International Finance Centre One Saigon or International Financial Centre One Saigon, officially abbreviated as IFC One Saigon, formerly Saigon M&C Tower and Saigon One Tower, is a 41-storey high-rise building currently under construction at 34A

Tôn Đức Thắng Boulevard Tôn Đức Thắng Boulevard () is a thoroughfare in District 1, Ho Chi Minh City, District 1, downtown Ho Chi Minh City, Vietnam. The boulevard stretches from Lê Duẩn Boulevard to the north end of the Khánh Hội Bridge, with more than half ...

, Ho Chi Minh City, Vietnam. The project is funded by Saigon M&C and Dong A Bank, with a budget of approximately $228 million

USD The United States dollar (symbol: $; currency code: USD) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it int ...

. The tower covers of land on the bank of the

Saigon River The Saigon River () is a river located in southern Vietnam that rises near Phum Daung in southeastern Cambodia, flows south and southeast for about and empties into the Nhà Bè River, which in its turn empties into the South China Sea some no ...

. The tower's construction started in 2007 and was expected to be completed in 2012. Saigon M&C would have become one of the highest-priced real estate developments in Vietnam and was expected to be the second tallest building in Ho Chi Minh City, after

Bitexco Financial Tower Bitexco Financial Tower () is a skyscraper in Ho Chi Minh City, Vietnam. At its completion in 2010, it became the tallest building in Vietnam and kept this status until January 2011, when it was surpassed by Keangnam Hanoi Landmark Tower. With ...

. However, construction work was halted in 2011, with the building being 80% complete. In 2017, outstanding debts of the developer totaling over VND 7,000 billion were sold to the

Vietnam Asset Management Vietnam Asset Management (VAM) is a fund management company founded in 2006 by John Lyn (executive chairman), Nguyễn Xuân Minh (chief executive officer/ chief investment officer) and Nguyen Hoai Thu (investment director/head of research). The ...

for VND 680 billion (US$29 million). After defaulting on the debts, the building was seized by Vietnam Asset Management and put up for auction. The developers are on trial for falsifying documents that were used to secure the loans from Dong A Bank. According to the city's construction department, Saigon One Tower and other stalled or delayed projects in the city are due to the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

. In 2021, the tower was acquired by Viva Land and renamed IFC One Saigon and is currently under construction as a mixed-used development. The building will contain offices, residential apartments, and retail outlets.

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List of tallest buildings in Vietnam This list of tallest buildings in Vietnam ranks skyscrapers in Vietnam by height. The tallest building in Vietnam is the 81-storey Vincom Landmark 81, Landmark 81 in Ho Chi Minh City, which was completed in 2018 at the height of . It is the sevent ...

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Unfinished buildings and structures Skyscrapers in Ho Chi Minh City Skyscraper office buildings in Vietnam Residential skyscrapers {{Vietnam-struct-stub