On the morning of November 11, 2024, Ricons, Newtecons, and SOL E&C held the commencement ceremony for Lumi Hanoi project. The event was attended by representatives from the investor, CapitaLand Development (Vietnam); the general contractors: Ricons, Newtecons, SOL E&C; the design consultant INNO; cost and contract consultant DLS Consultant; project management consultant TEXO; along with other partners, subcontractors, and suppliers involved in the project.
CapitaLand Development (CLD) is the real estate development arm of CapitaLand Group, with an investment portfolio valued at approximately SGD 21.9 billion as of September 30, 2024. CLD has extensive development expertise across a range of asset classes, including integrated projects, retail spaces, office complexes, residential areas, commercial hubs, industrial parks, logistics hubs, and data centers. CLD (Vietnam) oversees and expands CLD’s investment and development activities in Vietnam, one of its core markets, where the group has built a significant presence over the past 30 years.
Representatives of the Investor, Main Contractor, and Consulting Partners Performing the Commencement Ceremony
Lumi Hanoi was officially introduced to the market by CLD in November 2023. The project is situated in a well-planned area in western Hanoi, adjacent to various amenities such as parks, schools, shopping centers, healthcare facilities, and the new administrative center. Residents will find it convenient to access the project via Thang Long Avenue, with only a 20-minute drive to Hanoi’s central district and a 40-minute drive to Noi Bai International Airport.
Perspective of the Lumi Hanoi Project
The project aspires to create a community that harmonizes sustainability, sophistication, and tranquility, redefining urban living standards. Lumi Hanoi aims to achieve EDGE certification from IFC, a member of the World Bank Group. Sustainable features of the project include 4.3 hectares of green landscape, a rainwater collection system, ecological ponds, biotope zones, and charging stations for electric vehicles and bicycles.
The total development value of the project exceeds SGD 1 billion (VND 18 trillion), providing approximately 4,000 apartments across nine towers ranging from 29 to 35 stories. Lumi Hanoi offers various apartment types, from one-bedroom units of 42 sqm to four-bedroom units of 135 sqm. Duplex and penthouse units ranging from 115 sqm to 410 sqm will also be available within the project. Ricons, Newtecons, and SOL E&C will serve as the general contractors for the project, handling key tasks including structural work, finishing (basement and superstructure), lobby and corridor interior finishing, MEP systems, façade, infrastructure, landscape, and more.
Mr. Alwin Low, Representative of the Investor, Speaking at the Ceremony
Speaking at the commencement ceremony, Mr. Alwin Low, Northern Regional General Manager of CLD Vietnam, highlighted the positive impact that the Lumi Hanoi project has had on the real estate market. Within just seven months of its launch, the project achieved an absorption rate exceeding 99%. Mr. Alwin also emphasized the pivotal role of Ricons, Newtecons, and SOL E&C in realizing the project and contributing to the vision of exceptional living quality that Lumi Hanoi aims to provide its future residents.
Mr. Nguyen Ba Duong, Founder and Chairman of the Ecosystem
In response to the investor’s trust, Mr. Nguyen Ba Duong, Founder and Chairman of the Ecosystem, pledged that the project would be completed on schedule, meeting the highest standards of quality, safety, and sustainability. He also shared the ecosystem’s philosophy of prioritizing customer success. Mr. Nguyen Ba Duong expressed confidence that the partnership between the parties would continue to flourish in the future.
The ecosystem includes three general contractors (Ricons, Newtecons, SOL E&C), a façade contractor (BM Windows), an interior contractor (Boho Decor), and a design management company (DB), with over 3,000 employees, including foreign experts, BIM engineers, and a highly skilled team of engineers and architects, who will deliver high-quality projects to customers.
