IPC opens its doors

Located at District 7’s Nguyen Van Linh Boulevard, the tower comprises 21 storeys with 14,200 square metres of net let table area and 3,000sqm basement and outdoor parking. The 21^st floor will be devoted for an international standard restaurant to serve tenants and visitors to the building.

Phan Hong Quan, general director of  the firm (IPC), said: “We has managed to have our own home in the heart of Phu My Hung to better operate the company’s increasing businesses and help accommodate new comers moving to new headquarters or secondary offices.”

IPC is now also the associated developer of Tan Thuan Export Processing Zone and Nguyen Van Linh Parkway in the city’s southern area.

With unique octagon shaped floors to maximise spectacular views of Phu My Hung area, the project cost VND220 billion ($11 million), excluding the land’s value owned by the IPC, said Quan.

According to the tower’s marketing and management agency Colliers International, rents at the project will fluctuate between $18-$20 per square metre per month with $5 per square metre each for service charge.

Established in 1989 to attract resources and especially foreign investment in the city’s southern area, IPC has also worked on many other major projects in the Saigon South area, such as the north-south avenue with up to 10 transportation lines, dredging the Soai Rap River to the depth of 12 metres to accommodate ship traffic in excess of 50,000 tonnes to Hiep Phuoc Industrial Zone port and Hiep Phuoc new urban area.

IPC was in cooperation with Taiwanese Central Trading & Development Group and developed 70 per cent of the 300 hectares of Phu My Hung new urban area’s A area, according to Quan. The developers are still working on the 1/500 master plan for the rest Phu My Hung area’s 300ha at B area.