Hanoi urban land use conversions

The Hanoi People's Committee has approved several land use conversions for large-scale urban development projects in the city.

In mid-September, approval was granted for a multi-purpose complex at 94 Lo Duc Street in the Hai Ba Trung District. Managed by House Business and Construction JSC, the project involves approximately 1.96 hectares and will include offices, a hotel, a commercial center, and residential housing. The development also incorporates reclaimed land from 67 Ngo Thi Nham Street to consolidate the site.

In early October, authorities approved a separate land conversion for the Chua Boc residential project at 6-8 Chua Boc. Managed by Corporation 36, this project covers approximately 9,826 square meters and is slated for development into a high-rise residential complex with integrated commercial and service facilities. The residential portion is granted for 50 years, while the commercial and service land will be leased annually for a 50-year term. The site will also include underground parking.

Additionally, Hanoi reported significant land use revenue totaling over 85,044 billion VND as of September 30, representing more than 56% of the annual plan. Nearly 33% of this revenue was generated by three major real estate projects: Starlake (Tay Ho Tay urban area), Ciputra (Nam Thang Long urban area) Phase III, and the Cao Xa La urban area project.