X-Point | CTD 96,500 +30%: Isola Della Musica Inspired by the waves of West Lake

On June 12, 2026, BSC Research conducted a site visit to the Hanoi Opera House Project – the Pearl Theatre – and gathered the following key updates.

Latest report: https://www.bsc.com.vn/bao-cao/15365-x-stock-ctd-96500-30-khoi-luong-cong-viec-doi-dao/

Hanoi Opera House Project Overview (Isola Della Musica)

• Location: Dam Tri Lake area, Quang An Peninsula, Tay Ho Ward, Hanoi.

• Total investment: More than VND 12.756 trillion, comprising Phase 1 – the Opera House – and Phase 2 – the themed cultural and arts park.

• Architect: Renzo Piano, Italy.

• Main contractor: Coteccons Construction JSC (CTD).

• Site area: 25,625 sq m, developed on land that was previously a marsh.

• Construction duration: 30 months, including one basement level and six above-ground floors.

• Project timeline: From 1Q25 to 3Q29. The developer expects the Opera House to be completed in 2027.

• Construction method: Fast-track delivery, under which design and construction are carried out concurrently. This approach is typically adopted for projects with demanding schedules and requires a high level of trust and coordination between the developer, Sun Group, and the main contractor, Coteccons.