Hanoi Plans Over 162,000 New Apartments by 2030

Hanoi has unveiled a list of 40 urban development and housing projects, aiming to supply over 170,000 new housing units by 2030. Approximately 95% of these, totaling over 162,000 units, are expected to be operational by the target year. According to a decision by the Hanoi People's Committee, the 40 projects will be built on a total land area exceeding 2,296 hectares, with a combined investment of VND 393,184 billion (approximately USD 15.4 billion). These projects are projected to offer 170,327 units to the market, comprising 126,580 apartments and around 22,000 low-rise commercial housing units. Social housing is expected to account for over 19,500 units. Of the units slated for completion by 2030, more than 142,780 will be commercial housing and over 19,350 will be social housing. An additional 2,469 commercial units and 882 social housing units are scheduled for completion after 2030. The largest project in terms of investment is a multi-purpose urban area in Bo De and Long Bien wards and Bat Trang commune, with an estimated cost of VND 85,000 billion (approximately USD 3.3 billion). This development spans nearly 300 hectares and will feature over 38,170 apartments, primarily commercial apartments and social housing. Several other projects boast investments exceeding USD 1 billion, including the Soc Son Northern Service Complex Urban Area (VND 35,000 billion), a new urban area in Gia Lam district (VND 30,000 billion), a new urban area in Thach That and Tay Phuong communes (VND 48,000 billion), and the Dong Quan Lake Resort and Healthcare Complex Urban Area in Soc Son and Noi Bai communes (VND 40,000 billion). The Dong Quan Lake Resort and Healthcare Complex Urban Area is also the largest in terms of land use, covering over 750 hectares. It plans for 4,720 high-rise apartments and 2,625 low-rise units, with completion anticipated in 2031. The Hanoi People's Committee has instructed relevant departments, including Finance and Agriculture and Rural Development, to review projects that are either not yet started or are behind schedule and not included in the current list of 40. These departments, along with ward and commune authorities, will report every three months to the committee, providing accurate information and determining which projects can proceed or are ineligible. The city will then decide on updates or removals from the housing development list.