Bitexco Builds Tallest Building in Vietnam

3:26:38 PM | 7/8/2005

The Binh Minh Import and Export Company (Bitexco) organised a groundbreaking ceremony for its 60-storey trade, service and financial tower – the Financial Tower at 1 Ho Tung Mau Street, District 1, Ho Chi Minh City. The building has a total floor space of 100,000 square metres in a 5,400 square metre site with a total investment capital of US$96 million. Vu Quang Hoi, president of Bitexco, said that the building would be constructed with steel structures and clad with glass. With its design derived from the beauty of lotus, the building looks like a lotus rising up to the sky. The top section of the building will be lit as a lighthouse. The work is expected to be completed in late 2007.

Vo Trong Hoa, chief architect in Ho Chi Minh City, said that it would be the tallest building in Vietnam. In the shape of a lotus in the centre of District 1, opposite to the Nha Rong Wharf, the building is worthy being the symbol of Ho Chi Minh City in the 21st century.

Tran Bac Ha, director of the Bank for Investment and Development of Vietnam, which provided a syndicated loan, equal to two thirds of the building’s investment capital, said that it was the first time a Vietnamese developer to build one of the tallest building in Southeast Asia with 100 per cent of domestic investment. This has shown the strong development of Vietnamese enterprises.