The Ho Chi Minh City People’s Committee granted an investment licence to the Empire City project worth US$1.2 billion inside the city’s Thu Thiem urban zone on June 30.
Covering 14.5 hectares, the complex will include a trade centre, five-star hotel, office building, apartment building and underground parking lot. The highlight of the project will be an 86-storey skyscraper, developed to be an observatory tower.
Construction on the project is expected to begin within this year and be completed in 2022 through four phases.
Chief Executive Officer of the Empire City Joint Venture Vo Sy Nhan said the company is working hard to carry out all necessary administrative procedures to facilitate groundbreaking of the project by the fourth quarter of this year.
Vice Chairman of the municipal People’s Committee Nguyen Huu Tin hailed the importance of the project in completing the infrastructure system and landscape in the new urban zone.
He asked departments and agencies to facilitate the implementation of the project.