It was built for the 1902 Hanoi Exhibition world trade fair, as the city became the capital of French Indochina.

[3] The high construction cost of the exhibition palace and the long duration of the fair left Hanoi's budget in deficit for a decade.

[3] The only remnants of the palace are two big bronze lion statues, which are now placed in front of the Vietnam Central Circus building in the Reunification Park in Hai Bà Trưng District.

The site of the Grand Palais was on Boulevard Gambetta in the French Quarter south of Hoàn Kiếm lake near the Central Station.

The modern site is on Trần Hưng Đạo street in Hoàn Kiếm District, a major avenue hosting several foreign embassies, state ministries and corporate headquarters.