Originally the 6,000 square meter site near the Thu Ngu flagpole on Ton Duc Thang Street belonged to Cot Co Thu Ngu Co, a US$25 million 75:25 joint venture between France's Feal International and Saigontourist. In 1997, just after the hotel's foundations were laid, the Asian financial crisis broke out and put what was hoped to be a temporary hold on the project. A lack of capital has left the site dormant ever since. The new owners estimate the cost of the mall and 40 story tower at USD$60 million. The apartments will all have three bedrooms and range in size from 150 to 200 square meters.
i think this one still waitting for land clearance too.....judging from the design this one will cover the entire block....on Ngo DUc Ke street there's still 3 banks buildings...1 of the building used to be the first american embassy in saigon..(they all needed to be demolished?)
I personally think that members (blue milk and saigonlily) who can give us updates shouldn't waste more of their time and effort on other small projects; instead they should save those time and effort for giving us updates on tall projects like this M&C tower, Times Square, and Saigon FT.
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