With total investment of about VND30.15 trillion ($1.16 billion), the project is being implemented under a public-private partnership (PPP) model using a build-transfer (BT) contract, with Sun Group subsidiary Sun City Co., Ltd. as the investor.

The event marks the start of a redevelopment of the historic area, aimed at unlocking its economic and cultural potential and shaping the capital’s urban landscape under a 100-year planning vision, with West Lake positioned as an economic, cultural, tourism and diplomatic hub of Hanoi.

Speaking at the event, Tran Minh Son, a member of Sun Group’s founding council and standing vice chairman, said West Lake is a heritage site of Hanoi but has not previously had a project of sufficient scale to renovate its landscape and promote its value.

“Sun Group is committed to following the city’s direction and turning West Lake into a distinctive tourism destination, allowing Hanoi residents and visitors to access, experience and enjoy more fully the unique landscape and cultural values of the area,” the executive said.

Covering a study area of about 567.75 hectares, the project will retain the existing 520.90 hectares of West Lake’s water surface and involve about 46.85 hectares of land, including smaller lakes. It will focus on comprehensively upgrading the transport and landscape systems, green parks, public spaces, and cultural and entertainment facilities.

Based on a philosophy of preserving and promoting the layers of Thang Long’s cultural heritage, the project is built around the concept of “Re-hug the Lake”, creating a circle of multiple connection points to make it easier for residents and visitors to access the lake ecosystem and bring West Lake’s heritage beauty more vividly into contemporary life.

A key component is the renovation of the 13.5-kilometer lakeside road, creating a continuous route around the lake through Nguyen Dinh Thi, Trich Sai, Ve Ho and Nhat Chieu streets, as well as parts of Quang Ba, Quang Khanh and Quang An.

The road expansion has been carefully studied to avoid encroaching on existing residential areas. The project will use elevated structures combined with landscaped decks and pedestrian bridges extending over the lake, creating additional spaces for sightseeing and walking while preserving West Lake’s characteristic curved shoreline.

It also includes plans for a “Greenway” corridor connecting squares, landscape bridges, parks, historical sites, ancient villages, the Guest House of the Party Central Committee and the Hanoi Opera House.

A major shift in the project is to treat West Lake’s water surface as an active space rather than simply a backdrop. The project will therefore expand access by both land and water and make greater use of the lake through a newly developed system of water transport piers.

Wastewater control and treatment will be closely monitored to protect water quality and restore the clean appearance of the lake.

Residents and visitors will also have access to new cultural, artistic and entertainment activities under the “Living Heritage” concept. West Lake’s cultural values, from traditional crafts and festivals to cuisine and community memories, will be brought back to life and retold through contemporary forms, including art programs, exhibitions, fireworks displays, music, water shows and light performances on special occasions in the capital.

The project aims not only to preserve the heritage but also to keep it vibrant in modern life, creating new appeal for tourism while promoting Hanoi’s night-time economy and cultural industries.

With integrated infrastructure and a multi-layered culture-entertainment-event ecosystem, West Lake is expected to become a focal point for tourism, the night-time economy and the creative economy, turning its landscape and heritage values into new drivers of growth for the capital.

Under Hanoi’s 100-year master planning vision, recently detailed through the city's Plan No. 331/KH-UBND, the Politburo's Resolution No. 15-NQ/TW, the Hanoi Capital Master Plan through 2065, and the project for preserving and promoting the value of West Lake and surrounding areas, West Lake has been positioned as a core element of the strategy to restructure the historic core urban center.

As the central urban area shifts toward a green and sustainable development model combined with heritage preservation, the West Lake investment, renovation and value promotion project is a pioneering step in gradually repositioning the entire heritage area as a new growth pole for services, high-quality tourism, and cultural industries.

In particular, the project will serve as a key link between two strategic development corridors with a century-long vision: the West Lake-Co Loa-Gia Binh Airport radial corridor, opening new opportunities for diplomacy and economic development in the northeast; and the Thang Long Boulevard/West Lake-Ba Vi corridor, which will serve as a driver of the knowledge economy and connect the two cultural centers of Thang Long and Doai Region.

Alongside the Hoan Kiem Lake area, West Lake is being positioned as a tourism center for the capital and one of four core tourism development drivers aimed at elevating Hanoi into a renowned cultural destination in the region and globally.

The project is expected to provide a strategic launchpad for West Lake’s next phase of development, bringing its millennia-old heritage values together with contemporary life and helping turn Hanoi into an international cultural destination and modern megacity.