Posted on September 9, 2026
On September 4th, at the Government headquarters, Deputy Prime Minister Ho Quoc Dung chaired a meeting on the plan to restore degraded, depleted, and polluted water sources in the Bac Hung Hai, Nhue-Day, and Ngu Huyen Khe rivers.
At the meeting, the progress of the projects was updated. Regarding the Nhuệ River project, the city is currently developing an investment plan and is determined to begin construction around November 2026.
Earlier, in mid-July, the Hanoi City People’s Council approved a Resolution approving the investment policy for the project to construct, repair, and reinforce the dike system, dredge, and treat environmental pollution in the Nhuệ River using the public-private partnership (PPP) method, specifically a build-transfer (BT) contract.
The project has a preliminary total investment of VND 75,115 billion and will be implemented in the period 2026-2029. According to the plan submitted by Hanoi before the investment policy was approved, the Hanoi People’s Committee proposed selecting Geleximco Group as the investor under a special case.
The project’s scope stretches along the Nhuệ River, from the Liên Mạc sluice gate to the end of Hanoi’s territory. The total land area used is approximately 855 hectares, passing through the administrative boundaries of 19 communes and wards.
According to the plan submitted by the Hanoi People’s Committee to the City People’s Council, the project consists of four components: land clearance; renovation, dredging, embankment construction and building works along the route; construction of roads, technical infrastructure, and collection culverts on both sides of the river; and construction of wastewater treatment plants according to the plan.
Regarding the preliminary payment plan, the People’s Committee of Ho Chi Minh City stated that it plans to use reciprocal land funds with existing zoning plans totaling over 218 hectares, including: 117 hectares in Son Dong and An Khanh communes; 100 hectares in Yen Nghia ward; and approximately 1.5 hectares in lot CT5, Giao Luu City Urban Area.
In addition, the city plans to allocate approximately 135 hectares of land under the Hanoi Capital City Planning with a 100-year vision, including: 20 hectares of urban area along National Highway 32; 20 hectares of urban area along Ho Tay – Ba Vi Boulevard; 95 hectares of land at the Lien Mac sluice gate; and other land plots expected to be reclaimed along both sides of the river when the project is implemented.
The total value of the land fund expected to be used for payment is over 69,100 billion VND . According to the Hanoi People’s Committee, this is only the land fund being studied to determine the payment plan. This land fund will continue to be reviewed and specifically identified in the next phase to ensure a balance of interests between the State and the investor, while minimizing interest costs during project implementation.
Regarding Geleximco Group, the company was founded in 1993 by Mr. Vu Van Tien. The group operates in multiple sectors including industry, real estate, finance and banking, commercial services, and transportation infrastructure.
In the real estate sector, Geleximco currently owns a portfolio of large-scale urban areas, residential areas, and apartment complexes in Hanoi and several other localities. Some notable projects include Geleximco Le Trong Tan Urban Area, Thanh Pho Giao Luu Urban Area, Gelexia Riverside on Tam Trinh Street, and Geleximco Southern Star on Giai Phong Street.
Besides the Nhuệ River project, Hanoi is also implementing a plan to invest in environmental pollution treatment for the Cầu Bây River, part of the Bắc Hưng Hải system. The Hanoi People’s Council has approved the investment plan for the project with a total investment of 11,000 billion VND under the PPP model, specifically a BT contract. Hanoi aims to commence this project in September 2026.
