The development forms part of the SL Urban complex, located on plot C1-CC1, a prime site in phase one of the Starlake project.
The plot covers more than 17,240 sq metres, with the first phase to be developed on around 4,926 sq metres. Plans show a 10-storey building with three basement levels, intended to serve as a commercial focal point for the wider complex.
Starlake urban area (Photo: Tran Khang).
The centre will be named Westlake Square Hanoi and developed by Toshin Development, Takashimaya’s real estate subsidiary. The Japanese retailer’s first major project in the capital is expected to open in the third quarter of 2027.
Starlake is widely regarded as one of Hanoi’s most expensive areas. Under the newly issued land price list, plots in prime locations along roads between 13.5 and 60 metres wide are priced at more than VND 114 million per square metre.
Takashimaya previously announced plans to expand into Hanoi, with the earliest timeline set for 2026. Nikkei reported that the group’s chair, Yoshio Murata, said total investment in the project would be about USD 13 million.
In July 2025, Toshin Development reaffirmed its strategy to strengthen its presence in Hanoi, citing rapidly growing demand for high-end retail. The Starlake development is seen as a foundation for the company’s long-term expansion in the capital.
Takashimaya, founded nearly 200 years ago, is one of Japan’s best-known department store brands. In Vietnam, it has operated a luxury shopping centre in District 1, Ho Chi Minh City, since 2016. In Hanoi, it also manages The Loop shopping complex, formerly known as Indochina Plaza Hanoi (IPH).