|Tan Binh Market. — Photo landtoday
HCM CITY (VNS) — HCM City has decided to clear the traditional, 22,000-square-metre Tan Binh Market and replace it with a modern six-storey structure and 17-floor trade centre.
It is estimated to cost VND4 trillion (US$190 million), which will come from the Tan Binh Phu Trading, Service and Real Estate Company, a joint-venture between the Tan Binh District Public Service Company and Tan Quang Limited Company.
The trade centre will be built on 7,000 square metres while the traditional market with 5,000 kiosks will occupy the rest of the space.
Tan Binh Market was built before 1975 and has been upgraded several times. It has 3,300 kiosks, two-thirds of which measure less than one square metre.
The beehive of a market is highly vulnerable to fire. — VNS