http://www.businesstimes.com.sg/premium/...t-20141003
PUBLISHED OCTOBER 03, 2014
KepLand starts work on office levels of Saigon devt
BYLEE MEIXIAN
leemx@sph.com.sg @LeeMeixianBT
Landmark: Artist's impression of Saigon Centre in Ho Chi Minh City, Vietnam. The mixed-use development's Phase 2 tower will be 42 storeys tall. - FILE PHOTO
KEPPEL Land on Thursday said that it is progressing into the next phase of developing its 42-storey Saigon Centre Phase Two with work starting on 37 storeys of offices and serviced apartments in its landmark mixed-use development in Ho Chi Minh City.
The retail podium, currently under construction, has a pre-commitment of about 40 per cent. Anchor tenant Takashimaya will house its first department store in Vietnam here, taking up about 15,000 square metres. Aside from the podium, the tower has four more storeys of retail space.
Saigon Centre Phases One and Two are jointly owned by Keppel Land, Toshin Development and Vietnamese partners Southern Waterborne and Transportation Corporation and Saigon Real Estate Corporation. Keppel Land holds a 45.3 per cent stake in the development.
Keppel Land last month announced that it will divest its one-third stake in Marina Bay Financial Centre Tower 3 to Keppel Reit for S$1.248 billion.