One Central HCM (formerly known as Spirit of Saigon) is a double-tower development in Ho Chi Minh City. The two towers of 48 and 55 floors are connected by a podium facing the future pedestrian area of the Ben Thanh Central metro station. Its central location opposite the Ben Thanh Market is set to make this development a defining landmark of the city.
The two towers feature a distinctive design of a cantilevered overhang at the top of each building representing dragon heads. Below each “head” is a cantilevered glass cube representing pearls in the mouth of the dragons.
The height of the two towers is 240 metres and 218 metres. By comparison, the nearby Bitexco Financial Tower is 264 metres, and Saigon Centre is 193 metres.
The project will host office space, a hotel, luxury apartments, and retail in the podium. The basement will be connected to the underground mall and walkway of the metro system. Ben Thanh station will eventually be a junction for three metro lines, making it one of the prime locations of the city.
One Central HCM has been through years of delays since it was first proposed in 2010. Originally the project was called “The One Ho Chi Minh City” before it changed was renamed Spirit of Saigon. It was renamed One Central HCM in 2021. The Ritz Carlton had originally signed on to be the signature hotel of the project. They had dropped out of the project, but now they are back as the hotel. The apartments will be branded under Masterise Homes.
Work was underway on the site in 2014 and the 6-level basement was completed in 2017. After that the project stalled. In 2018 the investor Bitexco transferred it to a subsidiary, Saigon Glory. Work on the site resumed at the end of 2019.
Location
Address: Block bounded by Tran Hung Dao, Pho Duc Chinh, Le Thi Hong Gam, and Calmette, District 1, Ho Chi Minh City, Vietnam.
Links and Resources
Client: Saigon Glory, a subsidiary of Bitexco Group.
Architect: Arquitectonica
Structural engineer: LERA
Engineering: DSA Engineers
News: skyscrapercity.com
News Archive
2024
Mammoth project in Ho Chi Minh City’s Ben Thanh quadrangle transferred to Hanoi-based property firm – [21/10/24]
“Bitexco Group officially transferred all of its stakes in Saigon Glory, the developer of the big-ticket One Central HCM project situated in the Ben Thanh quadrangle, to a real estate company in Hanoi at the beginning of October.”
Truong My Lan’s $632M payment ‘legitimate’, Bitexco Group tells court – [10/10/24]
“Investigators found that in 2018 Bitexco agreed to sell a property project called The Spirit of Saigon in Ho Chi Minh City’s District 1 to Truong My Lan’s company Van Thinh Phat Group at the price tag of VND22 trillion.”
Hanoi developer takes over delayed mega project in downtown HCMC – [28/09/24]
“Eastern Hanoi Real Estate Co., Ltd, the new owner of the project, was established on May 23, 2019, with a charter capital of VND517 billion ($21 million). Its initial shareholders were Eastern Real Estate Investment and Trading LLC (50%) and Pham Quoc Nhat (50%). Nhat, 58, also served as its legal representative and CEO.”
Bitexco Group to transfer stake at Saigon Glory for bond repayment – [27/09/24]
“Bitexco Group has reached an agreement to transfer its 100 per cent stake in Saigon Glory, the developer of the luxury One Central HCM twin towers in central HCM City, to Eastern Hanoi Real Estate Company Limited.”
The Spirit of Saigon 500 million USD changes hands: Who is the Hanoi tycoon who took over the super project? – [26/09/24]
2023
Bitexco subsidiary reports $6M loss for 2022 – [04/06/23]
“Property developer Saigon Glory, a subsidiary of Bitexco Group, reported a loss of VND152 billion (US$6.47 million) for last year.
The company, which is building the 8,600-square-meter One Central HCM twin towers in Ho Chi Minh City’s District 1, has a debt obligation of over VND27.3 trillion, 36% of them being bonds.”
2021
[Construction view from Ben Thanh Market – 18/06/2021.]
[Construction view from Tran Hung Dao – 18/06/2021.]
[Construction view from Ben Thanh Market – 31/05/2021.]
[Construction view from Tran Hung Dao – 26/05/2021.]
[Construction – 22/04/2021.]
Renovation plan proposed for HCMC museum – [22/03/21]
“According to the museum, after construction of a commercial skyscraper began next door in 2012, three of its buildings have subsided and suffered cracks to their walls and floors.”
[Name change to One Central HCM – 19/03/2021.]
[Ritz-Carlton – 11/03/2021.]
[Ritz-Carlton and Masterise Homes sign – 11/03/2021.]
[Removing podium scaffolding – 30/01/2021.]
[Podium side view – 30/01/2021.]
[Concreting – 29/01/2021.]
[Construction – 28/01/2021.]
[Construction – 12/01/2021.]
2020
[Concreting night – 04/12/20.]
[Museum and Spirit of Saigon – 29/09/2020.]
Saigon skyscraper investor submits museum repair plan – [26/09/20]
HCMC museum’s century-old buildings face threat from skyscraper construction – [22/09/20]
[Construction – 06/08/2020.]
[Construction – 07/06/2020.]
[Construction – 23/04/2020.]
[Construction – 23/04/2020.]
The Spirit of Saigon sees signs of progress after long delay – [18/03/20]
[Construction – 15/03/2020.]
[Construction – 15/03/2020.]
2019
Coteccons starts construction the superstructure of Spirit of Saigon project – [14/10/19]
Coteccons are building the 10 podium floors of the project.
2017
[Abandoned Spirit Of Saigon site.]
2016
[Basement construction – 13/11/2016.]
2012
The Ritz-Carlton Hotel Company, L.L.C. announces first hotel in Vietnam, with development of The Ritz-Carlton, Saigon – [July, 2012]
Thanks for these updates. Why does it seem like this project is delayed again?
Yes delayed again as no work has happened for the last month. It could be to do with the damage from the museum next door.
I’m across the the street from this uncompleted structure in a hotel looking at it right now. It’s an eyesore to the Ben Thanh Market area. There is another high rise near here thats also a concrete skeleton and there are many all over Vietnam just like this.