The People’s Committee of Ho Chi Minh City has allowed the Underground Space Development Investment Corporation (IUS) to carry out a project to build an underground car park in District 1.
The project, the first of its kind in the country, will be conducted in the form of build-operate-transfer with an investment capital of over 1.7 trillion VND (97 million USD).
Construction of the project is scheduled to start in late February and is expected to be completed in 2012.
The 103,225 sq.m five-storey park will be capable of accommodating 2,025 motorbikes, 1,250 cars and 28 buses or trucks.
Ho Chi Minh City is home to some 370,000 cars and 3.7 million motorbikes. The number of registered vehicles in the city increases by 12 percent each year with about 120 new cars and 1,200 new motorbikes every day while parking space in the city, especially in downtown districts, is insufficient.
The city’s authority expected that the car park will effectively help reduce traffic jam in the city./.
The project, the first of its kind in the country, will be conducted in the form of build-operate-transfer with an investment capital of over 1.7 trillion VND (97 million USD).
Construction of the project is scheduled to start in late February and is expected to be completed in 2012.
The 103,225 sq.m five-storey park will be capable of accommodating 2,025 motorbikes, 1,250 cars and 28 buses or trucks.
Ho Chi Minh City is home to some 370,000 cars and 3.7 million motorbikes. The number of registered vehicles in the city increases by 12 percent each year with about 120 new cars and 1,200 new motorbikes every day while parking space in the city, especially in downtown districts, is insufficient.
The city’s authority expected that the car park will effectively help reduce traffic jam in the city./.
