HCM CITY — Construction began yesterday of the US$100 million SC VivoCity Shopping Mall in HCM City's District 7.
It is a joint venture between two leading retailers: the local Sai Gon Co.op Investment Development JSC (SCID) and Singapore's Mapletree Investments Pte Ltd, a subsidiary of Temasek Holdings.
"SC VivoCity shopping mall combines Mapletree's management experience in commercial complexes and shopping malls across Asia with Sai Gon Co.op's retail experience and understanding of the Vietnamese market," Nguyen Ngoc Hoa, chairman of SCID, told the ground-breaking ceremony.
"Hopefully SC VivoCity will become a truly international retail and leisure destination in HCM City."
Situated on Nguyen Van Linh Boulevard, SC VivoCity will measure 72,000sq.m spread over five floors and a basement.
The architecture and interior design are by US-based HOK, one of the world's largest design firms.
When it opens in the first quarter of 2014, the mall will have fashion retailers, a hypermarket, a cineplex, as well as lifestyle, entertainment, education, and food and beverage outlets.
It will also have a skypark and a children's playground on the roof. — VNS