The groundbreaking ceremony of Cho Mo Trading Center. Photo: Internet

Viet Nam Construction Import and Export Corporation (Vinaconex) broke ground yesterday on the Cho Mo Trading Centre at the intersection of Bach Mai and Minh Khai streets.

Vinaconex will invest VND1.5 trillion (US$89.3 million) to construct two buildings - one is 15-storey and the other-25-storey-on the site, a total area of more than 11,000sq.m, located in Hai Ba Trung District, Ha Noi.

The project will have one floor for traders of the former Cho Mo location, five levels for trade services and floors for offices, apartments and other services.

Construction of the centre is expected to finish in August 2011. Vinaconex has spent VND21 billion on clearing the site.

Vinaconex and Parkson Viet Nam signed a memorandum of understanding on leasing a site at the Cho Mo Trading Centre yesterday.

In the future, other customers, like Prudential, large banks and financial institutions will work with Vinaconex to lease sites at the new Cho Mo.

According to the latest report of the Ha Noi Industrial and Trade Department, six other trading centres are expected to be built in Ha Noi by 2010 including Cua Nam with a total investment of VND150 billion. Hang Da with a total investment of VND150 billion and Gia Thuy with a total capital of VND230 billion.

Rol.vn - Source: Vietnam News