VietNamNet Bridge - Keangnam Landmark 72, Lotte Center Hanoi and Bitexco Financial Tower are the tallest buildings in Vietnam, showing the high expectations of investors in Vietnam.

Keangnam Hanoi Landmark 72

Keangnam Hanoi Landmark Tower was developed by Keangnam Enterprise of South Korea in Hanoi. Construction began in 2007 and the building opened in 2011, with a total investment of up to $1.05 billion.

With a height of 350 meters, the building broke the record height of 262 meters of Bitexco Financial Tower in HCM City to become Vietnam's tallest building and the world's 17th tallest building upon its inauguration.

The total area of this work is 579,000 m2, including a 72-storey building and two 48-storey apartment buildings with an observatory, a 5-star hotel, a business and entertaining center, a hall which can accommodate 2,000 people, nearly 1,000 apartments and 36 floors of Class A offices for rent.

The investor said that this building is like a small city in the heart of Hanoi.

Bringing lots of high expectations of investors in the real estate market, for Hanoians, this tower is an icon of economic development of the capital city.

In 2008, the golden time of the real estate market, the price per 1m2 of apartments here was $2,500-$3,000, equivalent to VND7-VND8 billion ($350,000-$400,000) per apartment.

However, during the five years of construction of this skyscraper, many scandals related to construction safety, the area of apartments, and transfer pricing occurred.

After four years of operation, about 70%-80% of apartments and 90% of offices for rent have been occupied at 90%. According to sources from real estate companies, the price for offices for lease at this building once felt to $15/m2/month of Class B offices.

Lotte Center Hanoi

This is the skyscraper built by Lotte Group, also from South Korea. Construction began in 2009 and it began operational in September 2014.

Total capital investment in this building is $500 million. The area is 14,094 m2 with 5 basements, 65 floors including a shopping mall, a business and entertainment center, offices for rent and a hotel.

With the height of 267 meters, Lotte becomes the 2nd tallest building in Vietnam, behind Keangnam Landmark 72.

The building is designed based on inspiration from the Vietnamese ao dai (Vietnamese gown). Mr. Lee Jong Kook, CEO of Lotte Vietnam, once declared: "Rather than a building, Lotte Center Hanoi is an iconic project of us in Vietnam."

Having a prime location at the crossroads of Dao Tan - Lieu Giai (Ba Dinh district, Hanoi), the skyscraper attracts many visitors, who come for shopping, experiencing many services, including observation of Hanoi from the observatory on the 65th floor.

The shopping mall is located on the first to the sixth floors, aimed at rich customers.

However, as it opened at the difficult period of the economy, the shopping center did not have many customers.

So far, only 50 percent of the offices for rent here have been occupied. The price remains stable, $35/m2/month (including tax and service charge). Lotte Center Hanoi is accepting "temporary unmarketability" to wait for luxury clients.

Bitexco Financial Tower

Bitexco Financial Tower was invested in by Bitexco Group in 2005 and inaugurated in October 2010.

With its 262 meters height, nearly 6,100 m2 of floor area, a total investment of $220 million, this is the third tallest skyscraper in Vietnam and among the top 25 conic buildings in the world according to CNN.

The helipad is the highlight of the building.

The observatory on the 49th floor allows visitors to have panoramic views of HCM City and the Saigon River.

The shopping mall is located from the 1st to the 6th floor of the building.

The rent of Class A offices in HCM City is about $35-$50/m2/month. The price for offices for rent here ranges between $38-$60/m2/month (including taxes and fees). The occupancy rate has reached 95% and is expected to be 100% early next year.

Bitexco Financial Tower is besides the abandoned 195m Saigon One Tower. Bitexco is the tallest building in Southern Vietnam.

Architect Carlos Zapata, who designed the building, once said: "Competition about height makes no sense at all because any height can be overcome easily."

Linh Nhat