How to choose a place to live in Ho Chi Minh City?

By: City Pass Guide

What about the different places to live in Ho Chi Minh City?

Properties in District 1 and District 3 are sought after for their good schools, offices and markets, but District 2 and District 7 are becoming hubs in their own right. And as traffic congestion and property values rise in town, the less congested districts of Bình Chánh and Nhà Bè are increasingly popular among wealthy Vietnamese.

Video source: DJSharks71

When choosing a place to live in Ho Chi Minh City, take into consideration its proximity to good schools, family, commercial centres and work, along with the character of the neighbourhood, quality of life and the available infrastructure.

Another element that should be considered is flooding. With Saigon’s long rainy season and inadequate drainage system for rivers and street overflow, heavy rain or high tides can cause extensive flooding in the streets.

When choosing your new home, it is important to ask whether it will flood on your way to work. If you don’t ask this seemingly bizarre question, you may find yourself pushing your beloved motorcycle through a street of black water with a drowned carburettor and exhaust. This is one of the reasons taxi drivers in HCMC love the rainy season.

HCMCImage source: codiemaps.files.wordpress.com

Note also that while it’s cheaper to rent in outlying districts, most businesses function in the Central Business District (CBD). So the savings you make on rent could be negated by your then extensive commute to work.

What about living in District 1?

District 1, with its reverse L-shape, is the location of HCMC’s CBD and the bulk of the city’s Western restaurants, clubs, bars and tourist destinations.

It is not surprising that rental prices here are the highest. The CBD spans from Nguyễn Huệ and Đồng Khởi and stretches north to south from the Saigon River to Lê Lợi. HCMC’s Little Tokyo, on Lê Thánh Tôn from Hai Bà Trưng to Tôn Đức Thắng, is another fascinating area.

HCMCImage source: qtxasset.com

Because of its consistent vibrancy and upbeat nightlife, District 1 is ideal for singles. The city never sleeps!

What about living in District 2?

Once one of the poorest districts in the city, District 2 is now a fast-developing hot spot. Passing under the Saigon Tunnel on Mai Chí Thọ and seeing the cranes in the distance will give an indication of the city’s plans to create a second CBD. With its close proximity to District 1, District 2 will also be the first stop on the city metro line.

HCMCImage source: sasaki.com

The district’s expat enclave, Thảo Điền ward, has two of the most prestigious international schools, as well as villas and compounds and a fair few Western restaurants and bars. Because of its international schools, District 2 is home to many expats with young families. Its ambience is more suburban than big city, despite rapid development, and the streets are less crowded than in the CBD. Floodings in many parts of the district are still common, though.

Video source: CapitaLand

What about living in District 7?

District 7 feels like an alternative universe compared to other parts of town. The streets are wide, congestion hardly exists and the atmosphere is mostly free of the blaring horns of downtown Saigon. The district is home to a large population of Korean expats and is the place to go for great Korean food. Inside District 7 is the satellite city of Phú Mỹ Hưng, which is characterised by tall apartment blocks and modern shops and restaurants.

HCMCImage source: phumyhung.com.vn

There are lots of Japanese and rich Vietnamese too. You can find great schools and the city’s best shopping malls here. Several peaceful parks are available in the district, and are great for picnics with friends and family. D7 is around 15 minutes from the city centre outside of peak hours, and relatively free of flooding.

What about living in District 3?

Bordering D1 in the centre of HCMC, District 3 is quieter, more local and a touch more scenic than its manic neighbour. The tree-lined avenues snake around a smattering of foreign consulates, French colonial buildings and up and-coming dining venues.

HCMCImage source: c2.staticflickr.com

What about living in District 4?

The smallest district in HCMC, District 4 is sandwiched between D1 and D7. This densely populated district had a reputation as one of the roughest parts of the city due to its organised-crime past, but it has cleaned up quite a bit in recent years. It is also known for its cheap eats and has some of the best street food in the city.

HCMCImage source: willflyforfood.net

What about living in District 5?

This district to the west of D1 is also known as Chợ Lớn, home to the city’s Chinese population. A teeming hub of activity, it hosts one of the largest markets in Vietnam, a deluxe shopping mall and many Chinese pagodas. It is also known for its cheap Chinese restaurants.

Video source: Chợ Lớn Kìa

What about living in Bình Thạnh District?

This district is a transit hub between D1 and D2, and embodies much of the vibrancy of Saigon several decades ago. Due to its proximity to D1 it has become a magnet for higher-end apartment blocks such as the Manor and Saigon Pearl. It is also home to the Bình Quới area which has some of the greenest spaces in town.

HCMCImage source: en.vinhomestancang.co

What about living in Phú Nhuận District?

Located near Tan Son Nhat airport, Phú Nhuận has one of the highest population densities in the city and can be a bit manic to live in. If you are looking for some escape, it has several parks where you can relax.

HCMCImage source: vinasctax.vn

Banner Image source: MPhoto.vn


How to Buy a House or Land in Vietnam?

By: City Pass Guide

Foreigners who are living in Vietnam may purchase houses for the expressed purpose of dwelling in it. By Vietnamese law, land is a national good, so you can only own the structure built on a property, not the land that it is on. You can enjoy a “land use right” for up to 50 years. This duration can be renewed. Also note that if you’re married to a Vietnamese citizen or a Việt kiều, you will have the same ownership rights as Vietnamese citizens.

Seek professional advice to ensure that all steps are properly taken to ensure a troublefree property transfer.

Alternatively, according to Vietnam’s Housing Law, every foreigner who has a Vietnamese visa stamp on their passport can buy a property in Vietnam. However, if you enjoy diplomatic or consular immunities and privileges, this does not apply.

Besides individuals, foreign companies, branches, representative offices of foreign companies, foreign investment funds and branches of foreign banks that are operating in Vietnam are also entitled to purchase property of residential projects.


A serviced apartment in Diamond Island Luxury Residences

What are the limits of foreigners’ rights on residential property in Vietnam?

The law states that foreign individuals and entities may only buy, receive or inherit apartments and houses in commercial projects and not in areas that limit or ban foreigners.

Although the limit of one property per foreigner has been repelled, the new Housing Law sets a limit on the proportion of foreigners who may live in a determined area: the total number of units owned by all foreign buyers must not exceed 30% of the units in one apartment building, or 250 landed property units in one ward.

The duration of the tenure is supposed to be equal to the land use right owned by the developer, most likely 50 years, with an option to extend the land use right at the end of it. The exact conditions for the extension are still unclear and will be detailed in further regulations.


Crescent Residences in D7, HCMC

An expatriate may lease his/her property for any purpose that is not banned by law, but he/she must inform the provincial house management agency before leasing the property. In this case, he/she is subject to Vietnam’s property taxes. If you are an overseas Vietnamese or if you are married to a Vietnamese citizen, you are entitled to a freehold tenure on the property.

If you bought it, you could of course decide to live in the house but also lease it or pass it through inheritance to someone else without any difficulties. To lease it, you will need an administrative authorisation from the Housing Department of the People’s Committee where your property is located.

Can foreign-invested enterprises purchase residential properties in Vietnam?

Foreign-invested enterprises that operate in Vietnam under the investment law but are not engaged in real estate, can purchase residential houses for their employees. They must possess investment certificates or written certifications of investment activities as appropriate to investment forms specified by the investment law granted by a competent Vietnamese state agency. They can buy properties to house their employees, but are not able to use them for leasing or other purposes.

HCMC properties
Housing in Ho Chi Minh City. Photo: GettyImage

What are the steps to purchase a house in Vietnam?

1. Once you have chosen the property, you will have to sign a reservation agreement.

This legally links the buyer and seller and may include paying a deposit to the seller. Examine closely the reservation agreement before paying the deposit. It prescribes that if the buyer changes his mind, he will lose the deposit, and if the seller changes his mind, he will have to pay twice. You’re well advised to notarise this document to protect your interest.

2. Due diligence is the next step.

You will check the reliability of the seller by examining their ID or registration certificate along with the property’s certificates (for example the ownership certificate). You should also ask for a bank guarantee or insurance to ensure the seller is trustworthy.

3. Once due diligence has been satisfied by both parties, they confirm their engagement and interest by signing the housing contract.

An annex related to facilities that go with the apartment is advised. Make sure the agreement is signed by all related parties and if not, then by the representative who is mandated by the related persons. The contract on residential house purchase and sale must be in Vietnamese, so you will need a Vietnamese translator to help examine its content. Although many developers provide a bilingual version of the contract for a better understanding by all parties involved, only the Vietnamese version is valid under Vietnamese regulations. To help you with the complications involved with the contract, we list some details to look for before signing:

- Is it stated that the seller has the ownership certificate of the apartment and does he give a guarantee over this ownership?
- Is the apartment also a security for a loan?
- What are the responsibilities of the seller in case of dispute over the apartment ownership due to his fault?
- Methods used for payment?
- What are the responsibilities for tax and fees?
- What is the delivery time?

4. Paying taxes and fees.

Normally, if there is no other agreement between parties, the buyer pays the registration fee and the seller pays income tax. The payment shall be made at the tax department of the district where the house is located.

5. The last step is to apply for an ownership certificate.

Both parties can agree on how to handle issuance of the new certificate, although it is most likely that a buyer will have to take it up.


Developers, District 9 Is Up for Grabs!

By: Keely Burkey

For developers, much attention falls on one particular sector: District 9, a 114 k2 block of land which lies on top of District 2. Many reasons draw their attention to this uprising section: the land is cheap, the parcels are large and as of now, not much of it has been seriously developed.

Although land development stopped in this space during the global financial crisis of 2007 and 2008, recently builders have seen a major upswing in market interest for district 9. Troy Griffiths, the Deputy Managing Director for Savills Vietnam, explains the area’s current situation. “To be honest,” he admitted, “I think that District 9 is starting to run out of these large available parcels of land.”

District 9

If you look at a map of Ho Chi Minh City, you’ll notice something striking: the districts in the centre of the map, like Districts 1, 3 and 4, are smaller than the outlying districts, like Districts 9, 12 and Binh Tan.

This development is normal, and follows established historical patterns seen in other cities, like Paris and London. When transportation was limited, districts needed to be smaller. Now that we have motorbikes, cars and a metro on the way, larger spaces can be carved onto the map; and it’s these larger spaces that are catching the eye of developers and real estate consultants not only across the country, but also across the world.

Expansion Plans

Griffiths shares his view on this development strategy. “It’s the pattern of the city’s development,” he said. “There are nodes with density that have grown and then become filled and occupied so that developers are now having to look for cheaper land. And this pushes them further and further away from those established nodes.”

District 9 apartment

And who’s taking advantage of it? “Everyone,” Griffith asserted. “You’ve got the local developers and then you’ve got your internationals, your Keppels and your CapitaLands.”

Land Grab

The parcels of land might be sold with ease, but that doesn’t mean that District 9 will be the new District 1 in a year’s time. The Vinh Tran, an employee at the Ministry of Construction, recently reported that although the government has a large stock of land in District 9, that is the way it will stay in the foreseeable future.

Rather than developing the stock, the city municipal department, along with other companies who have invested in District 9’s land plots, prefers to bide its time for the moment, focusing on other projects closer into the city. One big reason for this seems to be transportational issues. The construction of the metro is a big topic in Ho Chi Minh City at the moment, and even now, years before the metro will be finished, it’s affecting real estate prices.

As VietnamNet reported, 37 percent of apartment units for sale are along the Metro Line No.1, which connects Ben Thanh Market to Suoi Tien Park in District 9. When you add the metro to the recently completed Ho Chi Minh City-Long Thanh-Dau Giay highway system, a 55-kilometre-long road that connects District 9 to District 2 and Dong Nai, it’s clear that developers see big plans for this district.

District 9 industrial zoneImage source: zing.vn

District 9’s Top New Projects

Condos

Name: Sun Tower; Developer: N.H.O. Khang Viet; Year of Completion: 2018; Units: 379; Price: US$650 per square metre.

Name: Him Lam Phu An; Developer: Him Lam Land; Year of Completion: 2017; Units: 1,092; Price: US$900 per square metre.

Villas and Townhouses

Name: Lucasta; Developer: Khang Dien; Year of Completion: 2019; Units: 140; Price: US$800 per square metre.

 


The Foreign Investor Guide to Real Estate in HCMC

By: Eric Le Dreau

Are you a foreign investor and want to know about real estate laws in HCMC? Confused by the new Property Law? Indochina Legal clears up the confusion:

One of the most notable changes introduced by Vietnam’s new 2014 property law and its regulations is the revision of the right for overseas Vietnamese, foreign individuals and organisations to own residential houses, as follows:

Overseas Vietnamese (or Viet Kieus) can now own residential houses in the same way as Vietnamese citizens without further residency requirements or any limitations on the type or quantity of houses, or the terms of ownership. They must hold a valid passport with an entry verification stamp marked by the Vietnamese Immigration Department (VID) and a document evidencing their Vietnamese origin.

Foreign individuals have the right to own residential houses, subject to certain restrictions as compared to Vietnamese citizens and Viet Kieus. In order to own houses, a foreigner is required to have a valid passport with an entry verification stamp marked by the VID and cannot fall under diplomatic or consulate preferences and immunities. Requirements of residency, investment in Vietnam, work permit, social contribution and/or marriage to a local Vietnamese is not necessary for residential housing ownership. However, as to ownership duration, foreigners married to Vietnamese citizens or to Viet Kieus are entitled to an indefinite term, whereas foreigners who are not can only own residential housing for a period of 50 years. This can be extended for another 50 years, subject to approval by the provincial People’s Committee where the house is located. Unlike other foreigners, those who are married to Vietnamese citizens are also exempt from notifying the housing administration authority at the district level prior to leasing their houses to others. Apart from that, the new legal framework grants foreigners the same rights of Vietnamese in the cases of subleases, mortgages, etc. of residential housing.

real estate in hcmc

Photo by: Manh Hai

Foreign organisations are allowed to own houses provided that (i) ownership term shall not exceed the period stated in their investment certificates issued by Vietnamese competent authorities, including any extensions; (ii) use of the houses is for residential purposes only, for their personnel; and (iii) lease-out of the houses is not permitted.

It is worth noting that foreign organisations and individuals shall not collectively own more than 30% of the total number of apartments in an apartment building or not more than 250 separate houses in an area where population is equivalent to that of a ward. In addition, house ownership beyond real estate projects (e.g. a villa built by individuals) is not allowed. For national defense and public security purposes, foreign individuals and organisations cannot own houses in certain areas. With respect to these limitations, the local Department of Construction will publish on their official website the projects where foreigners cannot own houses, detailed numbers of apartments or separate houses eligible for foreign ownership, and the number of houses where foreign ownership has been recorded. To our understanding, the database is not yet completely developed for all cities and provinces in Vietnam. Meanwhile, payment for purchase or lease of residential houses shall be made via credit institutions operated in Vietnam. So far there has been no specific instruction on foreign exchange control for relevant inbound and outbound foreign funding of residential housing.

Despite certain remaining limitations, the NHL has provided a more open approach to ownership of residential housing for foreigners. The hope is that these changes will ultimately defreeze the real estate market and create a new wave of foreign investment in Vietnam.

Website: www.indochinalegal.com


Ibis Saigon Airport: A New Flagship for AccorHotels in Vietnam

By: Arik Jahn

The First International Brand to Open an Airport Hotel in Ho Chi Minh City

HO CHI MINH CITY, Vietnam — With an electrifying event, ibis Saigon Airport, AccorHotels’ brand-new hotel sitting right next to Ho Chi Minh City’s Tan Son Nhat International Airport, celebrated its grand opening on 24 March 2017. Ibis Saigon Airport is the latest addition to AccorHotels’ vast hospitality network in Vietnam.

Ibis hotel

Over a hundred guests, including Ho Chi Minh City officials, representatives from AccorHotels and the hotel’s owner company Hado Group attended the event, which paid tribute to ibis Saigon Airport with an opulent buffet, contemporary dance performances and a rooftop party.

“A Milestone for the ibis Brand”

The ibis Saigon Airport’s major asset is its strategic position: a mere 500 metres from Tan Son Nhat International Airport, the gateway to Ho Chi Minh City and all of Vietnam. Xavier Cappelut, Accor’s regional Director of Operations for Middle Scale & Economic Brand Hotels, praised the hotel as “a significant milestone for the ibis brand” thanks to its one-of-a-kind location.

Ibis Saigon Airport is a haven of hospitality tailored to corporate travellers and all those looking for “Value for Money”. With its functional and stylish travel-themed design and an outstanding 24-hour food and beverage service at the in-house Oopen restaurant, this hotel truly honours ibis’ slogan, “Well-being at the best price”.

ibis

As the first international airport hotel in Ho Chi Minh City, ibis Saigon Airport goes beyond the usual amenities of the economy sector. Its room typology – standard rooms, family rooms, studios, as well as one and two-bedroom apartments – is unrivalled in the budget segment, catering to the individual needs of each and every guest, from corporate clients to travelling families, from short-stay to long-stay visitors.

INTERVIEW WITH ORESTE TRAETTO, GENERAL MANAGER, IBIS SAIGON AIRPORT

Question: What makes ibis Saigon Airport the first choice for business travellers in Ho Chi Minh City?

Mr. Traetto: Our hotel is strategically tailored to business travellers. Our Oopen restaurant is open 24 hours and we are the only international hotel chain offering a breakfast service from 4 o’clock in the morning until 12 o’clock [in the afternoon]. So if you have an early flight to catch, you will be able to grab some food, get a coffee, hop on our free shuttle to the airport and you’ll be there in five minutes.

ibis oopen

Or imagine you are a businessperson, and had a hard working day. At ibis Saigon Airport, we provide you with all the facilities to truly reenergise you. What is very important to us is the ibis ‘sweet bed’ that can give you a really good rest. We have incredibly good feedback from our clients about it. And all that, I believe, shows how we really cater to the customers’ needs.

Question: You are very proud of ibis Saigon Airport’s in-house venues. Can you tell me a bit more about them?

Mr. Traetto: Today, travellers, even though they stay for a short amount of time, they want to optimise their stay. Now, with The Hub, ibis Saigon Airport has the only rooftop bar in  Tan Binh District. When you finish your work, you go upstairs, get a beer and enjoy the view of landing airplanes. We have a pool, we have a steam bath, we have a sauna, we have a gym – this is definitely what gives us the opportunity to attract a specific segment of clients. We provide our guests with a place to relax.

We are, if I may say so, part of the new generation of ibis hotels.

ibis hotel view

INTERVIEW WITH XAVIER CAPPELUT, DIRECTOR OF OPERATIONS FOR MIDDLE SCALE & ECONOMIC BRAND HOTELS, ACCORHOTELS

Question: AccorHotels is home to many brands. Why did you choose the ibis brand for this particular project?

Mr. Cappelut: I think this is a very unique location. The guests who choose to stay close to the airport have very specific needs. They might be in transit for a few hours, they might be spending their last night in Vietnam after a trip. We believe the level of comfort provided by ibis is just the right amount for these specific customers.

And the beauty of a brand like ibis is: you can travel anywhere in the world, you will find the same layout, the same service, the same comfort. Guests choose ibis because they know exactly what they can expect. That’s a guarantee that we provide to our customers. And they appreciate it.

Question: Vietnam is a country with an immense potential for tourism. How does ibis Saigon Airport serve this very particular market?

Mr. Cappelut: Vietnam is very important to us as a group. We, AccorHotels, have been in Vietnam since 1991. Back then, we were the only international hospitality company in Vietnam. That shows how committed we are to Vietnam as a business location.

And today, this country is developing at a dizzying pace. Last year, there was a 26% increase of international visitors and a 9% growth in the domestic market in Vietnam.These are incredible numbers.

And of course, we try to attract Vietnam’s domestic guests. The ibis brand perfectly caters to them because it is a functional, but full-service product that offers “Value for Money”.

Ibis Saigon Airport is quite simply the right product in the right place at the right time. And it is highly visible. In fact, we couldn’t be more visible than here at the airport. In that sense, ibis Saigon Airport is Accor’s flagship in Vietnam.

ibis hotel room

AccorHotels’ journey in Vietnam is far from over. In the next two years, the group plans to open another 12 hotels all over the country, which will bring its total portfolio to 36. But thanks to its eminent location next to one of Vietnam’s most important travel hubs and its many amenities, ibis Saigon Airport is undoubtedly a go-to for all Ho Chi Minh City-bound travellers.

 


Tall Towers: Saigon’s Race to the Clouds

By: Jesus Lopez Gomez

Saigon’s skyline is defined by a few standout tall towers concentrated in District 1. Peering over Ho Tung Mau street is the city’s third tallest tower, the 40-storey Saigon Times Square. Nearby at the half-moon of road around the Tran Hung Dao warrior statue is the Vietcombank Tower Saigon, the second tallest tower in the city and the seventh tallest tower in the nation.

At 258 metres, Bitexco Financial Tower comes in first. It is about 100 metres taller than third place and about 50 metres taller than Vietcombank Tower Saigon.

Though, all that may soon change.

Even accounting for all the planned towers in Ho Chi Minh City, Bitexco Financial Tower will still remain among the tallest structures in the city, but the incoming Ben Thanh Towers at 235 metres and the 195 metre-high Saigon One Tower are formidable competitors. The city’s iconic lotus-shaped tower will eventually be dethroned for tallest tower by the 461-metre Landmark 81.

Not only will it be the tallest tower in Vietnam, but the tallest in Asia by a petty amount: the development that currently holds that title is Kuala Lumpur’s iconic Petronas Towers, which will be a mere 20 centimetres shorter than Landmark 81.

But when will these towers be finished? What exactly will the skyline look like when it’s done?

Let’s dive deep into Saigon’s towers and gaze into the future.

Ben Thanh Twin Towers

The Ben Thanh Twin Towers project—not to be confused with the Ben Thanh Tower Condo, which has the Air 360 Sky Lounge at the top—will one day be two daring spires designed like a pair of postmodern sculptures overlooking the roundabout in front of Ben Thanh Market.

For now, however, it’s a walled off plot of half-laid foundation and dirt.

Bitexco Group began the Ben Thanh Twin Towers in 2012. They were planned as a 55-storey mixed-use development: the majority of the space would be dedicated to condominiums, but the tower would also be the home of office and retail space.

towersImage source: images.millenin.com

Total investment at the time was about $400 million. The project was expected to be completed in 2015.

The conceptual design seems a little haphazard, but the building’s planners have actually designed it with intentional symbolism.

The project’s two towers symbolise the popular Vietnamese symbol of two dragons. This well-known iconography depicts a pair of entwined dragons circling towards a sun. It’s a common image at pagodas and other prominent cultural locations, like the Hanoi Ceramic Mosaic Mural. The dragon is frequently associated with flight, ascendance and progress.

Similarly, important Vietnamese sites like Ha Long Bay have incorporated the word dragon into their names (the Vietnamese word long means “Dragon” in English).

A popular Vietnamese saying: Rồng gặp mây translates to “Dragon meets the clouds,” meaning something is in a favourable condition.

The project’s two towers will reach 235 metres and 225 metres—touching the clouds, indeed.

When Will It Be Finished?

The project is now expected to be completed in 2020, according to Bitexco Group’s website.

A Bitexco group representative confirmed the new timetable for #iAMHCMC in a phone interview, but wouldn’t go into more details on why the project has been delayed for as long as it has. They noted that builders have nearly finished the basement portion of the Ben Thanh Towers.

Empire City

Also arriving in 2020 is the Empire City project. This 14.5-hectare city-within-a-city development features a shopping mall, an office campus and a 5-Star hotel. The crown jewel of the development is an 88-storey building that will lord over the new development named Empire 88.

towersImage source: lonelyplanetwpnews.imgix.net

For now, the building’s planned height will make it taller than the in-progress skyscraper that’s also vying for the title of tallest tower, Landmark 81. However, the Empire 88 will top out at 333 metres, significantly less than the 461-metre Landmark 81.

It’s not only height that defines this tower, but also a groundbreaking design that brings green elements into the project. And we’re not talking about solar panels or sustainable materials.

The name “Sky Forest” comes from the buildings’ use of actual trees and plants about two-thirds of the way up the Empire 88 building. At this height, the building will have five square-ish platform shaped floors jutting out of the building that will be covered with living plants and trees.

Dubbed the “Sky Forest” by the architecture firm leading the design Büro Ole Scheeren, the international architecture firm unveiled the proposed design last November.

towersImage source: cdn.wallpaper.com

Concept drawings show the Empire 88 tower along with a group of three towers arranged around the terraced public space rich with plants and trees. The architects said they wanted to capture the feel of Sapa’s iconic, terraced rice paddies. The architects have planned a multi-tier, stacked park with graduated platforms. Viewed from above, the space might mirror something like a fingerprint with the platforms’ edges creating continuous lines that wind through the three Empire City towers.

When will it be finished?

The Keppel Land-led project expects to open its first residential properties in the second quarter of 2020.

The 88-storey tower should not be too far behind.

Keppel Land reports that 680 units within the Empire City project have already been sold to prospective residents.

Landmark 81

The Landmark 81 tower had been scheduled to “top out”—the phrase used in skyscraper construction where the highest element has been constructed—in May. But builder Coteccons hit that landmark 45 days ahead of schedule by giving Ho Chi Minh City an architectural asset now taller than the Petronas Towers in Kuala Lumpur. With the 61-metre spire at the top of the building, Landmark 81 stands at 461 metres, about 10 metres taller than the Malaysian towers.

The 81-storey tower is the centrepiece of the Vinhomes Central Park project in Binh Thanh District.

While it remains under construction, developers have been quick to point out that this will not only be the tallest building in Vietnam but the 23rd tallest in the world.

towersImage source: en.vinhomestancang.co

The Vingroup-owned, US$1.5-billion tower is being built with a cinema, indoor skating rink, gym and clubhouse for residents, including a pool, gym, spa and outdoor lounge. Residents will be able to choose from apartments with up to four bedrooms.

The architectural design appears like a cluster of bars consolidated around a tall steeple. The result is a building of staggered heights facing towards the Saigon River. On their website, Atkins, the British architecture firm who designed the project calls it “modern and unusual,” a symbol of the rapid ascendance of Ho Chi Minh City. Retail developments will be the base of the building.

towersImage source: ccr.vn

Even before the building is completed, the development had already amassed awards. Landmark 81 garnered the “best residential high-rise development Asia Pacific” at the Asian Pacific Property Awards 2016. “Atkins is proud to be involved in this award-winning project for Vingroup, as it represents a new benchmark in high-quality, sustainable, high-density, vertical living. This building type will be particularly important as Asia moves forward,” said in remarks reported in a press release created concurrently with the award.

Video source: DC Film

When will it be finished?

The project appears to be on track to finish construction by this year. When completed, it will be only one metre shorter than the Lakhta Center in St. Petersburg, Russia, the 22nd tallest tower in the world. It will be less than 10 metres taller than the 24th placeholder, the Changsha IFS Tower T1 in Changsha, China.

Banner Image source: lonelyplanetwpnews.imgix.net


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