Projects lay idle on golden HCMC properties
A number of projects on high-value properties in Ho Chi Minh City have lain idle for many years.
SJC Tower
One such project is the Sai Gon Diamond Corporation’s $137 million SJC Tower. The property has frontages on four of the busiest roads in the city, namely Le Khanh Ton, Nam Ky Khoi Nghia, Nguyen Trung Truc and Le Loi. At current the 3,800 square-metre area is being used as a parking lot.
Another is the Kenton Residences project in the bustling Nam Sai Gon area, invested in by the Tai Nguyen Construction-Production-Trading Company. The project plans to build nine towers of 15-35 stories each that will contain a total 1,640 high-end apartments and a 20,000 sq.m mall. Construction started in June 2009 but has since stopped.
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