HCM City Plans US$95.6M First Underground Car Park
The Ho Chi Minh City People’s Committee is seeking the Ministry of Planning and Investment’s approval for building an underground car park worth VND1.74 trillion (US$95.6 million).
The project, the first of this kind in the city, aims to build a multi-storied underground parking lot in District 1’s Le Van Tam Park.
The parking area will be built on a site of 103,200 square meters, consisting of eight floors with five used for car parking and technical infrastructure, and the remainder for shopping and other services.
The project, approved the prime minister in 2005, will be carried out in the BOT (Build-Operate-Transfer) form.
The project’s investors will be offered many priorities such as tax incentives, fixed asset amortization and land-sue preferences. (HCM City Law)
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