» » » Bitexco plans new skyscraper in town

Local property developer Bitexco Group will start developing another high-rise structure in HCMC in October shortly after putting into service the Bitexco Financial Tower skyscraper which is underway in downtown HCMC.

The developer says the Ben Thanh Towers project will be developed on a prime site covering 8,600 square meters surrounded by Calmette, Le Thi Hong Gam, Pho Duc Chinh and Pham Ngu Lao streets and faces Ben Thanh Market.

Vu Quang Bao, general director of Bitexco Group, told the Daily on Wednesday that the group would invest some US$300 million to develop two blocks of 55-storey buildings that will include a section for serviced apartments, a section for offices and a section for retail.

The municipal authorities have approved the project’s scheme, compensation and site clearance, and the group has begun to meet families in the area to negotiate compensation before it can kick off its second skyscraper project in the city, he said.

Regarding the tallest building in the city, the group organized the topping-out ceremony for the Bitexco Financial Tower early this week, pouring concrete on the tower’s 68th floor to finalize construction after five years of development.

The developer says it has spent some US$270 million on this development, which is located on Hai Trieu, Ngo Duc Ke and Ho Tung Mau streets in downtown HCMC.

When in place by October, the lotus-shaped structure will provide the market with some 30,000 square meters of Grade A office space and 8,000 square meters of retail space for local and international tenants. Besides offering the workplace for some 10,000 people, it also serves as a venue for travelers to view the city from high above.

Bao also unveiled another property project in the city to be developed in the Nguyen Cu Trinh Quadrangle, better known as Ma Lang area covering 6.5 hectares and bordered by the streets of Nguyen Cu Trinh, Tran Dinh Xu, Nguyen Trai and Cong Quynh in District 1.

The developer says the revamp will turn the quadrangle into a complex including office buildings, shopping centers, apartment buildings, hospital, school and amusement section in the years to come.

Besides residential projects, infrastructure and hydropower plant development, the group is developing the five-star JW Marriott Hanoi Hotel in a complex including the National Convention Center in My Dinh in the capital city of Hanoi.

The group has invested US$126 million in the elite hotel with 450 rooms, and when operational late next year, it will offer accommodation for leisure and business travelers in the northern region.

Established in 1985, Bitexco is a local group active in property development, road and hydropower plants development and financial investment, among others.

Source: The Saigon Times
Photo credit: Photobucket/GiangPro1307

Post a Comment