A closer look at the 'diamond' plot of land near Hoan Kiem Lake that received 400 billion VND in compensation.

A household owning over 400m² of land on Dinh Tien Hoang street frontage was compensated approximately 400 billion VND to relocate and make way for the square and park east of Hoan Kiem Lake.

The area east of Hoan Kiem Lake covers approximately 2.14 hectares, bordered to the west by the lake and Dinh Tien Hoang Street, to the north by a residential area, to the east by Ly Thai To Street, and to the south by Tran Nguyen Han Street. This land is planned to be developed into a square and park east of Hoan Kiem Lake, creating a green space along the lake, serving community activities and hosting cultural, artistic, and exhibition events.

The land acquisition area for the project includes 47 land users, of which 12 are organizations and agencies and 35 are households. In December, the Hoan Kiem Ward People's Committee approved the compensation, support, and resettlement plan for 25 households; of which 20 households have received the money. The remaining cases are being processed according to regulations.

Notably, a plot of land on Dinh Tien Hoang Street was compensated with approximately 400 billion VND for relocation, to serve the investment project of building a square and park east of Hoan Kiem Lake.

According to our investigation, the land in question is located at numbers 63, 65, and 67 Dinh Tien Hoang Street, with a frontage of over 15 meters, and is currently divided into many commercial stalls.

The plot of land, spanning over 400 m², has two land ownership certificates and faces directly onto Hoan Kiem Lake, considered a rare "golden land, diamond land" in the capital.

After working with the Hoan Kiem Ward People's Committee, the family has agreed to a compensation plan of approximately 400 billion VND and expects to receive the money within the next 10 days.

Along with being subject to relocation for the construction of the square and park east of Hoan Kiem Lake, many large plots of land with attractive frontages currently operating as hotels on Ly Thai To Street have also caused public uproar as the compensation amounts have not yet been announced.

The 10-story hotel at 26 Ly Thai To Street, built in 2019, only opened in early April 2025. According to our research, the hotel has approximately 52 rooms.

From the hotel, locals and tourists can reach tourist attractions around Hoan Kiem Lake in just about a 5-minute walk.

This hotel has two access points: the main entrance on Ly Thai To Street and a secondary entrance at the back leading to Alley 61 Dinh Tien Hoang.

According to surveys on real estate websites, land prices on Ly Thai To street currently fluctuate around 1 billion VND/m², making the estimated value of this 10-story hotel reach hundreds of billions of VND.

Not far from there is a hotel located at 32 Ly Thai To Street, right next to the intersection of Ly Thai To and Tran Nguyen Han streets.

According to the Hoan Kiem Ward People's Committee, 33 out of 43 households have agreed to the compensation and relocation plan; the remaining 10 households are still being persuaded. The city is applying a special compensation and support policy, arranging resettlement in Dong Anh, Viet Hung, or the Thuong Thanh resettlement area, in order to ensure the project's progress and protect the rights of the people.

Currently, the first phase (stage 1) of the Hoan Kiem Lake East Square and Park construction project is carrying out the demolition of 7 offices and organizations within the project area, including: the Population, Children and Social Evils Prevention Department, the Hanoi City People's Committee Office, the Hanoi Association of the Blind, the Hanoi Golden Heart Charity Association, and the State Treasury transaction office.

The project to build a square and park east of Hoan Kiem Lake is invested in by the Hoan Kiem Ward People's Committee, with a scale of approximately 2.14 hectares.

Phase 1 focuses on compensation, support, and resettlement on an area of ​​approximately 21,151 m², while also investing in a public square, green spaces, technical infrastructure, parking lots, lighting, Wi-Fi, and security cameras.

Phase 2 involves developing an underground space of approximately three levels, directly connected to station C9 of metro line 2 (Nam Thang Long - Tran Hung Dao), serving multiple functions including culture, services, and commerce.

Phase 1 is expected to be completed in 2026.

Source: https://baolangson.vn/can-canh-khu-dat-kim-cuong-ven-ho-hoan-kiem-duoc-den-bu-400-ty-dong-5068507.html