The Hanoitimes - THT Development officially broke ground on the biggest urban development project so far in Hanoi – the 2.5 billion USD Starlake.
Invested by Daewoo E&C and the Korea Development Bank (KDB), plans call for Starlake to become a modern and environmental friendly urban area for 25,000 residents located in the west of Hanoi.
The start of this large scale project was among a wide range of activities to celebrate 20 years diplomatic relations between Vietnam and South Korea.
According to Seo Jong Uk, chairman of Daewoo E&C, the brand name of the project was very meaningful. The Star represents for a symbol of a modern urban area and Lake represent for the mark of Hanoi’s West Lake and friendly living environment close to nature.
“A brilliant star sparkling in the sky of Hanoi and shinning on the waterfront ofthe West Lake represents the state-of-the-art first class urban area by the West Lake,” said Uk.
“We aim to develop Starlake into new model urban area of Vietnam which will represent for the future of Asian cities,” said Uk.
Starlake is envisioned as a new cultural hub with international commercial and financial centres that promote trade and the building of cultural networks. The project is in step with Hanoi’s master planning to 2030 with a vision towards 2050, as ratified by the prime minister in 2011.
Especially cultural international standard constructions which will be built in Starlake will be an exclusive example for the close cultural exchange between Vietnam and Korea, as well as international standard buildings will be offices for both two countries’ companies, he added.
Lee Kwon Sang, general director of THT Development company, representing for the investors said that with the brand name of Starlake the project will become a modern and Korean style urban area with ideal and environmental friendly living standard.
“Starlake’s brand mark colour is orange – the combination of yellow colour of Vietnam flag’s star and red colour of luxury and sophistication symbolising the sunset on the West Lake, which all together conveys a warm and thriving feeling,” said Sang.
According to Nguyen Huy Tuong, Deputy Chairman of Hanoi Municipal People’s Committee, investors had seriously studied the project and the implementation had been in a professional manner.
“We at local authority have highly appreciated the efforts of the investors to start construction of the project even right at the real estate market in its sluggish time, Tuong said, adding that the local government and its relevant authorities would reserve highest efforts to support the investors to push the project forward.
Starlake is built in a total area of 207 hectares belonging to Xuan La ward of Tay Ho district, Nghia Do ward of Cau Giay district and Xuan Dinh and Co Nhue wards of Tu Liem district.
The location is the nicest venue of Hanoi boundary by busy wards and next to the West Lake. Via two railways connected to the internal Hanoi centre, it takes only 10 minutes to get to Starlake from downtown or Noi Bai International Airport. The future connections can help Starlake become the major transaction centre of Asia.
In the total of 207ha, the investors reserves 90ha for road, promenade, parks, trees and lakes, more than 25ha of open space projects for the public service activities of the city and the new headquarters building departments will move on.
Business & Investment Opportunities
Saigon Business Corporation Pte Ltd (SBC) is incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Strategy, Investment and Management, focusing Health care and Life Science with expertise in ASEAN 's area. We are currently changing the platform of www.yourvietnamexpert.com, if any request, please, contact directly Dr Christian SIODMAK, business strategist, owner and CEO of SBC at email@example.com. Many thanks.