Vinaconex Diamond Tower: A New Architectural Icon of Southern Hanoi

Vinaconex Diamond Tower project, also known as Cho Mo Commercial Center (TTTM Chợ Mơ), is a prominent multi-functional complex located in a strategic position, contributing to the creation of a civilized and modern urban appearance in the southern area of Hanoi. Built on the former Cho Mo market site, this project not only addresses urban development needs but also preserves and upgrades the traditional market, forming a unique integrated model of commerce – services – retail.

Overview of Vinaconex Diamond Tower Project

Vinaconex Diamond Tower is developed by VINACONEX - ALPHANAM Infrastructure Investment and Development JSC (Investor) and constructed by Vietnam Construction and Import-Export Corporation (Vinaconex). The project aims to become a high-rise complex including a supermarket, office spaces, and especially a modernized traditional market area.

Basic project information:

Project name: Vinaconex Diamond Tower (Cho Mo Commercial Center)
Location: 495C Bach Mai, Truong Dinh Ward, Hai Ba Trung District, Hanoi.
City/Province: Hanoi
Total area: 1.47 ha (14,713 m²)
Construction land area: 11,191 m²
Building density: 45%

The Vinaconex Diamond Tower project has been completed and put into operation, creating a vibrant space for business, work, and living, meeting the diverse and increasing needs of residents and visitors.

Prime Location on the Southern Development Axis

Vinaconex Diamond Tower is located at 459C Bach Mai Street, Truong Dinh Ward, Hai Ba Trung District, Hanoi. This is a strategic location in the central area of Hai Ba Trung District, easily connected to major transport routes and surrounding areas of the capital.

The geographical coordinates are Latitude 20.99690437 and Longitude 105.8502884. This area was formerly Cho Mo market, a well-known location with strong traditional commercial value. Building a high-rise complex here not only optimizes land use but also enhances urban value, creating a modern architectural landmark.

The convenient location makes Vinaconex Diamond Tower an ideal choice for businesses to set up offices and a shopping and entertainment destination for residents. Its proximity to a bustling residential area and flexible transport connectivity are outstanding advantages of the project.

Scale and Multi-Functional Design

Vinaconex Diamond Tower is designed as a connected high-rise complex with large scale and diverse functions, including:

One 15-story building.
One 25-story building.
Total construction floor area: 86,290 m² (excluding basement and technical floors).
Total initial investment: approximately 1,500 billion VND (reported figures vary between 1,055 and 1,500 billion VND across different phases).

The structure is clearly divided by usage purpose:

Commercial and Service Space (5 Podium Floors)

The 5 podium floors are dedicated to commercial services, including supermarkets and retail areas. This ensures high convenience for residents and customers, forming a vibrant shopping center.

Office and Rental Apartment Area (From 6th Floor Upwards)

From the 6th floor upward, functions are divided into two blocks:

Block facing Bach Mai – Minh Khai intersection: focused on office and service functions.
Inner block: used for serviced apartments serving long-term accommodation needs.

Previously, the project was described as including twin towers of 6–15 floors (Area A) and a 20-story tower (Area B), along with 5 basement levels. However, the final detailed planning shows a 15-story and 25-story interconnected complex, reflecting the project's expansion and development during implementation.

Basement System and Traditional Market Integration

A highlight of Vinaconex Diamond Tower design is the smart integration of parking areas and the traditional market, preserving local cultural identity:

4 basement levels are used for parking, serving both the project and surrounding residents.
1 semi-basement floor (approximately 4.5m high) is used for the traditional market (about 10,172 m²). This arrangement allows the market to operate in a cleaner, more civilized environment while maintaining its traditional trading character.

This design reflects the investor’s vision of balancing modern urban development (offices, supermarkets) with the preservation of local cultural elements (traditional market), creating a harmonious and sustainable complex.

Pricing and Investment Potential

Vinaconex Diamond Tower offers competitive pricing within Hai Ba Trung District. The price range is approximately 46.68 – 58.47 million VND/m². This is suitable for a multi-functional complex with a prime location and completed infrastructure.

With diverse functions such as office leasing, supermarkets, and serviced apartments, the project attracts both end-users and investors seeking rental income from commercial and office spaces. Its central location and operational status ensure liquidity and long-term value growth potential.

Development Progress and Current Status

The project had an expected structural completion by October 2010 and official operation starting in August 2011. Currently, Vinaconex Diamond Tower has been completed and is in use, confirming the investor’s commitment to delivering a high-quality project serving Hanoi’s development.

Vinaconex Diamond Tower is not only a construction project but also a landmark urban development, contributing to infrastructure improvement and enhancing the quality of life and business environment in southern Hanoi.

Vinaconex Diamond Tower is a typical example of the successful combination of modern commercial space and traditional cultural elements. Its presence has strengthened Hai Ba Trung District’s position as a dynamic economic and cultural center of Hanoi.

With a total land area of 14,713 m², including 3,522 m² allocated for road expansion planning, Vinaconex Diamond Tower strictly complies with urban infrastructure and landscape development regulations. A construction area of 11,191 m² with 45% density is a reasonable ratio for a high-rise complex in an inner-city area, ensuring openness and convenience.

The investor, VINACONEX - ALPHANAM Infrastructure Investment and Development JSC, has demonstrated its experience and capability through this large-scale project. The Vinaconex brand in construction and real estate further reinforces trust in the quality and sustainability of Vinaconex Diamond Tower.

The project’s diverse functionality is a major competitive advantage. The traditional market relocated to the semi-basement solves sanitation and traffic issues in the Cho Mo area while creating a more modern shopping environment. The large basement system with 4 levels effectively meets parking demand for both the complex and surrounding area, a common challenge in large urban centers.

From the 6th floor upward, office and serviced apartment functions meet professional workspace and flexible accommodation needs. The clear separation between the office block facing the main road (Bach Mai – Minh Khai) and the inner residential block ensures privacy and quiet living conditions.

The completion and operation launch in August 2011 brought practical benefits to the community. It not only provides additional high-quality office and commercial space but also contributes to a more modern and well-planned urban landscape in southern Hanoi.

The property value at Vinaconex Diamond Tower, priced at approximately 46.68 – 58.47 million VND/m², is considered reasonable compared to similar projects in Hai Ba Trung’s central area. This reflects its utilities, construction quality, and transport advantages.

Overall, Vinaconex Diamond Tower is a model of sustainable urban development where economic functions (offices, retail), social functions (traditional market), and residential functions (serviced apartments) are harmoniously integrated, forming an impressive architectural complex in southern Hanoi.

In particular, the restoration and modernization of Cho Mo traditional market into a civilized commercial space within the tower is a highlight, demonstrating attention to cultural and historical values in real estate development.

In conclusion, Vinaconex Diamond Tower stands as one of the most important projects in the area, delivering significant economic, social, and architectural value to both Hai Ba Trung District and Hanoi as a whole.

Vinaconex Diamond Tower