Hanoi's iconic 'Shark Jaw' mall to be demolished this April

The demolition, projected to cost around VND18 billion ($704,984), will be funded from Hanoi's city budget, according to Hoan Kiem District authorities.

Hoan Kiem District's People's Committee has been proposed as the lead investor for this project. The budget does not cover the relocation costs for two electrical substations located on the building’s ground floor, which must be moved by the Hoan Kiem power company before April 20.

The "Shark Jaw" structure, managed by Hanoi Transportation Corporation, has been a notable landmark in Hanoi since its construction between 1991 and 1993. Situated within the Dong Kinh Nghia Thuc Square, north of Hoan Kiem Lake, the building covers a floor area of 390 square meters across its six floors, with four of them being restaurants and cafes.

The demolition is expected to be completed by April 30. Following this, authorities plan to redevelop the square area, finishing above-ground infrastructure by Sept. 2, Vietnam's Independence Day. The redevelopment covers approximately 1.2 hectares and also includes plans for an underground parking facility.

Additionally, the city is considering expanding public spaces on the eastern side of Hoan Kiem Lake. Approximately 40 families are residing within the area, which spans more than 20,000 square meters.