A project to build a new urban area named Kim Van-Kim Lu in Hoang Mai district, Hanoi has just passed by the Hanoi People’s Committee, according to Director of Vinaconex 2 Do Trong Quynh.

The town will be located on the third road belt of Hanoi, 1 km away from the junction between Khuat Duy Tien and Nguyen Trai with a total area of some 27 ha.

The project that costs nearly VND 1,500 billion will spend VND 386.2 billion in restoring sites for construction and erecting synchronic infrastructure, and invest the rest in construction of 6 high-class apartment buildings, 3 office and trade towers and 3 buildings for low-income people.

According to the investors, the company will pay special attention to sub-projects like school systems, a cultural house, sport and entertainment facilities.

The project is expected to kick off in the first quarter of 2010 and will finish in 5 years’ time.