Hanoi launches five metro lines and rental housing projects

The groundbreaking ceremony was held on June 22 and attended by Prime Minister Le Minh Hung.

Speaking at the event, Hanoi People's Committee Chairman Vu Dai Thang described the initiative as one of the most significant infrastructure and social welfare investment programmes in the city's history, marking the beginning of a new phase of development with projects expected to shape the capital for decades to come.

According to Thang, the simultaneous launch of five urban railway lines, with a combined length of approximately 303.5 kilometres and preliminary investment exceeding VND 1.3 quadrillion (approximately USD 49.7 billion), represents a major milestone in Hanoi's transport development strategy.

The programme signals a shift from constructing individual metro routes to building an integrated, modern urban railway network across the entire city, he said.

"This is the largest urban railway investment programme ever undertaken by Hanoi and one of the largest urban infrastructure programmes launched simultaneously anywhere in Vietnam," Thang said.

The city has appointed the Vinhomes-VinSpeed consortium as the engineering, procurement and construction (EPC) contractor for all five metro projects.

Thang expressed confidence that the consortium would mobilise sufficient resources and expertise to ensure the projects are completed on schedule while maintaining quality, safety and efficiency standards.

Hanoi aims to substantially complete all five metro lines by 2030.

The chairman said the target represents not only a municipal development plan but also a commitment by Hanoi to the government, residents of the capital and future generations.

Alongside transport infrastructure, Hanoi has launched three rental housing projects following national directives on expanding affordable rental accommodation.

Thang said the city views rental housing development as a long-term strategic priority aimed at strengthening social welfare, diversifying housing options and meeting increasingly varied residential needs.

The first phase includes three projects in Yen So Ward, Viet Hung Ward and Long Bien Ward, with a combined scale of more than 8,000 apartments and total planned investment exceeding VND 30 trillion (approximately USD 1.15 billion).

According to city authorities, these developments will serve as the foundation for a new rental housing segment in Hanoi's property market.

"The simultaneous implementation of metro and rental housing projects demonstrates Hanoi's strong political commitment to turning major national policies into reality through concrete projects, tangible products and measurable development outcomes," Thang said.

He added that the projects would create new growth drivers and development corridors while improving living standards and supporting the capital's long-term sustainable growth.