A realty developer has proposed building a park and underground trade center near a famous tourist wharf in downtown Ho Chi Minh City.

The proposal by Van Thinh Phat Group seeks to build the complex along the Saigon River near Bach Dang Wharf in District 1 around the area running from the Ton Duc Thang Museum to the Ton Duc Thang – Ham Nghi intersection.

While there is already an existing public park in that area, Van Thinh Phat Group wants to turn the space into a more modern venue.

The proposed project has a total area of 17.08 hectares, with 7.02 hectares as part of the aboveground park and an additional 10.06 hectares over water surface of the Saigon River.

In addition to the trade center planned to be built beneath the park, the complex is also expected to include an underground parking lot and tourism wharf.

The developer said it will cover all expenses related to the preparation of the project’s proposal.

Once the infrastructure of the project is completed, Van Thinh Phat Group plans to seek permission to operate part of the trade center and the parking lot, as well as several food courts at the new park.

The location of the proposed project of Van Thinh Phat Group is in fact part of a 930-hectare area already zoned as a special region in Ho Chi Minh City’s urban planning.

According to the zoning regulations, that 930-hectare area must consist of no private land plots and all facilities built must follow strict rules and be meant for public use.

As Van Thinh Phat proposition seems to contradict these conditions, the Ho Chi Minh City administration has tasked District 1 authorities with working with relevant agencies to study the group's proposal.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!