VietNamNet Bridge - Called golden land, many plots in downtown Saigon are still not being developed.


Can canh nhung khu dat vang nhieu truan chuyen o Sai Gon hinh anh 1

In 2007, the HCM City People's Committee approved the Saigon Kim Cuong JSC’s SIC Tower project on a four-façade land piece on Le Thanh Ton - Nam Ky Khoi Nghia - Le Loi - Nguyen Trung Truc street.

 
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If the SIC Tower is built, it would be 52 floors, with a total investment of over $137 million. Yet, for years, this land plot is still a parking lot.

 

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The golden land on Le Duan - Hai Ba Trung Street, right next to Diamond Plaza, is also a parking lot.

 

 

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This is a home to project Lavenue Crown of Kinh Do Joint Stock Company, HCM City Housing Management and Trading Co., Ltd. And Mayflower Investment. The land lot was fenced by a temporary wall with eye-catching ads about the project. However, the construction has not begun.

 

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Having a prime location, the land lot at 117-119 Nguyen Hue Street of 2,724 m2 is empty. This area was approved for the BIDV Tower project, invested by the Bank for Investment and Development of Vietnam (BIDV).

 

 

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Under BIDV’s plan, a 40-storey building will be built but this project has been stalled for over 8 years. Recently, this area was used as a parking lot.

 

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Another facade of the land.

 

 

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The land at 164 Dong Khoi Street, opposite the Saigon Notre Dame Cathedral, was returned to the city by Hongkong Land and Sumitomo & Development. This plot is 9,800 m2 area, adjacent to the center roads of Nguyen Du, Dong Khoi, Ly Tu Trong and Tran Dai Nghia High School. Recently a local firm - Nova Bac Nam 79 – proposed to invest in this plot.

 

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During the French colonial period, the building at 164 Dong Khoi was the"Catinat station". From 1975 to 2014, it was the headquarters of the HCM City Department of Culture - Sports and Tourism.

 

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With an area of 13,110 m2, adjacent to 23/9 Park and Ben Thanh market, this land plot is considered to have the best location among the golden land areas in the city. In was auctioned for the first time in early 2007 and after three changes of ownership, it currently belongs to a JV of Jimiro (South Korea) and Dai Tan Phu (Vietnam).

 

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The new investors planto build three 55-storey office towers, a 30-storey 5 star hotel and a 10-storey business center, with total capital of about $500 million.

 

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Nguyen Cu Trinh quadrilateral area of 600,000 m2 after 10 years of planning.


 

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The golden land at 23 Le Duan Street was auctioned last year and the winner was Tan Hoang Minh corporation, with the offer of VND1,430 billion, 2.6 times more than the starting price.

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However, Tan Hoang Minh asked to cancel the auction results to organize a new one, saying that there were mistakes in the auction.

 


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The One project at the Ben Thanh quadrangular area is opposite the Ben Thanh Market.

 

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For The One, after almost a decade, Bitexco has only finished the construction of the basement. The two other projects have not begun. According to some property investors, as site clearance has not been implemented, these projects will be delayed for years.

 

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The golden land area at 2-4-6 Hai Ba Trung Street (Ben Nghe Ward, District 1) is about 6,000 m2, with four facades looking to the streets of Cong Truong Me Linh, Hai Ba Trung - Dong Du - Thi Sach. In 2008, the HCM City People's Committee decided to give it to the Saigon Beverage Corporation or Sabeco without holding bidding.


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In January 2016, Sabeco Pearl Investments JSC introduced its project on this area, including a six-star hotel, a conference center, and office buildings for rent named Sabeco Tower. The work has a total floor area of about 90,000 m2.

But recently, Sabeco disclosed its plan to withdraw from this project and the golden land was transferred to a big real estate corporation in Saigon, whose name has not been disclosed.


 

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In this picture is a land lot with two facades on Tran Hung Dao and Ho Hao Hon streets, with an area of 4,000 m2, which was licenced to Duc Khai JSC to build a 30-storey tower with capital of VND1,499 billion. The project was scheduled to commence in January 2016 but nothing has happened.



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