Hanoi is considering building an outlet mall on both sides of the Nhat Tan – Noi Bai Highway.

The view of the Nhat Tan - Noi Bai Highway. Photo: Pham Hung/The Hanoi Times

The outlet mall will cover an area of 811.57 hectares along the highway that connects the city to the Noi Bai International Airport. If built, it will be the first of its kind in Vietnam.

The municipal departments of Industry and Trade, and Planning and Architecture also proposed building the second outlet mall in Soc Son or Thanh Tri districts.

An outlet mall offering high-end products whose prices can be discounted by up to 33% will attract customers interested in buying old-fashioned, low-priced items.

According to the Hanoi Department of Industry and Trade, the outlet is a new type of shopping center in Vietnam.

There have been no regulatory documents on this type of business. The municipal department expects outlet malls to boost the city's socio-economic growth once they operate properly.

The construction of several outlet malls is one of the targets set by the Hanoi Party Committee in the Program 03-CTr/TU that focuses on urban planning and development in 2021-2025.

In 2022, Hanoi fundamentally accomplished the target of building several major shopping malls, including the Vin Ocean Park shopping center in Gia Lam District and the Vinsmart City shopping center in Nam Tu Liem District.

The city's authorities are taking measures to boost the construction of several other shopping malls, including the Aeon Mall Hoang Mai in Hoang Mai District and Lotte Mall in Tay Ho District.

Hanoi is also preparing to build a financial center in Dong Anh District, covering an area of 13 hectares. For the time being, the municipal authorities are compensating and resettling local residents living in the area of the building.

The construction of the Dng Anh financial center is scheduled to start in November 2023.