Hoa Binh Group proposes 100,000 affordable homes along Hanoi metro

Nguyen Huu Duong, Chairman of Hoa Binh Group, has proposed a large-scale urban development project in Hanoi aimed at addressing public transport, affordable housing, and land use. The plan involves constructing 60,000 to 100,000 social housing units integrated with commercial centers along the 32km Metro Line 5 (Van Cao – Hoa Lac).

The proposed model utilizes the 20m wide median of Thang Long Boulevard, featuring underground metro stations, semi-underground commercial hubs, and social housing blocks above. Mr. Duong suggests the project could be completed in one year, requiring only a symbolic $1 investment from the State while generating approximately 3 trillion VND in VAT revenue. He estimates housing prices could start as low as 1 billion VND.

Financial expert To Anh Hung, CEO of REFI, noted that while the idea is bold, it faces significant challenges. He highlighted that the scale of the project—potentially supporting a population of 300,000 to 500,000 residents—would require detailed planning regarding infrastructure, utility capacity, funding, and operational management for schools, medical facilities, and community spaces.