Business

Phu My Hung builds mall

Property developer Phu My Hung has begun construction of a 44,000sq.m. shopping centre, the Crescent Mall.
Property developer Phu My Hung has begun construction ofa 44,000sq.m. shopping centre, the Crescent Mall.

It plans to build and operate the mall to international standard once the first phase is completed by next year’s end.

"Once put into operation, Crescent Mall, which will cost 1.8trillion VND (100 million USD), will be Vietnam’s largest shopping mallwith more than 200 shops, a supermarket, restaurants, cafes, cinema,and entertainment space," PMH’s chairman Arthur Ting said.

Canadian firm Design International is the master planner for theproperty designed by Germany’s Kern Architect. US real estate servicesprovider Savills Vietnam will be its manager and leasing agent.

Crescent is part of a larger project worth 200 million USD in thePhu My Hung New Urban Area which will also include several residentialand office buildings.

At the ground-breaking ceremony, Vietcombank, VietinBank, Bao VietBank, Gia Dinh Bank and Asia Commercial Bank signed a deal with Phu MyHung to provide a syndicated 10-year loan of VND1.2 trillion, withVietcombank being the consortium leader./.
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