IFC One Saigon
Highrise in Ho Chi Minh City, Vietnam
From Wikipedia, the free encyclopedia
International Finance Centre One Saigon or International Financial Centre One Saigon, officially abbreviated as IFC One Saigon, formerly Saigon M&C Tower and Saigon One Tower, is a 41-storey high-rise building currently under construction at 34A Tôn Đức Thắng Boulevard, Ho Chi Minh City, Vietnam. The project is funded by Saigon M&C and Dong A Bank, with a budget of approximately $228 million USD.
- Saigon M&C
- Saigon One
- International Finance Centre One Saigon
- International Financial Centre One Saigon
- Shopping mall
- office
- apartment
| IFC One Saigon | |
|---|---|
.jpg) IFC One Saigon, seen from Khánh Hội Bridge in 2023 | |
  Location within Vietnam | |
| Former names |
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| General information | |
| Status | Glass installation complete. As of 2 September 2022, remaining construction is pending government inspection. |
| Type |
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| Location | Ho Chi Minh City, Vietnam, 34A Tôn Đức Thắng Boulevard, Nguyễn Thái Bình, District 1 |
| Coordinates | 10.7717°N 106.7040°E |
| Construction started | 2007 |
| Estimated completion | Unknown |
| Owner | Viva Land |
| Height | |
| Top floor | 195.3 m (641 ft)[citation needed] |
| Technical details | |
| Floor count | 41 |
| Design and construction | |
| Architects | RSP Architects Planners and Engineers |
| Developer | Viva Land |
| Main contractor | Coteccons |
| References | |
| [1] | |
The tower covers 6,800 square metres (1.7 acres; 0.68 ha) of land on the bank of the Saigon River. The tower's construction started in 2007 and was expected to be completed in 2012. Saigon M&C would have become one of the highest-priced real estate developments in Vietnam and was expected to be the second tallest building in Ho Chi Minh City, after Bitexco Financial Tower.[citation needed] However, construction work was halted in 2011, with the building being 80% complete. In 2017, outstanding debts of the developer totaling over VND 7,000 billion were sold to the Vietnam Asset Management for VND 680 billion (US$29 million). After defaulting on the debts, the building was seized by Vietnam Asset Management and put up for auction.[2][3] The developers are on trial for falsifying documents that were used to secure the loans from Dong A Bank.[4]
According to the city's construction department, Saigon One Tower and other stalled or delayed projects in the city are due to the 2008 financial crisis.[5]
In 2021, the tower was acquired by Viva Land and renamed IFC One Saigon and is currently under construction as a mixed-used development.[6][7] The building will contain offices, residential apartments, and retail outlets.[8]
