Photos: THM group/NDT/Courtesy
Tan Hoang Minh Group's project to change from original complex of condominiums, a trade center and office space.
The Tan Hoang Minh Group’s luxury D’. San Raffles project, in a prominent location just minutes away from Hoan Kiem Lake, will be changed into a five-star-hotel from a complex with condominiums, a trade center and office space, as was initially planned.
At a Q&A question at the Hanoi People’s Council on the project on August 2, Director of the Hanoi Department of Planning and Architecture, Mr. Le Vinh, said that Tan Hoang Minh previously hoped to build a 12-storey block but the city did not grant approval. After some consideration it recently agreed on an eight-storey building.
Chairman of the Hanoi People’s Committee Nguyen Duc Chung said the land will be converted into a five-star hotel instead of a complex of condominiums and a commercial center. “I recommended this plan because the city lacks 20,000 hotel rooms, which is one of the basic elements in turning tourism into a key industry of the city,” he said.
Despite the city’s announcement, Tan Hoang Minh’s website still describes the project as a luxury complex with condominiums, a commercial center and office space.
The group has confirmed that the project must complete procedures from city authorities on design and planning. The Department of Planning and Architecture granted a planning permit for the project on April 7. “Tan Hoang Minh is now completing legal procedures to be able to start the project in the near future,” a statement on its website said.
The site has a checkered history. In November 2004 the Hanoi People’s Committee decided to revoke the license for the 4,000 sq m site at the corner of Hang Bai and Hai Ba Trung Streets to build a commercial center, office space and housing. The plot covers more than 3,600 sq m and contained the Hanoi Plastics Factory and 17 households.
Some households within the project sought record compensation of VND1 billion ($45,000) per sq m. Neither the investor nor the city’s authorities agreed and the last of the families accepted a figure of VND500 million ($22,500) per sq m for ground floor space and VND200 million ($9,000) per sq m for second floor space.
Site clearance and compensation were completed in 2011 but construction was delayed until the approval of the Hanoi Master Plan and regulations on high-rise buildings in the city center. In order to secure its license, the developer had to negotiate with local residents and win approval from a 27-member council of architects.
Five years after the site was handed over it remains empty.
Tan Hoang Minh is also pushing forward with the completion of its D.’ Palais de Louis and D.’ Le Pont D’Or projects in the capital. D.’ Palais de Louis, which consists of 244 luxury apartments, is in the finishing stages of construction.
The Tan Hoang Minh Group primarily operates in the field of property and finance and owns premium projects in Hanoi such as D’. San Raffles, D’. Palais de Louis (in Nguyen Van Huyen Street, Cau Giay district), and D’. Le Pont D’or (in Hoang Cau Street, Dong Da district), among others.
The BRG Group caused a stir in Hanoi’s real estate market recently after announcing it would build a luxury hotel at 22-32 Le Thai To Street, near Hoan Kiem Lake. The project, however, is facing opposition in terms of architectural design because of its sensitive location in the capital.