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HANOI – The Hanoi People's Committee recently issued a decision to allocate 69,361.2 square meters of land to THT Development Co., Ltd. for the implementation of the second phase of the Tay Ho Tay urban area's central district project.

In this land allocation, a 14,657 sqm plot, designated K2HH1, is slated for a mixed-use complex featuring public services, commercial spaces, and high-end residences. Approximately 27,769 sqm at plot K2CT1 will be used for the construction of a high-rise residential area.

[Image: A rendering of the Tay Ho Tay urban area.]

Additionally, nearly 8,000 sqm of land across plots designated C2TH1 and C2NT1 have been allocated by the city for the construction of a kindergarten and a primary school. Over 12,500 sqm have been assigned to the developer for building urban roads and infrastructure as per the approved plan.

The Tay Ho Tay urban area is commercially known as Starlake. The project boasts a prime location near the Diplomatic Corps area, Hoa Binh Park, and the capital's new administrative center—the site chosen by the government to house the headquarters of various ministries and agencies.

Currently, many apartment units in the Starlake urban area are listed for sale at over VND 130 million per square meter. In the villa segment, the prices are many times higher, ranging from VND 400 - 800 million per square meter.

The developer behind this urban area is THT Development Company, a South Korean entity. This company frequently transfers its component projects to secondary investors. Some of its "clients" at the Starlake project include Vietnam Asset Development JSC (VAD), Pacific Corporation, Edufit Education Group, and Dai Nam Tien Construction Investment JSC.

In late April 2025, the Starlake urban area was surprisingly included in a list of social housing investment projects in Document 4070/SXD-PTĐT issued by the Hanoi Department of Construction. According to the document, a social housing project for police officers and soldiers will be developed on three land plots—K4-TT1, C2-TT1, and C2-TT2—which fall under the 20% land fund of the Starlake urban area.

Source: Bao Dau Tu (Vietnam Investment Review)