With capital of more than $200 million (nearly VND 5 trillion), Thu Thiem Financial Center Project has attracted many domestic and foreign investors. Currently, the project is still in the process of seeking investors. The construction period is expected to last from 2019-2021.
The financial center is one of 210 real estate projects prioritized by HCMC in 2019.
According to the Department of Planning and Investment of Ho Chi Minh City, Thu Thiem Financial Center is located in two land lots. denoted from 1-7 and 1-11 in the functional area No. 1 of Thu Thiem New Urban Area (District 2). Presided by Thu Thiem management, coordinating with departments and agencies to advise HCMC People’s Committee.
Thu Thiem Financial Center Project belongs to the field of trade and service, with a scale of nearly 14,461m2.
In total, project consists of 2 towers of 20-50 storeys depending on each lot, with each specific planning expenditure. It is estimated that the project will reach an investment of about VND 4,898 billion, equivalent to nearly USD 200 million, implemented from 2019-2021.
Currently, the land plot expected to build a financial center in Thu Thiem new urban area has completed compensation and clearance.
The project is also receiving capital from both domestic and international firms. Domestic enterprises such as Refrigeration Electric Engineering Corporation (REE). HCMC Finance and Investment Company (HFIC), and a consortium of 216 Corporation and Van Phu Invest Company. The foreign enterprises are a consortium of Australia-based Sakkara, Singapore-based GIC and US’s Steelman Partners.
According to experts, HCM City is a financial center of the country. But it has not yet developed into an international center. In addition to developing a financial center, the city should increase the application of technology to its financial services. build more seaports and create favorable conditions for large financial corporations.