Tuesday, 19 Feb 2019

Cable car system across Red River may give boost to Hanoi's real estate: CBRE

Updated at Sunday, 08 Jul 2018, 19:00
The Hanoitimes - A proposed car system across an iconic river in Hanoi would be good news for the local real estate market, according to a CBRE researcher.
A cable car system across the Red River can be an interesting proposal for the city’s real estate market, said Nguyen Hoai An, director of consultancy services at CBRE Vietnam.
The director also noted that Hanoi's policy makers should considered thoroughly the planning of the Red River area to stir its potentials up.  Hence, the proposal of building cable car in this area, without affecting the neighboring historic landscape, can generate good outcome for the overall planning.
Yet as far as CBRE is concerned, this is a long story in the future and won't exert immediate influence on Hanoi's real estate market, An added.

Illustrative photo
Illustrative photo
Poma, a France-based firm in late June proposed building a cable car system in Hanoi that runs across the Red River.
As per the proposal, the cable will be about five kilometers long, of which the 1.2 kilometer-section hangs over the Red river while the rest spans on land and runs above buildings.
Connecting Long Bien bus transit station (Tran Nhat Duat Street) to Gia Lam Station (Long Bien district), the system would ease the traffic pressure for the inner city and reduce congestion during rush hours on the three bridges of Long Bien, Chuong Duong and Vinh Tuy, according to Poma.
Hanoi official has received Poma’s proposal and pledged to consider its feasibility. Director of the Hanoi Transport Department Vu Van Vien on Jun 29 said the authority would spend more time studying details of the project.
Hanoi authority has taken seriously look into planning the areas along the iconic Red River that ensures the city’s flood-resistant capability and create a modern urban area along the river. In 2017, the city required three investors namely Sun Group, Vingroup and Geleximco to devise planning schemes for the area.
The Red River, originating in China, flows past Hanoi and several provinces in the north of Vietnam before emptying into the Gulf of Tonkin.
Apart from being one of the main river systems that plays a crucial role in irrigation and waterway traffic, the river is also considered to be a symbol of the capital city.
Cam Anh
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