City gets 1st below ground parking
Construction on HCM City's first underground parking space is expected to start this month after an investment certificate was issued in March.
Ha Noi-based Dong Duong Co. Ltd. received the certificate from the city People's Committee to build a 12-storey multi-purpose parking and retail space under Lam Son Square near the Opera House in District 1.
The 1,340sq.m space will be 36.5m deep and include seven floors for parking, one trans-shipment floor, and four floors for shops, restaurants and other retail services.
When complete two years from now, the VND183 billion (US$ 11.4 million) parking lot will be fully automatic and house nearly 300 cars.
Several incentives have been offered to the investor, including exemption from land rental fees and the authority to set the parking fees. The life span of the structure is estimated at 50 years.
Source: Vietnam News
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