Sumitomo, BRG Group form JV for $4bn smart city project

Sumitomo, BRG Group form JV for $4bn smart city project
Illustrative image of Phase 1 (surrounded by red dotted line) Image: Courtesy of Sumitomo Corp.

Japanese Sumitomo Corporation and Vietnamese BRG Group have established a joint venture, a real estate development company, for the purpose of building a smart city with a total value of more than US$ 4 billion, spanning 272 hectares in the Dong Anh district in Northern Hanoi, Vietnam.

The Project site lies to the north of Nhat Tan Bridge located halfway between Noi Bai International Airport and the center of Hanoi City. The project is divided into five phases and Sumitomo Corporation will develop the residential area with BRG in the first phase. Office buildings and large commercial facilities will be constructed in the second phase.

The smart city project will commence after obtaining approval from Hanoi City for a partial revision to their master plan.

There is a Hanoi Metro Line 2 extending plan from downtown Hanoi, through the Project area, to Noi Bai International Airport and a new station is planned to build within the Project area. Sumitomo Corporation will implement the Project considering a transit-oriented development (TOD) centered on the new station.

Location of the Development site

The Project area will be composed of hospitals, schools, disaster prevention facilities, security systems and commercial facilities, as well as lush greenery, water passage, and a Main Street lined with cherry blossom trees, and realize comfortable residential environment and community.

In addition, by introducing 5G, face recognition system and blockchain technologies, the area will feature sophisticated smart city services, contributing to the sustainable development of Hanoi City.