Hanoi authorities have approved construction of a mixed-use building with a shopping mall, hotel, and offices near iconic Hoan Kiem (Sword) Lake after refusing permission for a similar building in 2007 due to objections from experts and the public.
The Vietnam Electrical Equipment Joint Stock Corporation's building will come up on an area of nearly 10,000 square meters between Tran Nguyen Han and Ly Thai To Streets.
It will have 17 floors, including four underground.
In 2007 the authorities first allowed the state-owned Electricity of Vietnam to build a financial center and shopping mall on Dinh Tien Hoang Street near the lake.
But they later canceled the license after experts and the public raised objections, saying it would affect the view around the lake.
Explaining the latest decision, Dao Ngoc Nghiem, deputy chairman of the Hanoi Architectural Planning Association, said the new building is not situated within the lake zone and so will not affect the view.
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