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IFC One Saigon

Coordinates: 10°46′18″N 106°42′14″E / 10.7717°N 106.7040°E / 10.7717; 106.7040
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IFC One Saigon
IFC One Saigon is located in Vietnam
IFC One Saigon
Location within Vietnam
General information
StatusGlass installation has been completed. As of 2 September 2022, remaining construction is pending government inspection.
TypeShopping mall, office, apartment
LocationHo Chi Minh City, Vietnam
Coordinates10°46′18″N 106°42′14″E / 10.7717°N 106.7040°E / 10.7717; 106.7040
Construction started2007
Estimated completionUnknown [citation needed]
OwnerViva Land
Height
Top floor195.3 m (641 ft)[citation needed]
Technical details
Floor count41
Design and construction
Architect(s)RSP Architects Planners and Engineers
DeveloperViva Land
Main contractorCoteccons
References
[1]

IFC One Saigon, formerly Saigon M&C Tower and Saigon One Tower, is a 41-storey high-rise building currently under construction at 34A Tôn Đức Thắng Boulevard, Ho Chi Minh City, Vietnam. The project is funded by Saigon M&C and Dong A Bank, with a budget of approximately $228 million USD.

The tower covers 6,800 square metres (1.7 acres; 0.68 ha) of land on the bank of the Saigon River. The tower's construction started in 2007 and was expected to be completed in 2012. Saigon M&C would have become one of the highest-priced real estate developments in Vietnam and was expected to be the second tallest building in Ho Chi Minh City, after Bitexco Financial Tower.[citation needed] However, construction work was halted in 2011, with the building being 80% complete. In 2017, outstanding debts of the developer totaling over VND 7,000 billion were sold to the Vietnam Asset Management for VND 680 billion (US$29 million). After defaulting on the debts, the building was seized by Vietnam Asset Management and put up for auction.[2][3] The developers are on trial for falsifying documents that were used to secure the loans from Dong A Bank.[4]

According to the city's construction department, Saigon One Tower and other stalled or delayed projects in the city are a result of the 2008 financial crash.[5]

In 2021, the tower was acquired by Viva Land and renamed IFC One Saigon and is currently under construction as a mixed-used development.[6][7] The building will contain offices, residential apartments, and retail outlets.[8]

See more

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References

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  1. ^ "IFC One Saigon". SkyscraperPage.
  2. ^ "High-profile real estate projects on sale in Ho Chi Minh City amidst COVID-19". Tuoi Tre News. 27 September 2020. Retrieved 6 May 2021.
  3. ^ "Debt firm auctions off seized high-rise in Saigon to clear $308mn bad loan". Tuoi Tre News. 30 March 2018. Retrieved 6 May 2021.
  4. ^ "Cao ốc bỏ hoang liên quan 'đại án' DAB như thế nào".
  5. ^ "HCMC to remove city center administrative roadblocks". SGGP English Edition. 29 September 2020. Retrieved 6 May 2021.
  6. ^ "Saigon's Infamous 'Ghost Tower' Has a New Developer | Saigoneer". saigoneer.com. Retrieved 31 August 2022.
  7. ^ "Báo VietnamNet". VietNamNet News (in Vietnamese). Retrieved 31 August 2022.
  8. ^ Vivaland. "IFC ONE, SAIGON". vivaland. Retrieved 31 August 2022.
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Media related to IFC One Saigon at Wikimedia Commons