HÀ NỘI — Hà Nội’s People’s Committee has approved Mai Linh Joint Stock Company’s investment in a big trade centre and apartment complex in Nam Từ Liên district’s Mễ Trì and Phú Đô ward, according to Đầu Tư  (Investment) online newspaper.

The  VNĐ4.4 trillion (US$195 million) Golden Palace A project will be located on 20.6 hectares, comprising of an amusement park, a school complex and two trade-apartment buildings.

The amusement park, which will begin construction in the first quarter of 2017 and finish in the fourth quarter of 2018, will cover about 14.4 hectares, providing entertainment space and services for area residents.

The school complex, constructed in the first quarter of 2017 and completed in the fourth quarter of 2021, will span an area of ​​about 1.5 hectares, comprising of a high school, a secondary school and a kindergarten.

The trading and apartment complex, covering an area of 2.5 hectares, will comprise of three 30-plus-storey buildings with over 1,700 apartments, together with commercial centres and offices.

In addition, the project will have another 5-storey building, better known as shophouse, spanning nearly 5,400 metre squares, comprising of 22 apartments.

According to local media, Golden Palace A was formerly owned by the PetroVietnam Construction Joint Stock Corporation (PVC). According to the original design, PVC expected to build a $1 billion 102-storey tower, which once in place would have been the country’s tallest structure.

However, in July 2015, Hà Nội People’s Committee officially appointed Mai Linh Investment JSC as the project’s new investor. And at the same time, the project was renamed "Golden Palace A". — VNS