Bitexco Group to construct a US$44-million hospital to own the most expensive land lot
By Nga Vu
August 06, 2017 | 10:49 PM GMT+7
The People's Committee of Ho Chi Minh City (PCHCMC) has approved the the feasibility study of New Sai Gon hospital construction and investment project with total estimated investment capital over VND1 trillion (equivalent to US$44-million).
Existing Sai Gon Hospital is located on No. 125 Le Loi, district 01. Photo: Internet
This project is under the public-private partnerships (Build-Transfer contract) with three-year construction period from 2017 to 2020.
New Saigon hospital will be built on the gross construction area of 36,000 square meters for an estimated 300 hospital beds with modern and hi-tech equipment. The hospital will be located at the intersection of Nguyen Trai - Cong Quynh under Nguyen Cu Trinh Quadrangle Complex (better known as Ma Lang area covering 6.5 hectares), district 01, HCMC.
Currently, the existing Sai Gon hospital is located at land lot No. 125 Le Loi, district 01, covering the total area of 5,443m2. This is one of the most prime locations in HCMC.
In 2007, the PCHCMC approved Bitexco Group’s policy on investment and construction of a complex of office buildings, shopping centers and 5-star hotels with a maximum of 45 stories on the current location of existing Sai Gon hospital. In return, Bitexco Group has to spare 01ha of land in Ma Lang area to build New Saigon hospital with the aforementioned scale.
The PCHCMC will hand-over the land lot at No. 125 Le Loi to Bitexco Group for its payback in accordance with regulations when New Sai Gon hospital is completely constructed and handed over to the PCHCMC.
According to the recent temporary price calculated by PCHCM, the land lot at No. 125 Le Loi costs about VND1,763 billion (roughly US$63,5 million) equivalent to VND326.4 million per square meter.
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