The revocation was signed by Deputy Chairman of the Hanoi People's Committee, Truong Viet Dung. It nullifies Decision No. 4126 issued in August 2010, which initially allowed for the conversion of the land for a mixed-use commercial and residential tower.

The city has also rescinded related documents, including Decision No. 2447 from May 2011 and Official Letter No. 9534 from December 2012.

The cancellation follows a 2022 decision by both Viet Ha Trading and Investment JSC and Thang Long Dong Anh JSC to terminate the project, in accordance with Vietnam’s 2020 Investment Law and Decree No. 31/2021. This termination was accepted by city authorities via Official Dispatch No. 1800 in June 2022.

This latest move formalizes the shutdown of the project, which despite being approved over a decade ago, never progressed beyond the planning stage.

No tower, but some land use retained

Although the high-rise development is officially scrapped, Viet Ha Trading and Investment JSC will retain rights to a portion of the site.

The city has granted the company continued use of 1,093 square meters of land at the 11–13 Nguyen Chi Thanh site for office and service business purposes. The land will be leased on an annual fee basis, calculated according to the state-issued land pricing framework.

Of this area, approximately 793 square meters lie outside the red line boundary and rail safety corridor and can be used until October 15, 2043.

The remaining 300 square meters fall within the red line zone and the protected corridor of Urban Railway Line 5 (specifically, Station No. 9). Construction of new structures is strictly prohibited in this area. If land is later reclaimed for public transport development, the company is required to hand it over as mandated. The permitted use period here also ends on October 15, 2043.

Strict regulations remain in place

City authorities have instructed the company to fulfill all financial obligations and to adhere strictly to legal guidelines concerning land use, environmental standards, fire safety, and construction laws.

The company may not alter the land use purpose without explicit approval from the city. Any plans to build new structures, renovate, or expand existing facilities must be reviewed by the Department of Planning and Architecture, the Hanoi Urban Planning Institute, and the Giang Vo Ward administration to ensure compliance with the city's approved zoning and infrastructure regulations.

This case joins a growing list of abandoned or cancelled real estate projects in Hanoi, particularly on high-value urban plots once earmarked for ambitious development.

Hong Khanh