A $7 billion new town is being planned in Vietnam, across the Red River from capital city Hanoi. And though the creation of thousands of new houses is welcomed, many are concerned about development along the sensitive riverfront.
"The Red River will become the centre of Hanoi with international financial buildings, high-class apartment buildings and parks along the rivers. Investment in this huge project is estimated at over US$7 billion, with 39,000 families being moved."
"On September 17, the Hanoi Department of Planning and Architecture presented its report on the Plan by Vietnamese and Korean experts to develop a 4,200ha new town project across the Red River from Hanoi."
"Officials and experts from Hanoi and Seoul will cooperate to develop this project from 2008 to 2020. Korean experts also introduced some measures to control flooding and prevent landslides for the riverside areas from the past experiences of developing Seoul."
"The Hanoi Department of Planning and Architecture have now collected the opinion of local residents about this plan from September 17-29, 2007. After that, the plan will be adjusted and will be completed in November 2007 to submit to the Prime Minister for approval."
"In reaction to this news, several experts and officials, including former Prime Minister Vo Van Kiet, have expressed their concerns about the facts that the Red River is much different from Han River (Seoul) and the plan need to show more scientific studies of its impact on the project in the future. The officials have now interested to find international urban expansion case studies of similar scale within similar geographic conditions for references."
Comments
The Price Tag
Recent news disclose that the price tag would come up to 20 billion USD or more. At this cost, the investors should present a more comprehensive urban plan as well as financial plan than the current ones.