Hanoi Melody project in Linh Dam, Hoang Mai, asked Hanoi to allow construction and business to resume after more than a year of stagnation.
The low-rise housing project and the resettlement housing area combined with commerce at plot PT1 and part of PT2 in the new urban area Southwest of Linh Dam Lake, invested by Linh Dam Real Estate Investment Company Limited. The apartment buildings in this project have the commercial name Hanoi Melody Residences developed by Hung Thinh Land, and started construction in 2022.
However, since last year, this project has stopped all construction and business activities under the direction of the Hanoi People’s Committee to overcome existing problems. Specifically, buildings NO-02 and NO-04 stopped construction on the 11th floor, NO-03 stopped on the 2nd floor, building NO-01 and the underground garage (to build resettlement houses) have not been constructed. Part of the land plot PT2 is arranged with 198 low-rise commercial houses.
Perspective of high-rise buildings of Hanoi Melody Residences project. Photo: Hung Thinh Land
Perspective of high-rise buildings of Hanoi Melody Residences project. Photo: Hung Thinh Land
Currently, the People’s Committee of Hoang Mai district said that the investor has completed the financial obligations related to the project and the procedures for handing over the boundary markers on the field. The investor also asked the People’s Committee of Hanoi to allow the project to continue construction and resume business.
Based on the investor’s proposal, Hoang Mai district has also assigned departments to research, review and the district to evaluate whether this project can continue to be implemented.
In addition, the district also proposed that the city adjust and extend the investment policy of Hanoi Melody Residences project. Because up to now, the project has expired according to the policy granted in July 201 – the approved progress is only until the fourth quarter of 2019.
On October 24, Vice Chairman of Hanoi Duong Duc Tuan commented on this project. He assigned the Department of Planning and Investment to guide and urge investors to adjust the project policy (including implementation progress, increasing the scale of resettlement apartments at project NO-01). Based on the previous planning, the 4 high-rise blocks of the Hanoi Melody Residences project have a total scale of more than 1,850 apartments.
Hanoi City assigned the People’s Committee of Hoang Mai District to be responsible for deciding to continue implementing the construction of this project. If necessary, the district can ask for guidance from the Department of Construction.
Recently, many brokers have also posted ads to sell this project again with prices starting from 70 million VND per square meter – a sharp increase compared to the initial implementation time. At the end of the first quarter of last year, this project applied a discount policy for buyers who paid early on schedule, the lowest price was just under 40 million VND per square meter.