Hanoi’s AIC Urban Area Gets New Commercial Name; Investment Exceeds VND 13 Trillion
After years of delays, Hanoi’s AIC Urban Area in Mê Linh has advanced its investment, environmental and land procedures. Its commercial name is now Diamond Flora, and the company allocated the land has changed its name. The project is scheduled for implementation from the second quarter of 2026 to the third quarter of 2028, with total investment exceeding VND 13.181 trillion.
Hanoi recently approved an adjustment to the investment policy for the AIC Urban Area in Mê Linh. On November 6, 2026, the city’s agriculture and environment department approved the appraisal results for the project’s environmental impact assessment report. On November 10, the city government amended parts of the 2008 decision on the project’s first land allocation.
Under the land allocation decision, the project retains the name AIC Urban Area but has adopted Diamond Flora as its commercial name. The company allocated the land has changed from Công ty CP Bất động sản AIC to Công ty CP đầu tư Bất động sản Hoa Thủ Đô. The adjusted land allocation exceeds 89.5 hectares, including more than 38.8 hectares of urban residential land subject to land use fees. More than 6.5 hectares for commercial services, schools and other uses are subject to annual rent.
The AIC Urban Area in Hanoi’s Mê Linh area has adopted Diamond Flora as its commercial name.（VietVance）
A further 35.64 hectares of green space and transport land have been allocated without land use fees. Another 8.56 hectares where site clearance has been completed have also been allocated without land use fees. The project previously progressed slowly, partly because its land area overlapped with another housing project. It also underwent inspections in 2019 and 2021. Hanoi approved an adjustment to the project’s investment policy in April 2022 and an adjustment to the detailed plan for some plots in April 2026.
An environmental impact assessment document circulated for consultation in June 2026 shows that the project covers more than 93.9 hectares and is planned for a population of 26,000. The plan includes approximately 76.4 hectares of residential unit land and mixed-use plots for commercial premises, hotels, offices and apartments with buildings up to 32 stories high. The project is scheduled for implementation from the second quarter of 2026 to the third quarter of 2028, with construction expected to be completed between the third quarter of 2028 and the second quarter of 2029. Total investment exceeds VND 13.181 trillion.
Source: VietVance
