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Close-up of super projects and real estate in the center of Ho Chi Minh City related to Van Thinh Phat

Báo Sài Gòn Giải phóngBáo Sài Gòn Giải phóng25/11/2023


SGGPO

On October 8, 2022, the Ministry of Public Security's Information Portal announced that the Ministry of Public Security's Investigation Police Agency issued a decision to prosecute the case, prosecute the accused, issue an arrest warrant to detain and search the residence of Ms. Truong My Lan, Chairwoman of Van Thinh Phat Group to clarify the crime of "Fraudulent appropriation of property" under Article 174 of the Penal Code 2015, amended and supplemented in 2017.

Then, on November 18, 2023, the authorities issued an investigation conclusion, proposing to prosecute 86 defendants in the case related to Van Thinh Phat Group, Saigon Commercial Joint Stock Bank (SCB) and related units.

In the center of Ho Chi Minh City, many real estate projects are related to Van Thinh Phat Group.

Toà nhà Union Square nằm ngay đầu tuyến phố đi bộ Nguyễn Huệ, quận 1. Ảnh: ĐỨC TRUNG

Union Square building is located at the beginning of Nguyen Hue walking street, District 1. Photo: DUC TRUNG

First of all, we must mention the Union Square building located right at the beginning of Nguyen Hue walking street, with 4 frontages on Nguyen Hue, Le Loi, Le Thanh Ton, Dong Khoi streets (District 1). The building is located near the headquarters of the People's Council and People's Committee of Ho Chi Minh City, and was bought by Van Thinh Phat Group in June 2013, for a sum of up to 10,000 billion VND.

Toà nhà Công ty CP đầu tư Times Square với khách sạn 6 sao đầu tiên ở TPHCM. Ảnh: ĐỨC TRUNG

Times Square Investment Joint Stock Company building with the first 6-star hotel in Ho Chi Minh City. Photo: DUC TRUNG

Also located on Nguyen Hue walking street, the Times Square Investment Joint Stock Company building with the first 6-star hotel in Ho Chi Minh City (26-36 Nguyen Hue, District 1) is chaired by Mr. Chu Lap Co (Ms. Truong My Lan's husband). The project was arranged by Ms. Truong My Lan for Mr. Co to use as collateral and to extend the mortgage for loans requested by Ms. Lan at SCB. In the center of District 1, this building can be said to be the most "monstrous" and extremely luxurious.

Toà nhà VTP Building (8 Nguyễn Huệ, quận 1). Ảnh: ĐỨC TRUNG

VTP Building (8 Nguyen Hue, District 1). Photo: DUC TRUNG

A few dozen meters from the aforementioned 6-star hotel, the VTP Office Service Center at VTP Building (8 Nguyen Hue, District 1) is among the projects on the "golden land" of Nguyen Hue Street related to Van Thinh Phat Group.

Toà nhà số 19-25 Nguyễn Huệ (quận 1), là nơi SCB đang hoạt động. Ảnh: ĐỨC TRUNG

Building No. 19-25 Nguyen Hue (District 1), where SCB is operating. Photo: DUC TRUNG

Opposite the VTP Building, the building at 19-25 Nguyen Hue (District 1) is also massive and towering, where SCB is operating.

Cao ốc Sherwood Residence tọa lạc ngay mặt tiền đường Pasteur (quận 3), được cho là nơi ở của vợ chồng bà Trương Mỹ Lan trước khi bị bắt. Ảnh: ĐỨC TRUNG

Sherwood Residence building is located right on Pasteur Street (District 3), believed to be the residence of Ms. Truong My Lan and her husband before being arrested. Photo: DUC TRUNG

Sherwood Residence (127 Pasteur Street, District 3) is a tourist apartment building with 240 apartments (including 12 penthouses) equipped with furniture and many living and entertainment facilities available 24/7. Before being arrested, Ms. Lan and her husband were said to be living in the penthouse of this building, owned by Van Thinh Phat Group.

Căn biệt thự cổ 3 mặt tiền, nhìn từ phía đường Võ Văn Tần (quận 3). Ảnh: ĐỨC TRUNG

The ancient villa with 3 facades, viewed from Vo Van Tan street (District 3). Photo: DUC TRUNG

The ancient villa at 110 - 112 Vo Van Tan (District 3) has an area of ​​nearly 3,000m2 with 3 street frontages: Vo Van Tan - Ba Huyen Thanh Quan - Nguyen Thi Dieu. In 2015, Ms. Truong My Lan, through MINERVA Joint Stock Company, bought this ancient villa for 35 million USD (about 700 billion VND). MINERVA Joint Stock Company was established on July 28, 2015 with a charter capital of 200 billion VND.

Immediately after purchasing this villa, Ms. Truong My Lan had it restored to its original state in 2019. The Ho Chi Minh City Department of Construction granted a construction permit to Singapore's Stonewest Limited as the contractor for the project. Because the ancient villa is on the conservation list, the owner of the project is only allowed to restore and repair the original state and is not allowed to rebuild. The security guard here said that after Ms. Truong My Lan was arrested, the authorities came to work here and the contractor announced the closure of the project and stopped construction. According to observations, there were no more workers inside but materials and machinery were still scattered. A few security guards were kept here to protect the project.

An Đông Plaza, trung tâm thương mại nổi tiếng ở quận 5 những năm trước đây. Ảnh: ĐỨC TRUNG

An Dong Plaza, a famous shopping mall in District 5 in previous years. Photo: DUC TRUNG

An Dong Plaza Shopping Center and Windsor Plaza 5-star Hotel (18 An Duong Vuong Street, District 5) are also owned by Van Thinh Phat Group. An Dong Plaza and Windsor Plaza 5-star Hotel have a total investment of nearly 1,300 billion VND, with a 25-storey building and a trade and conference center. Windsor Plaza is the first hotel invested and managed by the Vietnamese private sector, meeting the 5-star standard of the Vietnam National Administration of Tourism (former name).

Thuận Kiều Plaza (quận 5), nay được đổi tên là The Garden Mall. Ảnh: ĐỨC TRUNG

Thuan Kieu Plaza (District 5), now renamed The Garden Mall. Photo: DUC TRUNG

Thuan Kieu Plaza (District 5) was acquired by An Dong Joint Stock Company (a subsidiary of Van Thinh Phat Group) in 2015 and renamed The Garden Mall. The project is a high-rise building with a total construction area of ​​10 hectares, including 3 towers 33 floors high with 648 apartments. Built from 1994 to 1999, Thuan Kieu Plaza is a complex of 3 towers located on Hong Bang Street, right in the prime land of District 5 center. This place is considered one of the first complex high-rise buildings to be built and was once considered a symbol of development of Ho Chi Minh City.

Dự án Saigon One Tower, được khởi công xây dựng từ năm 2007. Năm 2021, Công ty Viva Land mua lại, đến nay vẫn "đứng hình". Ảnh: ĐỨC TRUNG

Saigon One Tower project, which started construction in 2007. In 2021, Viva Land Company bought it, but it is still "frozen". Photo: DUC TRUNG

Saigon One Tower started construction in 2007 with a height of 195m (41 floors), once ranked in the top 10 tallest buildings in Vietnam and the top 3 tallest buildings in Ho Chi Minh City (after Bitexco Financial Tower and Vietcombank Tower, when Landmark 81 did not exist). Located at the corner of Ham Nghi - Ton Duc Thang - Vo Van Kiet (District 1), the project was expected to become an architectural symbol of the splendid city. The Saigon One Tower project was renamed IFC One Saigon and was acquired by Viva Land (a member of the Van Thinh Phat ecosystem) at the end of 2021.



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