New progress in the 300,000 billion VND Red River Boulevard

Perspective of the Boulevard Project - Red River Landscape.

Over the past several years, the Hanoi city government and urban planning experts have been continuously seeking solutions for a modern city facing the Red River.

Many studies have been initiated by domestic and international organizations, but they have stalled due to difficult challenges: flood control, funding, environmental protection, and operational management.

However, the Hanoi Capital City Planning for the period 2021–2030, with a vision to 2050 (approved in 2024), has redefined the "foundation" by identifying the Red River as the central green axis, landscape axis, heritage- tourism -service space, connecting the capital with the Red River Delta region. The remaining issue is translating this orientation into concrete steps.

Miracle on the Red River

In that context, the Deo Ca Group - Van Phu Invest Joint Venture was approved by the Hanoi People's Committee in document No. 8843/VP-DT dated June 13, 2025.

After more than two months of research, on August 20, 2025, based on feedback from departments, agencies, and city leaders, the consortium of investors reported the preliminary research results to the Hanoi People's Committee.

Accordingly, with a total projected investment of 300,000 billion VND, the project will invest in a highway with a total length of up to 80 km, running along both banks of the river from Hong Ha Bridge to Me So Bridge.

This boulevard will include 67 km of modern elevated bridges, 10 km of underpasses with 6 lanes. Along with that, there will be a monorail line with a total length of approximately 84 km, including about 82 km of elevated bridges and 2 km of underpasses.

In addition, the project includes 3,300 hectares for the development of green spaces, 8 parks, and public areas, transforming the riverside area into a unique landscape highlight serving tourism and service industries.

Regarding the implementation method, the consortium of investors is researching and proposing adjustments to the Red River urban zoning plan, dividing it into three independent projects: a public investment project for land clearance implemented by the Hanoi People's Committee; a PPP project (BT contract type) for the Red River Boulevard and Landscape; and a PPP project (BT contract type) for the Red River Monorail.

The consortium of investors was assigned by the Hanoi People's Committee to begin construction in January 2026 to celebrate the 14th Party Congress and complete it before 2030.

According to Mr. Le Quynh Mai, Vice Chairman of Deo Ca Group, in June 2025, the consortium of investors proposing the project conducted a field survey in Chongqing (China) to learn about the infrastructure system along the Yangtze River and Jialing River.

This city has implemented flood control solutions, successfully treating urban wastewater discharged into the river, and particularly excelled in developing a multimodal transportation system encompassing roads, inland railways, waterways, and connections to regional airports. River floodplains have been transformed into landscaped parks or recreational areas with intelligent flood management solutions through a pumping system that ensures the appropriate use of river infrastructure at different times of high or low water levels.

“In addition, we also referenced typical riverside urban development models around the world , paying particular attention to the ‘Miracle on the Han River’ in Seoul (South Korea), in order to supplement the research basis and implementation organization by referring to South Korea’s planning, investment management, environmental management, and urban transport connectivity to apply to infrastructure projects along the Red River,” said Mr. Le Quynh Mai.

Regarding construction solutions, the consulting unit proposed a viaduct solution outside the dike combined with an underpass system (applying TBM excavation technology) to ensure seamless road connection without affecting existing historical structures, developing a multimodal transport network (road, waterway, urban rail and Noi Bai, Gia Binh airports, etc.), ensuring safety and convenience at grade-separated intersections, and especially developing green spaces to preserve nature, maintain the cultural and civilizational heritage of the Red River and existing historical structures.

Regarding financial solutions, the project, being a large-scale PPP investment, requires optimal financial solutions. Deo Ca Group will collaborate with real estate development companies and leading banks to create a "circular ecosystem" to provide a feasible financial plan for the project.

The project's revenue streams will not only come from land but also from other related services such as parks, playgrounds, and underground parking, aiming to diversify social resources and reduce the burden on the state budget.

More big names join the fray.

On August 19th, MIK Group Vietnam Joint Stock Company (MIK Group) issued document No. 159-1/2025/CV/MG-PTDA1 regarding its participation in the proposal development for the Red River Boulevard - Landscape Project, aiming to maximize the company's capabilities and strengths to contribute to the overall success of the Project.

MIK Group affirms its commitment to working closely with its partners in the consortium, and is ready to mobilize its maximum resources in terms of finance, human resources, and experience to help the consortium bring the project to completion.

On the same day, Vietnam Prosperity Commercial Bank (VPBank) also issued document No. 172/2025/HĐQT-VPB(CMB) proposing to the Hanoi People's Committee to act as the lead arranger for credit provision to implement the Red River Boulevard - Landscape Project.

With the participation of experienced enterprises in the implementation of large-scale transportation infrastructure such as Deo Ca Group, the combined efforts of leading real estate developers such as Van Phu and MIK Group, and the financing support from VPBank, the Red River Boulevard - Landscape Project is expected to commence soon, creating a "Red River Miracle" for the country in this era of progress.

Earlier, during his participation in the Shanghai Cooperation Organization (SCO) Summit and working visit to China on the morning of August 31st in Tianjin, Prime Minister Pham Minh Chinh held meetings with leading Chinese corporations.

With Hua Tie Engineering Group – the third-largest brand in China and 15th-largest globally in infrastructure design consulting – the Prime Minister welcomed the comprehensive cooperation between Hua Tie Engineering Group in China and Deo Ca Group, especially in the research and design of the Red River Boulevard and Riverside Landscape project.

At the event, Mr. Duong Ve Dong, Chairman of Hoa Thiet Group, stated: "We believe that with Deo Ca's strong capabilities and experience, and the technical support Hoa Thiet has accumulated, both sides can contribute to the development of transportation infrastructure in Vietnam."

Hoa Thiet Design Group affirmed its commitment and preparation to collaborate with Deo Ca Group in researching optimal solutions for Deo Ca Group's projects, with a particular focus on the Red River Boulevard and Landscape Project. The Prime Minister expressed his hope that this international cooperation would contribute to realizing the "Red River miracle."

Source: https://baodautu.vn/buoc-tien-moi-tai-du-an-dai-lo---canh-quan-song-hong-von-300000-ty-dong-d383888.html