Nhat Tan Bridge will give a facelift to Hanoi’s hinterland
Nhat Tan Bridge will give a facelift to Hanoi’s hinterland
The soon to be completed 12-kilometre Nhat Tan Bridge - Noi Bai Airport road in Hanoi has attracted a host of interested property developers who see great potential for urban expansion along this route.
The Nhat Tan Bridge will come into operation early next year, after which urban areas will be developed along the route.
The 2,000 hectares along the road will be located across the Vinh Ngoc, Tam Xa, Hai Boi, Xuan Canh, Van Noi, Tien Duong, Bac Hong and Nguyen Khe communes.
In this area there will be a mixed use retail-agriculture urban area, so-called ASEAN City, a river urban area, and an eco-urban area.
There are currently more than 10 projects under construction along the road. The Korean-backed 2.5 billion Tay Ho Tay development is now under construction. Expected to be completed in 2019, the project will house 25,000 residents over more than 207 hectares of land.
Next to this, the Hanoi Construction Corporation is building its Diplomatic project over 62 hectares. This will consist of offices for the diplomatic staff, apartment buildings and social facilities.
A little bit further down the road, Indonesian-backed Ciputra has a new residential area that is taking shape with 50 buildings and 2,500 houses. With a total investment capital of $2.1billion, the project is now in its third phase.
Over the Red River in Dong Anh district, a range of other projects are being designed, such as Van Tri Ecoland, Duc Noi residential project, and Noble Van Tri.
Hanoi Party Secretary Pham Quang Nghi recently confirmed that the city municipal authorities were considering special policies to woo investors to participate in developing urban areas along the road.
Those policies, Nghi said, should be simple, attractive and feasible to attract private investment.
The Department of Planning and Investment was assigned by the local people’s committee to draw up the proposed incentives for submission this year.
Meanwhile, chairman of Hanoi People’s Committee Nguyen The Thao said that future investors who wanted to participate in sub-projects to develop those areas would have to remain engaged throughout the project’s life. This precondition was aimed to avoid investors who wanted to register in a certain project, build houses and quit after the houses were sold.
He stressed that the future sub-projects would need to be modern, environmentally-friendly developments. He also ruled out tall apartment blocks, favouring low-rise developments with plenty of green space.
The overall development will consist of 14 sub-projects and will see a phased implementation through until 2025.
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