Hanoi Approves More Apartments for Foreign Buyers in Starlake Project

Hanoi's Department of Construction has granted permission to THT Development Co., Ltd. to sell a maximum of 150 apartments across three towers – K8B, K8C, and K8D – in the Starlake urban area (West Lake) to foreign individuals and organizations. These buildings are located outside areas requiring security assurances, meeting the criteria for foreign property ownership. The three towers, K8B, K8C, and K8D, comprise a total of 502 apartments. Towers K8B and K8D each have 154 units, while tower K8D has 194 units. Under the 2023 Housing Law and Decree 95, foreign entities can own up to 30% of apartments in a residential building. Consequently, towers K8B and K8D can each sell up to 92 units to foreigners, while tower K8D can sell up to 58 units. These three towers are part of the K8CT1 Starlake project, adjacent to Ring Road 2 (Vo Chi Cong). The project includes four 23-story apartment buildings with two basements, offering 656 luxury apartments. The West Lake International New City (Starlake) covers approximately 186 hectares and is invested in by THT Company. The enterprise is backed by South Korea's Daewoo E&C. This area also features the highest land prices on the land price list issued by the Hanoi People's Committee. Currently, commercial service towers, hotels, offices, and high-end apartments are continuously being built in this area. In the future, it is expected to host the headquarters of numerous ministries and departments and offer convenient connections to Metro Line 2. In April, Hanoi also approved nearly 4,000 apartments in functional urban areas 233, 233B, and 235 Nguyen Trai Street (Cao Xa La) for sale to foreigners. The project is developed by Masterise Homes. Source: VnExpress