The Ministry of Planning and Investment has licenced the Underground Space Investment and Development JS Company (IUS) to build an underground car park at Le Van Tam Park in District 1.
The first underground car park in HCM City and in Vietnam will have five storeys totalling over 103,2000 sq.m. It will be able to house around 2200 bikes, 1250 cars and 28 buses, and many shops.
This project has total investment of 1748 billion dong (more than $97.1 million) and it is being built in the mode of build-operate-transfer (BOT). It is scheduled that the car park will open to the public after 30 months of construction.
The investor is responsible for paying 30 percent of the expenditures for maintaining the landscape of Le Van Tam Park.
This is a key project in HCM City because it will help the city solve the problem of shortage of parking. The project was considered for several years.
This will be the first underground car park for the public in HCM City. The underway Chi Lang underground car park will only serve surrounding trade centres, hotels and office buildings.
The model of the underground car park at Le Van Tam park.
Photo credit: MrBigFish