Bui Duy Cuong, vice chairman of the Hanoi People's Committee, has signed a decision allowing Xuan Nam Viet Joint Stock Company to convert the land's use and lease the site for the Hoang Mai-Giap Bat car park and shopping centre project.
A design plan for the Hoang Mai-Giap Bat car park and shopping centre project (Photo: Hanoi City).
The project covers 60,639 square metres. Of this, 53,744 square metres of agricultural land will be converted for the development, while the company will lease a further 6,895 square metres currently managed by the Dinh Cong Ward People's Committee.
The entire site is designated for commercial and service purposes. The land lease will run for 50 years, with the company paying rent annually to the state.
The site's location and boundaries are defined in a 1:500-scale master plan, in line with the detailed planning scheme approved by the Hanoi People's Committee.
The wider planning area covers approximately 8.03 hectares, including more than six hectares for the project and around 1.97 hectares designated for city-level roads. The development is planned to include a car park, shopping centre, offices and warehouses, with no residential facilities.
Xuan Nam Viet Joint Stock Company must put the land into use within 12 months of receiving the site handover. Any delays and requests for extensions, as well as the handling of land left unused, will be subject to applicable regulations.