Hanoi plans to allocate VND18 billion (US$705,000) from its budget to demolish the iconic Ham Ca Map (Shark Jaw) building in a bid to expand Dong Kinh-Nghia Thuc Square in Hoan Kiem District.
The Hoan Kiem People’s Committee has written to the Hanoi Department of Finance, outlining plans to expand and improve a public space near Hoan Kiem Lake.
The administration of the district proposed the city allocate its budget to cover the cost of tearing down the building, relocating any underground infrastructure, and restoring the area to ensure its infrastructure aligns with the overall aesthetic and layout of Hoan Kiem.
The district will serve as the investor of the project.
Additionally, the district also proposed being assigned to create a report on expanding the square.
The public space expansion and renovation plan will focus on an area of around 1.2 hectares, with the square itself bordered by several iconic locations.
To the north, it is designed to connect with Hang Gai and Cau Go Streets, while the southern boundary will touch Hoan Kiem Lake and Thuy Ta Building.
The eastern edge is defined by Ho Hoan Kiem Street, and the western side can border the Hong Van-Long Van Building.
On March 5, Hanoi authorities approved the concept and design for the square, including the demolition of the Shark Jaw building and the development of underground space.
The proposed underground development includes approximately three basement levels, with plans for cultural and commercial spaces on the first basement level and parking facilities on the second and third levels.
Ham Ca Map Building, built in 1990, houses cafés, restaurants, and shops at a strategic location facing Dong Kinh Nghia Thuc Square, Hoan Kiem Lake, and Cau Go Street.
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