Hanoi to allocate 720ha of land for commercial housing projects
The capital authorities target to use available land resources to build more affordable homes, thus increasing the supplies for the real estate market.
THE HANOI TIMES — Hanoi plans to earmark 155 land plots, covering a total of 720 hectares, for the development of commercial housing projects dedicated to increasing the volume of affordable homes.
A social housing building in Long Bien Ward, Hanoi. Photo: Le Tam/The Hanoi Times
The plan is part of the policies the Hanoi People’s Committee has submitted to the municipal People’s Council for consideration at its mid-year meeting scheduled for July 8-11.
Under the proposal, investors will be allowed to negotiate land-use rights for agricultural and non-agricultural land (such as commercial service land) to build commercial housing projects.
Of the total land area, nearly 390 hectares are currently rice fields.
The largest proposed project is the Noble Van Tri urban area, covering nearly 13 hectares with an expected investment of VND10 trillion (US$382 million).
Other notable projects include a mixed-use apartment and commercial complex in Tay Ho Ward with an area of 6,000m2 and an investment of VND2.5 trillion ($96 million), and another in Giang Vo Ward covering 3,000m2 with an investment of VND1.6 trillion ($63 million).
Among suburban communes, Dong Anh has the highest number of proposed pilot plots, including the Dong Hoi urban housing project and the Viet Hung residential area.
Most of the proposed projects are expected to be completed between 2028 and 2030, with implementation timelines ranging from three to five years.
Hanoi government’s plan aims to implement Resolution 171 of the National Assembly, which allows pilot commercial housing projects on land obtained through negotiated use rights or land that already has approved usage.
The pilot will run for five years. Previously, developers could only build commercial housing on land already designated as residential.
Under the new framework, the eligible land plots must be located within urban areas and must not exceed a 30% increase in residential land area compared to current usage, based on the province's land zoning and allocation plan through 2030.
Hanoi has approved 148 land plots covering more than 840 hectares to pilot similar commercial housing projects through land-use rights agreements.
These plots are concentrated in pre-merger districts of Hoang Mai, Long Bien, Thanh Xuan, Dong Anh, and Hoai Duc.
The Vietnam Association of Realtors reported that 58% of newly launched housing products belonged to the high-end and luxury segments in Q1/2025.
Although the share of affordable housing, including social housing, has improved, it remains low at just 13%, or nearly 2,000 units – far below the estimated demand for millions of such homes.
