April 26, 2012. Bitexco, a multi-industry group, announced on April 26 that it will pour US$ 500 million into a trade centre-office-residential complex to be built in district 1, HCM City.
The General Director of Bitexco Group, In-Suk Ko, said that The One Ho Chi Minh City will get off the ground on April 27, covering a total area of 8,600 square meters.
The complex will include two towers of 55 and 48 stories, a trade centre, offices, and apartments for rent, and a six-star Ritz Carlton hotel.
According to Bitexco Group, the project has demonstrated its determination to maintain and develop investment activities, in spite of difficulties
in the national economy and instability in the real estate market.
The complex is expected to be completed and put into operation by 2015.
It will be the firm’s fourth building project in HCM City, after Bitexco Office Tower, The Manor, and the Bitexco Financial Tower.
In Hanoi, Bitexco is developing the $130 million J.W. Marriott Hotel, with a New York-based team including (design: Carlos Zapata Studio, structural engineering: Leslie E. Robertson Associates, construction management: Turner International).
Established in 1985 as a textile firm, Bitexco has become a multi-industry corporation. It covers real estate investment and development, hydro-power plants, infrastructure, mining and mineral water production.