IFC One Saigon, formerly named Saigon M&C Tower, Saigon One Tower, is an under construction high-rise building located at 34A Tôn Đức Thắng Boulevard,

Ho Chi Minh City , population_density_km2 = 4,292 , population_density_metro_km2 = 697.2 , population_demonym = Saigonese , blank_name = GRP (Nominal) , blank_info = 2019 , blank1_name = – Total , blank1_ ...

Vietnam Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making i ...

. The tower was invested by Saigon M&C and

Dong A Bank Dong or DONG may refer to: Places * Dong Lake, or East Lake, a lake in China * Dong, Arunachal Pradesh, a village in India * Dong (administrative division) (동 or 洞), a neighborhood division in Korea Persons *Queen Dong (1623–1681), prince ...

, totals approximately $228 million

USD The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...

. The building was designed to be a 41-storey tower with three functions. The tower covers of land, right on the bank of the

Saigon River The Saigon River ( vi, Sông Sài Gòn) is a river located in southern Vietnam that rises near Phum Daung in southeastern Cambodia, flows south and south-southeast for about and empties into the Soài Rạp, which in its turn empties into th ...

. The tower's construction started in 2007 and was expected to be completed in 2012. Saigon M&C would have become one of the highest priced real estate developments in Vietnam and was expected to be the second tallest building in Ho Chi Minh City after

Bitexco Financial Tower Bitexco Financial Tower ( vi, Tháp Tài chính Bitexco) is a skyscraper in Ho Chi Minh City, Vietnam. At its completion in 2010, it became the tallest building in Vietnam and kept this status until January 2011, when it was surpassed by Keangna ...

. However, construction works has halted since 2011 with the building 80% complete. In 2017, outstanding debts of the developer totaling over VND 7,000 billion were sold to the Vietnam Asset Management Company for VND 680 billion (US$ 29 million). After defaulting on the debts, the building was seized by the Vietnam Asset Management Company and put up for auction. The developers are on trial for falsifying documents which were used to secure the loans from Dong A Bank. According to city construction department, the Saigon One Tower and other stalled or delayed projects in the city are a result of the

2008 financial crash 8 (eight) is the natural number following 7 and preceding 9. In mathematics 8 is: * a composite number, its proper divisors being , , and . It is twice 4 or four times 2. * a power of two, being 2 (two cubed), and is the first number of t ...

. In 2021, the tower was acquired by Viva Land and renamed IFC One Saigon, and is currently under construction as a mixed used development. The building will contain offices, residential and serviced apartments, and retail outlets.

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List of tallest buildings in Vietnam This list of tallest buildings in Vietnam ranks skyscrapers in Vietnam by height. The tallest building in Vietnam is the 81-storey Landmark 81 in Ho Chi Minh City, which was completed in 2018 at the height of . It is the seventeenth tallest buil ...

References

External links

Saigon One Tower website
Unfinished buildings and structures Skyscrapers in Ho Chi Minh City Skyscraper office buildings in Vietnam Residential skyscrapers {{Vietnam-struct-stub