Hoa Binh Construction and Real Estate Corporation appointed contractor for Saigon Centre and Estella Heights projects in HCMC.
The Hoa Binh Construction and Real Estate Corporation (HBC) and Keppel Land Limited signed a VND1.9 trillion ($84.493 million) contract on November 23 for the construction of the second phase of the Saigon Centre building in District 1, Ho Chi Minh City, with the former to be the general contractor.
HBC’s responsibilities include full construction and electricity connections for the 37 storey building. The building has the largest basement in Vietnam, with six levels.
Construction is proceeding on schedule and is expected to be completed by the end of 2016. After this second phase is finished the Saigon Centre will have 40,000 sq m of office space of Grade A standard and 50,000 sq m of retail space from the first to seventh floors as well as 200 serviced apartments.
HBC announced that about 90 per cent of the retail space has already been leased. Takashimaya, one of world’s largest department store chains, is the largest lessee, renting 15,000 sq m.
The Chairman of Keppel Land in Vietnam said that with the number of retail outlets, entertainment options, and global brands appearing for the first time in Vietnam, the Saigon Centre will be a destination for shopping and suitable with lifestyles in Ho Chi Minh City.
HBC was also selected by Keppel Land and the Tien Phuoc Real Estate JSC to be the general contractor for the Estella Heights luxury apartment project in District 2, Ho Chi Minh City, which has VND920 billion ($40.9 million) in investment. It will be in charge of construction, electricity connections, and landscaping, and expects to complete the project by June 2017.