The land plot on which the HCMC government plans to build a US$70-million trade center complex
The Ho Chi Minh City government has planned a US$70-million trade center complex project that is designed to occupy one of the best locations in the city’s downtown.
The municipal People’s Committee submitted a report on the project located at the Le Loi-Nguyen Hue-Dong Khoi-Nguyen Thiep conjunction in District 1 to the municipal People’s Council, the city’s legislative body, for reviewing and approval on Tuesday.
The land plot is called the “golden quadrangle” given its prime location, which is right in front of the Opera House
If the council approves the project, the committee will start the bidding process to select investors for the project.
The project covers an area of more than 5,160 square meters facing the four main streets of District 1.
As many as 129 private residences, covering 1,461 square meters, would be affected if the project is approved.
According to the municipal People’s Committee’s report, the project will build a shopping mall, office buildings and luxury hotels, which are limited to a height of 30 meters (eight storeys).