Skip to main content

Hanoi Calls for Investment in a $500 Million Theater and Park Project at West Lake

Hanoi Calls for Investment in a $500 Million Theater and Park Project at West Lake

The city of Hanoi is seeking investors for the Ngoc Trai Theater and Cultural-Art Park project, with a total investment of approximately $500 million. The project is planned to be located in the Quang An area, Tay Ho District.


Project Location and Scope

The project is situated on land plots CXĐT.08, CXĐT.09, and P2, as per the detailed urban planning of the Quang An Peninsula Central Axis. The area is:

  • East and Southeast: Adjacent to Dang Thai Mai Street
  • West: Bordering West Lake
  • Northwest: Adjacent to an existing residential area
  • North: Connected to the planned road linking Dang Thai Mai and Quang Ba

With a total area of over 191,240 m², the project allocates approximately 182,000 m² for the theater and park, while the remaining space will be used for parking and traffic infrastructure. The total estimated investment is 12.756 trillion VND (around $500 million).

Project Timeline

According to the bidding documents, the first three quarters of 2025 will focus on preparatory work. The construction phase is planned to begin in Q4 2025 and continue until Q1 2029. The project is expected to be fully completed between Q2 and Q3 of 2029, with Ngoc Trai Theater being prioritized for early construction.

This theater will be a landmark architectural highlight along the Quang An Peninsula Central Axis, in line with the detailed urban planning approved by Hanoi's People's Committee at the end of 2024.

An Iconic Architectural Design by West Lake

According to the design concept announced in 2022, Ngoc Trai Theater will cover about 13,000 m² and be built on Dam Tri Lake, using privately funded investment.

The structure is designed by renowned Italian architect Renzo Piano, the visionary behind architectural masterpieces such as the Georges Pompidou Center in Paris and The Shard in London.

Renzo Piano’s design for the theater draws inspiration from the waves of West Lake, creating a soft, poetic, and modern domed structure. The dome will feature a pearl-like effect, reflecting the changing colors of nature—from sunrise to sunset—on the lake’s surface, making it a unique and captivating architectural landmark.

Labels:
Location: Hanoi, Vietnam

Contact us for consultation

Name

Email *

Message *

Popular posts from this blog

Medical Wellness Resorts – A New Trend in Healthcare Real Estate Investment

  A Medical Wellness Resort (or Hospital Resort ) is a model that combines an internationally standardized hospital with a high-end resort, providing specialized medical services in a relaxing, health-recovering environment. This model is already well-established in developed countries such as Thailand, South Korea, and Japan and is gradually becoming a new trend in Vietnam . Potential for Developing Medical Wellness Resorts in Vietnam Vietnam possesses several advantages for developing healthcare real estate integrated with wellness tourism: Low-cost, high-quality healthcare : Medical services in Vietnam are increasingly meeting international standards while costing only 30–50% of those in developed countries . Strategic geographical location : Vietnam is near high-demand markets such as China, Japan, South Korea, and Australia , attracting visitors seeking medical treatment. Ideal climate and natural landscapes : Destinations like Da Nang, Nha Trang, Phu Quoc, and Da Lat of...
Read more

HCMC Apartment Prices Reach an Average of 91 Million VND/m², Up 36% in Q4 2024

HCMC Apartment Prices Reach an Average of 91 Million VND/m², Up 36% in Q4 2024 According to Savills Vietnam's 2024 real estate market report , the average price of apartments in Ho Chi Minh City (HCMC) in Q4 2024 reached 91 million VND/m² (excluding taxes and fees), marking a 36% increase from the previous quarter and a 33% increase year-over-year . This is a new record high for the city's apartment segment. Previously, Avison Young Vietnam reported that 90% of the new supply launched in HCMC in the last three months of 2024 was priced between $3,000 - $5,000/m² (approximately 75 - 120 million VND/m²) . Meanwhile, data from OneHousing (a subsidiary of Techcombank) indicated that the average primary sale price in Q4 was about 85 million VND/m² , with nearly 40% of the supply in the luxury segment , priced between 120 - 290 million VND/m² . Reasons Behind the Sharp Price Increase Savills attributed the price surge mainly to the dominance of high-end apartments in the new...
Read more

Residential Land Prices in Hanoi Rise Over 30%

 Over the past year, residential land prices in several suburban districts such as Long Bien and Gia Lam have increased by more than 30% year-on-year, according to a report from OneHousing. OneHousing, a market research unit backed by Techcombank and Masterise, noted that both land prices and transaction volumes in Hanoi saw significant growth last year. In 2024, the total number of transactions reached approximately 42,000. Liquidity in this segment peaked in the second quarter before gradually declining toward the end of the year. In the fourth quarter alone, the western area (Cau Giay, Bac Tu Liem, Nam Tu Liem, Ha Dong) led with 3,500 transactions, while the eastern area (Long Bien, Gia Lam) recorded about 2,900 deals. Land prices in other areas also experienced strong growth, ranging between 17-33% over the past year. Specifically, in the east, the average land price in Long Bien was around 130-150 million VND per square meter, while in Gia Lam, it ranged from 40-60 million VND...
Read more
Update cookies preferences