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.
| IFC One Saigon | |
|---|---|
 | |
  Location within Vietnam | |
| General information | |
| Status | Glass installation has been completed. As of 2 September 2022, remaining construction is pending government inspection. |
| Type | Shopping mall, office, apartment |
| Location | Ho Chi Minh City, Vietnam |
| Coordinates | 10°46′18″N 106°42′14″E / 10.7717°N 106.7040°E |
| Construction started | 2007 |
| Estimated completion | Unkrown[citation needed] |
| Owner | Viva Land |
| Height | |
| Top floor | 195.3 m (641 ft)[citation needed] |
| Technical details | |
| Floor count | 41 |
| Design and construction | |
| Architect(s) | RSP Architects Planners and Engineers |
| Developer | Viva Land |
| Main contractor | Coteccons |
| References | |
| [1] | |
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]
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References
External links
Media related to IFC One Saigon at Wikimedia Commons