Invite to appraise Saigon One Tower project assets

In August 2022, the investor of Saigon One Tower replaced the glass layer and the Department of Construction Inspectorate said that the investor only installed new glass for urban beautification, other items were not allowed. After that, the project was "frozen" until now - Photo: QUANG DINH

The Saigon One Tower project is located at 34 Ton Duc Thang (District 1, Ho Chi Minh City). According to the document of the Ministry of Natural Resources and Environment, the invitation to appraise the above assets is based on the request for asset valuation by the Investigation Police Agency of the Ministry of Public Security.

According to the Council for Asset Valuation in Criminal Proceedings at the ministerial level, the determination of asset value for the Saigon One Tower project includes parameters such as the value of the right to use 6,342m² of land at 34 Ton Duc Thang determined at 5 points in time.

Specifically, the time of capital contribution on March 31, 2004, the time of land recovery and land lease on June 5, 2006, the time of changing the form of land use from land lease to land allocation and land lease on December 31, 2008, the time of divestment of 30% of the State capital of Saigon Tourism Corporation at M&C Real Estate Joint Stock Company on June 22, 2015 and the time of September 12, 2023.

The Asset Valuation Council will organize a public bidding to select a contractor with sufficient capacity and experience to implement the package "Consulting on determining the price of land use rights and the value of the Saigon One Tower project at the land plot at 34 Ton Duc Thang, District 1, Ho Chi Minh City" according to the asset valuation request of the Investigation Police Agency.

As Tuoi Tre Online reported, the Saigon One Tower project is located at the Ton Duc Thang - Ham Nghi intersection right next to the Saigon River and was expected to be the third tallest building in Ho Chi Minh City at the time of construction.

This building was previously invested by Saigon M&C Real Estate Joint Stock Company, with a total investment of 256 million USD and started construction in 2007, expected to be completed in 2009, but when it was 80% completed, it suddenly stopped in 2011.

City leaders also named this building as "the building that makes Ho Chi Minh City look ugly". After being bought by Viva Land, the investor replaced the outer glass of this project, making people hope that the project will be revived.

However, a representative of the Ho Chi Minh City Department of Construction said that the project only allows the investor to install new glass to replace the old, degraded glass on the outside of the building to ensure safety and urban beautification. Other items cannot be done because they are still waiting for the conclusion of the Government Inspectorate and a construction permit.

Because Viva Land is a member of the Van Thinh Phat ecosystem, when Ms. Truong My Lan got into trouble with the law, this project was once again "shelved" in the center of the city.

Source: https://tuoitre.vn/moi-dinh-gia-tai-san-du-an-sai-gon-one-tower-20241015140213547.htm