According to Lao Dong on September 3, the land at 220 Tran Duy Hung Street was once expected to become an international financial tower (IFT), a symbol of the development of the West of Hanoi, but is now just an abandoned landfill not covered with weeds.
The land is located in a prime location next to the intersection of Tran Duy Hung - Nguyen Chanh streets and adjacent to the elevated Ring Road 3, Thang Long Avenue, but has been surrounded by corrugated iron for many years.
Inside the project, overgrown with trees, turning this place into a spontaneous dumping site for waste, causing chaos and environmental pollution.
It is known that since 2005, the Hanoi People's Committee has approved the project to build an international financial tower invested by Bao Viet Life Corporation, with a scale of 34 floors above ground, 3 basements, maximum height of 150m, total investment of about 3,800 billion VND.
The project is expected to become a modern commercial, service and office complex, meeting the rapid development needs of the western area of Hanoi.
People living around the project land area said that after two decades, instead of a skyscraper on an area of over 13,000m2, there are now only 23m high trees and weeds, surpassing the corrugated iron fence.
"The surrounding sidewalk is used as a parking lot, while the land inside becomes a forest in the heart of the city. We have repeatedly reported this situation to the local authorities but have not had any results, said Mr. Le Tuan Anh (residing in the Nguyen Chanh Street area).
In the context of Hanoi lacking land funds to develop high-quality offices and modern shopping centers, a golden land abandoned for two decades is a great waste.
Regarding this project, Deputy Head of the Department of Infrastructure Economics and Urban Areas of Yen Hoa Ward, Nguyen Manh Hung said that the local government has invited investors to work, and at the same time recommended that competent authorities remove obstacles, promptly implement the project to avoid waste and meet the needs of urban development.
The project's slow implementation and abandoned golden land for many years not only lose the opportunity to generate revenue and create architectural highlights for the gateway area of the capital, but the project also slows down the process of synchronous infrastructure development in the area with the fastest urbanization rate in Hanoi.
