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Thuan Kieu Plaza Escaped The “Ghost Building”

When news of the building was repaired, the guests came to make reservations for the big crowds.

Only two weeks away, the commercial center at Thuan Kieu Plaza on Hong Bang Street, District 5, Ho Chi Minh City will officially open after nearly 20 years in the state of quiet. This event promises to usher in a new era of work after nearly 20 years of sticking the “suspected” “ghost building” with a series of rumors … cold spine.

From “red” to “green”

As noted by the PV of Ho Chi Minh City, in the last days of July, Thuan Kieu Plaza building is being repaired and renovated a lot of items from outside in. On the surface, the whole building is preserved, unchanged in architecture, but almost the appearance of the building is being completely renovated. Most notably, the work has been repainted blue “shirt” instead of red as before.

Thuan Kieu Plaza project
Thuan Kieu Plaza has been changed to “blue” shirt after nearly 20 years wearing red “shirt”, from “red” to “green”

According to Tong Duc Tien, Head of Licensing Department of the City Construction Department, Thuan Kieu Plaza Building was licensed by the city’s Department of Construction to renovate floors 1 to 3 on June 22, Accordingly, the investor, An Dong Joint Stock Company would like to repair the exterior architecture of the building from floor 1 to floor 3. Specifically, back outside 3m from the road Hong Bang to create ventilation and flower scenes, trees. In the report of the Department of Construction, this setback outside makes the area of trade reduced from more than 12,000 sqm to 10,800 sqm. The investor also requests the installation of three elevators and five stairs inside the building’s podium (commercial center section). Mr. Tien said that this repair and renovation must ensure not increase the floor area, density and coefficient of land use, not affect the bearing capacity of the building.

As noted by PV Law of Ho Chi Minh City, at the end of July, Thuan Kieu Plaza has finished painting and is remaking the entire sidewalk. In addition, many exterior and interior items have been replaced and reworked. At the construction site, many groups of workers are bustling construction, construction materials are horizontal.

Busy to hire people

Although the Thuan Kieu Building is changing its appearance, however, the owner is still very quiet and has not provided any information to the press.

As the customer to the business premises, we call the management of the building. The management of the building said the ground floor area for the restaurant business was already sealed. According to our observation, many international brands in the field of food and beverage are redesigning the site and shipping of goods to be ready for the opening day. Many other stores are also opening the “opening soon”. The building manager also said that the first floor was left with only a few. “The business must be branded in the market and international, then the new lease,” he said. We also asked about renting apartments in Thuan Kieu, but received the answer of the business: “We have not opened the sale and there is no policy on the use of apartments. Business section also informs Thuan Kieu Plaza trade center will officially be opened on August 15.

Asked a beverage seller at the foot of the building, he said that since the Thuan Kieu building started repairing, the guests pulled together to make a large reservation. “It is late for your arrival, people have been hired for the whole month. Often the client usually finishes the restaurant I talk to so I know, “said the owner of the country.

Thuan Kieu Plaza
Workers are hurrying to construct pavements and other items of the center.

Le Hoang Chau, chairman of the HCM City Real Estate Association (Horea), said when An Dong bought the project and found no solution to the problem. Mr. Chau suggested refreshing the project but not in a current way. The plan that Chau proposed is either dam construction or expansion of the project. “I think not only renovating the building but expanding the scope of the project to renovate the street will bring more value to the project. However, the owner did not choose this way. They did as they are now, perhaps well researched. I hope that their business and exploitation will be as expected, “Chau said.

“Profile” Thuan Kieu Plaza

Thuan Kieu Plaza was built on an area of 9,971 sqm. The building consists of three towers, each with 33 floors, including a commercial center, 648 apartments and other facilities such as swimming pool, recreation area, garage … This building is located between 4 routes Hong Bang, Thuan Kieu, Tan Hung, Duong Tu Giang and Do Ngoc Thanh Road running between the works.

In 1994: Saigon Five Building Trade Limited Company (under Saigon Real Estate Corporation) and Kings Harmony Int MTV of Hong Kong joint ventured with a total investment capital of about $55 million.

1999: Completed and put into operation but only a few years later, it fell into a situation of more than a decade. However, investors do not renovate but to this project “clinical death” despite rumors speculation superstition.

In 2013: Van Thinh Phat Group acquired this project and in February 2013, the red book of the project was named An Dong Joint Stock Company.

January 2015: People’s Committee of Ho Chi Minh City has decided for An Dong Joint Stock Company to lease land within 50 years, pay land rent once. The temporary land rent is VND105 billion. By 2016, the investor has paid VND75 billion.

June 2016: The building is licensed by the Department of Construction to renovate. The repair has not been completed yet.

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Thuan Kieu Plaza Escaped The “Ghost Building”
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