HCMC – A twin-tower project across the landmark Ben Thanh Market in downtown HCMC has restarted construction after years in limbo, with completion expected in about 30 months.
Newtecons said that it and its affiliate SOL E&C resumed work on the project last weekend.
The complex includes two towers rising about 235 meters, with six basement levels and a direct connection to a metro station at basement B1. It will comprise commercial space, offices, branded residences and a hotel.
Newtecons is the main contractor, while SOL E&C handles construction and BM Windows is responsible for facade and aluminum-glass works.
The project is built on an 8,600-square-meter site with the front side facing Ben Thanh Market, with an initial investment of about US$500 million. The two towers are linked by a podium, with one designated for offices and a hotel, and the other for condos and a hotel.
Bitexco launched work on the project in 2013 with completion expected in 2017, but construction stopped after the basement was completed. In 2018, the developer transferred the project to Saigon Glory Company, which restarted it in 2020 before halting again after adding a few floors.
The project was later renamed as One Central HCM and transferred to Viva Land, part of the Van Thinh Phat ecosystem, before being suspended following legal issues in 2022.
By late 2024, Bitexco transferred its entire stake in Saigon Glory to Phuong Dong Hanoi Real Estate Company, a company within the Masterise ecosystem.
In November 2025, the HCMC People’s Committee approved an adjustment and extended the project timeline by 48 months, and assigned the Department of Construction to complete procedures for its restart.
