Passing the project site last week, VIR saw some cranes belonging to the main contractor – HIGS yet no activity was visible.
The basement of the building have been complete but the site has stayed quiet for more than a year.
The project site is covered with wild grass and steel poles have begun to be eroded by the elements.
Ciputra Hanoi Mall is part of Ciputra Hanoi International City, which is developed by Citra Westlake Development Company.
In an area of 7.3 hectares, the mall was designed to provide more than 130,000 square metres, encompassing a hypermarket, a cineplex, department store, spa and fitness center, kids zone, a bowling alley, karaoke, food court and fine dining restaurants.
Starting at the end of 2007 the centre was expected to be put into operation by 2010. VIR has tried to contact Citra Westlake Development Company for a few weeks but no one was available for comment on whether the developer was short of cash to carry out the mall’s construction.
Ciputra Hanoi International City , next to Hanoi’s West Lake, is one of the largest real estate projects in Vietnam with registered investment capital of approximately $2.1 billion. Developed by a joint venture between domestic Urban Infrastructure Development Investment Company and Ciputra Corporation of Indonesia, the developers planned to build a total of 50 apartment towers, 2,000 landed houses, a hospital, schools, a shopping and trade centre, and an office complex by 2015.