The iconic "Shark Jaw" building is expected to be cleared by April 30.

The Hanoi People's Committee has issued a press release regarding the redevelopment of the Dong Kinh - Nghia Thuc Square and the public space area on the eastern side of Hoan Kiem Lake.

Redevelopment of Dong Kinh - Nghia Thuc Square

The proposed area for Dong Kinh - Nghia Thuc Square covers approximately 1.2 hectares. It is bordered to the north by Hang Gai and Cau Go streets, to the south by the edge of Hoan Kiem Lake and Thuy Ta Pavilion, to the east by Hoan Kiem Lake street, and to the west by the Hong Van - Long Van building.

Currently, the square area includes a commercial center and food service building managed by the Hanoi Transport Corporation (Transerco), built between 1991 and 1993. The site covers about 390 square meters, with a total floor area of approximately 1,600 square meters.

Public space on the eastern side of Hoan Kiem Lake

This area covers approximately 2.14 hectares, bordered to the west by Hoan Kiem Lake and Dinh Tien Hoang street, to the north by an existing residential area, to the east by Ly Thai To street, and to the south by Tran Nguyen Han street.

The site currently contains 54 land and house users, including 12 organizations and government agencies such as:

Department of Culture and Sports

Hanoi Electricity Corporation

Institute of Literature

Hanoi Population Department

Hanoi Association of the Blind

Office of the State Treasury

Electricity Hotel

Northern Power Corporation

Electric Transmission Company No. 1

City Citizen Reception Office

Two cooperative buildings

Additionally, 42 residential households are affected.

Compensation and relocation policies

The relevant departments and local authorities are urgently working on compensation and resettlement policies for the affected organizations and households.

The relocation will comply with the special mechanisms approved by the National Assembly in Resolution No. 188/2025/QH15, dated February 19, 2025, to support the development of urban railway networks in Hanoi and Ho Chi Minh City, as well as the Capital Law of 2024.

The "Shark Jaw" building relocation is planned for completion by April 30, while the eastern area of Hoan Kiem Lake will be cleared by September 2, 2025.

The redevelopment plan is being urgently finalized, with input from the Hanoi Construction Planning Institute and expert consultants.

N. Huyen