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for VND 680 billion (US$ 29 million). After defaulting on the debts, the building was seized by
Vietnam Asset Management and put up for auction. The developers are on trial for falsifying documents that were used to secure the loans from Dong A Bank.
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In 2021, the tower was acquired by Viva Land and renamed IFC One Saigon and is currently under construction as a mixed-used development. The building will contain offices, residential apartments, and retail outlets.
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According to the city's construction department, Saigon One Tower and other stalled or delayed projects in the city are a result of the
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Glass installation has been completed. As of 2 September 2022, remaining construction is pending government inspection.
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444:"High-profile real estate projects on sale in Ho Chi Minh City amidst COVID-19"
470:"Debt firm auctions off seized high-rise in Saigon to clear $ 308mn bad loan"
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536:"Saigon's Infamous 'Ghost Tower' Has a New Developer | Saigoneer"
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This article about a
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510:"HCMC to remove city center administrative roadblocks"
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516:. 29 September 2020
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597:31 August
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