TASECO GROUP – TASECO LAND CONSORTIUM BREAKS GROUND ON THE PHUNG HUNG 131 RAILWAY ARCHES PROJECT

The event featured a total of 18 projects with a combined investment of approximately VND 127.46 trillion, including four projects inaugurated or technically opened to traffic and 14 projects breaking ground.

Among the projects launched on this occasion is the Cultural, Service, Commercial and Tourism Space Development Project at the 131 Railway Arches South of Long Bien Bridge (Phung Hung – Gam Cau), located in Hoan Kiem Ward, Hanoi.

The project will be undertaken by a consortium comprising Taseco Group Joint Stock Company and Taseco Real Estate Investment Joint Stock Company (Taseco Land) under a public–private partnership (PPP) model, with a Build–Operate–Transfer (BOT) contract currently envisaged.

The project aims to establish a new cultural, service, commercial, and tourism destination in the historic heart of Hanoi. It also seeks to advance the city's vision for developing its urban and nighttime economies while creating an integrated pedestrian precinct that combines urban heritage preservation with tourism, service, and commercial development. The project is expected to become operational in the fourth quarter of 2027.

Strategically located along the Phung Hung – Gam Cau corridor, connecting Hanoi's Old Quarter, Long Bien Railway Station, Long Bien Bridge, and the Red River, the project is expected to revitalize the more than century-old railway arches, bringing their historical significance into contemporary urban life. It also aims to create a vibrant destination for culture, arts, gastronomy, and entertainment, offering new experiences for residents and visitors to Hanoi.

The Taseco Group – Taseco Land Consortium is committed to working closely with the Hanoi municipal authorities and relevant agencies throughout the project's implementation, with the shared goals of preserving heritage values, enhancing the quality of public spaces, and contributing to the capital's sustainable cultural and tourism development.