Daewoo E&C Breaks Ground on Hanoi Starlake Mixed-Use Development Project in 'Vietnam's Gangnam'

Construction of Hotel 1 Building and Office 1 Building

Aerial View of Hanoi Star Lake New City B3CC1

Daewoo E&C announced on the 28th that it broke ground on the B3CC1 project of the complex development business in Starlake New City, Hanoi, the capital of Vietnam, on the 26th. B3CC1 is a complex development project with a total floor area of 211,462m² (63,967 pyeong) spanning from three basement floors to 35 above-ground floors, planned to include one hotel building and one office building. The total project cost is approximately 500 million USD.

Starlake City in Hanoi, Vietnam, is a mega urban development project promoted by Daewoo E&C with the goal of building the "Gangnam of Hanoi." The purpose of this project is to decentralize the functions of Hanoi's old downtown and establish balanced urban infrastructure.

The site covers an area of 1,863,000m², about two-thirds the size of Yeouido, with a total project cost reaching 2.2 billion USD (approximately 3.12 trillion KRW). Of the entire project site, besides residential land, a total of 386,000m² will be developed into commercial, office, and mixed-use land.

Daewoo E&C is developing the site either by direct development or by recruiting investors to sell the land. For commercial land, sales have been completed targeting domestic large corporations such as Samsung Electronics and CJ, as well as local Vietnamese companies.

Groundbreaking Ceremony

The B3CC1 site, located in the core area of Hanoi Starlake City, is adjacent to Noi Bai International Airport and the embassy district, and with the Vietnamese government ministries planned to relocate within Starlake New City, demand for office and business accommodation facilities is expected to be generated in the future.

In particular, the hotel with 540 rooms to be built in B3CC1 will be operated under consignment by Hotel Shilla, and the 5-star hotel brand "SHILLA MONOGRAM" will make its first entry into Hanoi.

The groundbreaking ceremony was attended by about 100 people, including Baek Jeong-wan, President of Daewoo E&C; Nguyen Trong Dong, Vice Mayor of Hanoi; officials from the Ministry of Foreign Affairs; Woo Sang-hyun, Vice President of KB Kookmin Bank; Jang Hyun-seok, CEO of JR Investment Management; representatives from KDB Industrial Bank, KB Securities, Busan Bank, and Woori Bank.

In his commemorative speech, President Baek Jeong-wan said, "The B3CC1 complex development project is located in a prime site within Starlake New City and will feature Grade A offices and a 5-star hotel service residence, becoming a landmark in the area."

This content was produced with the assistance of AI translation services.