reached new heights, with supply primarily concentrated in the premium and luxury segments, there are still no signs of a price slowdown.
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