A new urban area will be built in the western region Hanoi’s West Lake at cost of 314 million USD.

The 207ha urban area will include an administrative centre, a financial and trade complex, a cultural centre and a complex of apartments, villas and houses which are expected to accommodate 78,000 people.

The project’s compensation cost is estimated at 7.6 trillion VND.

The municipal People’s Committee has directed that report on the first phase of site clearance to be made prior to April 15 and the first 20ha of the project’s land to be handed over to the investor before October.

T.H.T limited company is the project’s investor and a group of five construction companies of the Republic of Korea will be in charge of building the urban area./.