DNVN - A representative of the Hanoi Department of Transport confirmed that the preparation stage of projects such as Tu Lien and Tran Hung Dao bridges has not yet been completed and a detailed roadmap must be prepared. This information is expected to impact the real estate market in the Dong Anh area in the short term.
Tu Lien bridge will not be built in 2024
In response to a series of information on social networks and some other information channels about Hanoi starting construction of Tu Lien Bridge at the end of 2024, Mr. Phan Truong Thanh - Head of Planning and Finance Department (Hanoi Department of Transport) said that Tu Lien Bridge is an important traffic project within Program 03 - CTr/TU of the Hanoi Party Committee on urban embellishment, urban development and urban economy of Hanoi City in the period of 2021 - 2025. Recently, the Department of Transport has coordinated with the Pacific Group to study the investment project to build Tu Lien Bridge under the PPP (public-private partnership) form.
The technical plan shows that Tu Lien bridge connects Dong Anh district and Tay Ho district with a total length of 11.5km. The main bridge and the approach roads at both ends of the bridge are about 5.5km long; the connecting road to the bridge in Dong Anh district is about 6km long, with a total estimated investment of 22,000 billion VND.
Perspective of Tu Lien bridge.
It is expected that the Department of Transport and the Hanoi Traffic Construction Investment Project Management Board will implement the main bridge and the approach roads at both ends of the bridge. Dong Anh District will be the investor of the section from National Highway 5 to the Hanoi - Thai Nguyen Expressway.
However, as of September 2024, the Hanoi People's Committee has just announced to hand over the project to the Department of Planning and Investment to research and advise the city to convert this project to public investment form, but has not yet officially assigned the task.
Regarding the project progress, Mr. Phan Truong Thanh once again affirmed that Hanoi is focusing all its efforts on the Ring Road 4 - Capital Region project, so the capital source for the Tu Lien Bridge investment has not been determined at this time. The Tu Lien Bridge project may be even slower due to many issues that need to be studied and prepared.
In addition, through technical surveys, the construction work is also related to ensuring the safety of the Red River dike; large volume of site clearance, especially the bridgehead area in Tay Ho district. Specific technical plans and basic designs are needed... These are difficult issues for Hanoi's professional agencies.
Regarding the feasibility of the Tu Lien bridge project, Hanoi city is simultaneously implementing many large projects such as Me So bridge, Hong Ha (on Ring Road 4), Van Phuc, Ngoc Hoi, Thuong Cat..., whichever project completes investment preparation first will be implemented first to effectively utilize capital resources.
Especially after storm Yagi, Hanoi is having to focus on handling a series of weak and temporary bridge projects, so projects such as Tu Lien and Tran Hung Dao bridges... have not yet completed their investment preparation stages. The construction of new bridges must have a carefully calculated roadmap because the projects are using budget capital.
Big impact on the real estate market in Dong Anh area in the short term
Immediately after the representative of the Hanoi Department of Transport spoke up to confirm that projects such as Tu Lien Bridge, Tran Hung Dao... were not yet completed in the investment preparation stage, the reality quickly affected the psychology of real estate investors in the Dong Anh area, which has been very "hot" in the past few months, especially investors who are interested in a large project, Vinhomes Co Loa of Vingroup, with a selling price of up to several hundred million VND/m2.
Specifically, Tu Lien Bridge, although not part of the Vinhomes Co Loa project, is considered a big "boost" for the entire project. Tu Lien Bridge project has a strong location when it is built at the intersection of the Red River and the Duong River, helping to create favorable conditions for Vingroup's "super project" to become a breakthrough, used by many brokers to advertise on social networks as well as many information channels to attract people who want to buy real estate.
When Tu Lien Bridge is completed, it will shorten the distance from Dong Anh to the city center via Nghi Tam (Tay Ho), travel time will be only about 10 minutes, creating a vital traffic system, connecting many key areas. At the same time, future residents will also have easy access to the synchronous utility system in the central area.
It can be seen that Tu Lien bridge plays a very important role in contributing to the success of the entire project. The delay will significantly affect the psychology of investors considering "putting money" in the Dong Anh area.
According to a real estate expert, the fact that Hanoi city has not built Tu Lien bridge in the short term will affect the real estate market in Dong Anh area in several aspects:
Limited traffic connection: Tu Lien Bridge is expected to connect Dong Anh area with the center of Hanoi, helping to reduce traffic pressure and shorten travel time. When the bridge is not built, residents and investors in Dong Anh will have difficulty moving into the city center, especially during rush hour, they will still have to take a detour with old bridges quite far away. This will hinder the attraction of residents with real demand to buy to live instead of "just 10 minutes" as expected.
Slow development of surrounding infrastructure: Large infrastructure projects such as Tu Lien Bridge often stimulate economic and real estate development in the area. Failure to build the bridge may slow down the construction progress of other utilities and surrounding ancillary projects, reducing the real estate value of this area compared to its true potential.
At the same time, real estate values in the East of England may be affected due to the lack of direct connection with other developed areas of Hanoi. Investors often expect infrastructure to be completed quickly to increase property value, but with the Tu Lien Bridge being delayed, the possibility of price increases may slow down.
“In general, those who intend to invest or buy a house here may be affected by concerns about the lack of transport connections. This may cause demand for real estate in the project to temporarily decrease until the transport infrastructure, especially Tu Lien bridge, is built,” the expert affirmed.
Nguyen Hoang
Source: https://doanhnghiepvn.vn/kinh-te/bat-dong-san/so-giao-thong-van-tai-ha-noi-thong-tin-ve-viec-xay-cau-tu-lien/20240930091854850
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