Coteccons Named Domestic Contractor for Hanoi Twin Towers 99, World's Tallest Twin Towers

Overview

Coteccons (CTD) has been selected as the domestic construction contractor for the proposed Hanoi Twin Towers 99, a 99-story twin tower complex in Hà Nội with an estimated investment of $3–3.5 billion. The project is a joint venture between Thaiholdings and a Vingroup subsidiary, and if completed, it would become the world’s tallest twin towers. This contract win positions CTD as a key player in one of Vietnam’s most ambitious construction projects to date.

Key Facts

• Coteccons will serve as the domestic construction contractor alongside China State Construction Engineering Corp (CSCEC3) as international general contractor.
• The project is proposed on a 34,936 m² site at 5–7 Đào Duy Anh, Hà Nội, with total investment of $3–3.5 billion.
• Hanoi Twin Towers 99 will have 99 above-ground floors, 6 basement levels, and a height of 568 meters.
• The project is expected to break ground on September 2, 2026, with completion targeted for Q3–Q4 2030.
• The investor consortium includes Kim Liên Tourism JSC, Thaiholdings JSC, and Thái Sơn Construction Investment JSC (a Vingroup member).
• The design is by Southwest China Architectural Design Institute; CSCEC3 has built 8 towers over 500m and 50+ towers over 300m globally.
• The project aims to set five world records, including tallest twin towers and highest helipads.

What Happened

On July 31, 2026, the investor consortium comprising Kim Liên Tourism, Thaiholdings, and Thái Sơn (a Vingroup subsidiary) submitted a proposal to the Hà Nội People’s Committee for approval of the Hanoi Twin Towers 99 project. The consortium announced that Coteccons would be the domestic construction contractor, working alongside CSCEC3, which has extensive experience in supertall buildings.

The project site is located at the head of the Lê Duẩn–Giải Phóng radial axis, connecting directly to the area where Vingroup is developing the Hà Nội International Sports City, anchored by the world’s largest stadium (VinFast Stadium, 135,000 seats). The consortium stated that 100% of the project capital would come from its own equity and foreign financial institutions, though specific funding details were not disclosed.

Market Context

Coteccons (CTD) trades on HOSE and closed at VND 62,600 on August 3, 2026. The stock has been supported by a strong order pipeline in Vietnam’s recovering construction sector. This contract win, if finalized, would add a landmark project to CTD’s portfolio, potentially boosting its revenue visibility through 2030. Vingroup (VIC), also on HOSE, closed at VND 213,000, and the project aligns with its broader real estate and infrastructure ambitions, particularly the adjacent sports city development.

Strategic Significance

For Coteccons, this contract represents a strategic leap into the supertall building segment, a niche dominated by international contractors. Partnering with CSCEC3 could enhance CTD’s technical capabilities and global reputation, positioning it for future high-value projects. For Vingroup, the project reinforces its strategy of creating iconic, large-scale developments that anchor its ecosystem, from real estate to sports and entertainment. The project’s success would also signal Vietnam’s construction sector’s capacity to undertake world-class projects, potentially attracting more foreign investment.

What to Watch

• Approval of the project proposal by the Hà Nội People’s Committee and subsequent planning permissions.
• Formal contract signing between Coteccons and the investor consortium, including scope and value details.
• Financial closure and confirmation of funding from foreign financial institutions.
• Groundbreaking ceremony scheduled for September 2, 2026, and any delays.
• Updates on Vingroup’s Hà Nội International Sports City and its integration with the twin towers project.