Vingroup subsidiary to build 110,000 sq m site.
The Hanoi People’s Committee has recently approved the planning on a scale of 1:500 for a functional urban area at land lots 233, 233B and 235 Nguyen Trai Street in the capital’s Thanh Xuan district.
A Vingroup subsidiary, Xavinco Real Estate JSC, has been assigned to conduct demarcation of the land lots and other tasks.
With an area of nearly 110,000 sq m, the land lots, opposite Vingroup’s Royal City, are located in a favorable location and were formerly owned by the LIX Detergent JSC, the Hanoi Soap JSC, and the Thang Long Tobacco Co. (Vinataba Thang Long).
According to the approved planning, the urban area will comprise high-rise residential buildings, a green space, kindergartens, and public facilities. It will be a modern urban area with synchronous technical infrastructure and will contribute to the architectural landscape along Nguyen Trai Street.
Xavinco is a joint venture between Vingroup and the Hanoi Soap JSC, in which Vingroup owns 75 per cent.