The Hanoi People’s Committee has decided to restart the riverside megacity project along the Red River, called Song Hong City, after 22 years on the drawing board.

Deputy Chairman of the People’s Committee Nguyen The Hung sent Dispatch No. 9378 asking departments and the Tay Ho and Ba Dinh District People’s Committees to conduct research and propose a plan for the project then report back.

The details have not been finalized, Mr. Ta Nam Chien, Manager of the General Planning Department under the Hanoi Department of Planning and Architecture, confirmed with VET.

The Department of Planning and Investment had previously proposed the city’s People’s Committee announce the planning criteria to investors. If subsequent planning was inconsistent with the city’s master plan, the Department would introduce other locations to the investor.

Song Hong City was originally proposed by a Singaporean investor in 1994, establishing the Tran Song Hong Joint Venture to implement the project, with charter capital of VND61 billion ($2.7 million). Total investment capital at that time was put at VND240 billion ($10.8 million).

Per the agreement with the Hanoi People’s Committee at the time, the Singaporean investor prepared plans to build a modern residential area with a trade center, apartments, commercial offices, hotels, amusement parks and community areas.

Hanoi established a project management board but there were obstacles relating to water supply and the project was put on hold.

The city People’s Committee recently approved the Strategy On Urban Development Planning along the Red River from Thang Long Bridge to Long Bien Bridge, funded by the South Korean Government.

The project will examine the theoretical and practical aspects of urban development in Hanoi and review urban planning and development policies. It will also recommend development planning measures for the 11 km stretch on the banks of the Red River.

Stakeholders, including the Hanoi Institute of Construction and Planning, the Korea Research Institute for Human Settlements, and Korea Bank have worked together to ensure the project proceeds smoothly.

VN Economic Times