Hanoi greenlights $1.1bn renovation project for iconic West Lake

The project, approved on Monday, covers a total planning area of 567.75 hectares, including 520.9 hectares of West Lake’s water surface and 46.85 hectares of surrounding land.

The main component involves renovating and expanding the 13.5-kilometer lakeside road.

Some road sections will be widened to 21 meters, while others will be adjusted according to existing urban conditions.

Authorities said that the expansion will not encroach on existing residential areas.

Instead, the widened sections will be built as elevated structures extending over the lake, designed like balconies to preserve the lake’s surface area.

The project also includes plans for public squares, viewing platforms, pedestrian bridges, boat docks, parks, flower gardens, underground parking facilities combined with commercial services, and environmental protection infrastructure.

The project is slated for completion by 2030.

The municipal People’s Council on the same day also passed policies to encourage investment in transport infrastructure, including bus stations and parking lots under public-private partnerships.

Investors may use up to 25 percent of land area for commercial services and receive 50-percent interest subsidies on loans for up to five years.

New projects must also integrate clean energy charging stations, with at least 30 percent of parking spaces equipped with charging points along Ring Road No. 3 and other major developments.