Hanoi allocates 24,000 m² to Phu My Group and Bac Ha for industrial and social‑housing projects

The Hanoi People's Committee signed Decision 3195/QĐ‑UBND on 26 June 2026 granting Phú Mỹ Group a 13,390.7 m² lease (Phase 2) in Phú Nghĩa commune for the Dong Phú Yên industrial cluster. The 50‑year lease runs until 14 Nov 2069 and includes rent exemptions for infrastructure and early‑stage construction, as provided by the 2024 Land Law and related decrees.

Separately, Hanoi issued Decision 3351 allocating 10,849 m² to the state‑owned Bac Ha Group in Định Công ward for the Tay Nam Kim Giang social‑housing project. Of this, 8,889 m² will be used for subsidised housing and 1,960 m² for commercial housing, with a lease term ending 24 Mar 2076. The allocation bypasses public auction, and penalties include land reclamation without compensation if the developer fails to commence use within the stipulated period.

Both projects are part of Hanoi’s broader strategy to expand industrial capacity and address affordable‑housing needs, involving long‑term land use contracts and financial incentives to attract investment.