VietinBank Tower under construction in Hà Nội. Authorities have warned that delayed projects risk land withdrawal or suspension if requirements are not met. — Photo vietnamnet.vn

HÀ NỘI — The People’s Committee of Hà Nội has set an April 30 deadline for investors behind delayed land-use projects to submit detailed progress reports, as authorities step up efforts to address stalled developments.

Under Notice No. 396/TB-UBND, issued on April 13, the municipal People’s Committee has ordered a comprehensive review of projects funded outside the State budget but involving land use. Investors must provide written updates on implementation status, financial capacity and a feasible completion timeline.

Projects that fail to meet the reporting deadline, submit incomplete information, or demonstrate insufficient capacity risk having their land withdrawn or their projects suspended.

The latest review covers 341 delayed projects, largely in housing and urban development, including several high-profile projects linked to major lenders such as Vietcombank, VietinBank and Vietnam Development Bank.

Among them is a commercial and office complex project in Cầu Giấy Ward tied to Vietcombank. The more than 5,000sq.m site at the intersection of Tôn Thất Thuyết, Trần Thái Tông and Phạm Văn Bạch streets was once expected to become a modern mixed-use development, but has remained unbuilt for 18 years despite repeated extensions.

A separate case involves the long-delayed VietinBank Tower project in Tây Hồ Ward. Launched in 2010 with total investment exceeding VNĐ10.2 trillion (US$388 million), the project has been left idle for more than a decade after completing its structural frame.

At its 2026 annual general meeting on April 24, a VietinBank board representative said the lender is nearing final legal steps to transfer the project. The bank expects to complete procedures and sign a transfer contract in the first half of 2026, with the price to be determined based on market conditions but not lower than total investment costs.

Meanwhile, the Vietnam Development Bank has also been flagged over a training and office complex project in the Cầu Giấy New Urban Area. The land, transferred to the bank in 2006, has yet to be developed despite proposals to build a headquarters on the site.

City authorities said the latest push is aimed at resolving prolonged delays, improving land-use efficiency and ensuring that investors meet their commitments. — BIZHUB/VNS