On November 12, Nguoi Dua Tin was present at the area of the Iron Market Complex Project (Iron Market Project) in Phan Boi Chau Ward, Hong Bang District, Hai Phong City. The previously deserted scene due to the project being suspended was replaced by the rumbling of machinery and the laughter of a group of workers and engineers.
Talking to us, Mr. Nguyen Cuong Thinh - the officer in charge of the Iron Market Project of Saigon Match Garment Joint Stock Company (investor), said that after relocating businesses and demolishing the old Iron Market, to avoid the construction process affecting surrounding structures, the contractor dug down more than 30 meters to build a fence around the project.
After completing the above tasks in June 2022, the contractor was forced to stop construction because he was waiting for the Hai Phong City People's Committee to adjust the planning according to regulations. On October 24, 2023, Mr. Nguyen Van Tung - Chairman of the Hai Phong City People's Committee signed Decision No. 3413/QD-UBND approving the local adjustment of lot H5.2/CC-2 in the detailed planning adjustment project at a scale of 1/2,000 of Hong Bang district and its expansion until 2025 (2nd time).
The contractor prepares machinery and human resources to drill bored piles with a depth of more than 70 m at the Cho Sat Project in Hong Bang District, Hai Phong City.
“Currently, Saigon Match Garment Joint Stock Company is urgently completing procedures according to regulations under the authority of the Ministry of Construction to continue construction of the Iron Market Project. Since the beginning of November 2023, the Company has requested the contractor to arrange machinery, human resources, materials, and develop a construction plan to ensure the progress of the Project.
Currently, the contractor is preparing to drill bored piles with a depth of more than 70 m. Next, the construction of the 2 basement floors of the Cho Sat Commercial Center Complex will be organized, expected to be implemented in 2023", Mr. Chu Ngoc Minh - General Director of Saigon Garment and Match Joint Stock Company informed.
According to information from the People's Committee of Hai Phong City, the locality requires the investor to complete the project within 36 months from the date of land allocation. Thus, it is expected that by the end of 2025, Hai Phong City will have a large and impressive complex of commercial centers, entertainment, 5-star hotels and offices for rent to replace the Iron Market - a one-time symbol of the Red Flamboyant City.
Previously, Nguoi Dua Tin had an article titled “The 6,000 billion VND project to replace the Iron Market that has been “dormant” for a long time” with the content that, over time, the old Iron Market has not kept up with the local development nor ensured safety for business households.
Therefore, Hai Phong City planned a large, modern commercial center complex to replace it. To continue the tradition, Hai Phong City authorities requested the investor to keep the name "Sat Market" in the commercial name of the project.
Mr. Nguyen Cuong Thinh (right) - officer in charge of the Iron Market Project of Saigon Garment and Match Joint Stock Company, talked with reporters about the Iron Market Project in Hong Bang District, Hai Phong City.
By July 2021, Hai Phong City People's Committee completed the preparation of the Iron Market Project and organized a public bidding according to regulations. According to Decision No. 3232/QD-UBND of Hai Phong City People's Committee, Saigon Match Garment Joint Stock Company became the investor of the Project.
The project has a total investment of more than 6,000 billion VND with 2 towers of 40 floors above ground and 2 basements built on an area of 1.5 hectares, the construction density of the base block is more than 46%, the construction density of the tower block is 40%, the height of the building is nearly 150 m.
On May 14, 2022, Hai Phong City People's Committee coordinated with Saigon Garment and Match Joint Stock Company to organize the groundbreaking ceremony of Cho Sat Commercial Complex Project on the occasion of celebrating the 67th anniversary of Hai Phong Liberation Day (May 13, 1955 - May 13, 2022) and the 2022 Red Flamboyant Festival.
Expected to be completed and put into operation in 2024, the Iron Market Commercial Complex Project will have many functions: Trade center, entertainment, 5-star hotel, office for rent. In addition, the project will supplement the shortage of culinary services, tourism, static parking and many other services for local people and tourists.
However, after completing the demolition, building the surrounding wall, and leveling the ground in June 2022, the Iron Market Project fell into a state of "inaction" waiting for the Hai Phong City People's Committee to adjust the planning. The 1.5-hectare "golden land" located in a prime location in the center of Hai Phong City is empty and deserted .
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