Bitexco starts work on new skyscraper on Friday
02-05-2012
 An artist’s impression of The One Ho Chi Minh City twin-tower project in downtown HCMC - Photo: Courtesy of Bitexco |
The investor, whose full name is Bitexco Group of Companies, will spend around US$500 million developing the project at the prime site surrounded by Calmette, Le Thi Hong Gam, Pho Duc Chinh and Pham Ngu Lao streets. One tower will have 55 floors and the other 48 floors.
Once completed in 2015, The One Ho Chi Minh City will supply the market with 31,800 square meters of retail space, over 17,000 square meters of Grade-A office space, some 350 apartments for lease, and a five-star hotel named the Ritz Carlton with 250 guest rooms.
Vu Quang Hoi, board chairman of the group, said the project gets off the ground this time after nearly six years of preparations. Despite difficulties faced by property developers, Hoi said, there are always opportunities for investors, and his company expected the market will warm up again upon the project’s completion.
Asked about business at the 68-floor Bitexco Financial Tower, In-Suk Ko, general director of the Bitexco Group, said some 60% of the total office space of 37,000 square meters had found tenants, while the retail business section of 8,000 square meters would be opened for business in August.
In related news, Vingroup is looking for customers to lease the remaining 38,000 square meters out of the total 91,000 square meters of retail space at the Vincom Center A located in the heart of the city.
The building, bordered by Dong Khoi, Le Thanh Ton, Nguyen Hue and Le Loi streets, also houses a five-star hotel named Vinpearl Luxury HCMC with nearly 300 rooms. The building will be put to use in October this year.
