Sanrio Hello Kitty World Hanoi project has its licence revoked

The Department of Planning and Investment of Hanoi has issued a decision to revoke the licence for the Sanrio Hello Kitty World Hanoi project due to long construction delays.

Sanrio Hello Kitty World Hanoi project has its licence revoked

The department shared that the project developer, BRG Group, was no longer allowed to use the project location, and will not be able to complete the required procedures for updating a new investment location within six months of the revocation of land usage rights.

The decision highlights the investor’s accountability to finalise the project’s liquidation and fulfill all obligations as per the legal requirements.

In 2018, BRG and Japan’s Sanrio Group, the owner of the Hello Kitty brand, signed an agreement to team up with each other to develop the project. The two parties expected to complete the construction and put the facility into operation in 2021. However, the construction site remains undeveloped after four years and the land still appears vacant.

A representative of BRG clarified that the suspension of the Hello Kitty park project was unrelated to any financial constraints, adding that the group will coordinate with Sanrio to determine a new location for the project.

Previously, in December 2022, BRG Group made a request to halt the project's implementation and restart investment procedures. The two firms could reach a consensus to exclude Hanoi as a potential location.

The Sanrio Hello Kitty World Hanoi project was not only set to be the first indoor entertainment park under an international brand in Vietnam, but also the first Sanrio amusement complex in Southeast Asia.

Located on Yen Phu Street in Hanoi, right next to the windy West Lake, Sanrio Hello Kitty World Hanoi was planned to cover an area of ​​nearly 30,000 square metres. The park’s development included amusement rides, attractions, parades, theatre shows, food and beverages, retail, and more.

Ha Vy

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