At noon on October 9th, we arrived at the old Iron Market area in Phan Boi Chau ward, Hong Bang district, Hai Phong city. The famous market, built in the 19th century during the French colonial period and once a symbol of Hai Phong city and a bustling commercial center of the region, is no more. It has been replaced by a 1.5-hectare enclosed vacant lot.
The Iron Market Commercial Complex project replaces the once-famous old Iron Market in Hai Phong City.
According to information from the Hai Phong City People's Committee, over time, the old Iron Market has failed to keep pace with local development and no longer ensures the safety of its vendors. Therefore, Hai Phong City is planning a grand, modern commercial center to replace it. To continue the tradition, the Hai Phong City government requires the investor to retain the name "Iron Market" in the project's commercial name.
By July 2021, the People's Committee of Hai Phong City had completed the project planning for the Cho Sat Commercial Complex, including a shopping mall, entertainment center, 5-star hotel, and office space for rent (Cho Sat Commercial Complex Project) and organized a public tender in accordance with regulations.
According to Decision No. 3232/QD-UBND of the People's Committee of Hai Phong City, Saigon Garment and Match Joint Stock Company has become the investor of the Iron Market Commercial Complex Project.
The project has a total investment of over 6,000 billion VND, comprising two 40-story towers and two basement levels, built on an area of 1.5 hectares. The building density for the podium is over 46%, the building density for the towers is 40%, and the building height is nearly 150 meters.
Seventeen months after its groundbreaking, the Iron Market Commercial Complex Project in Hai Phong City remains "dormant," surrounded by a fence.
To expedite the project's implementation, Saigon Garment and Match Joint Stock Company proactively proposed to the Hai Phong City People's Committee to allow the construction of a temporary market in Kien An District, Hai Phong City, to ensure the business operations of traders at the old Iron Market. During the project's implementation period, traders relocating to the temporary market will be exempt from rent.
After the proposal was approved, Saigon Garment and Match Joint Stock Company invested over 30 billion VND to build a temporary market to serve the business needs of more than 400 small traders. By mid-March 2022, the last remaining traders from the Iron Market had moved to the new location.
In addition, to ensure urban aesthetics, Saigon Garment and Match Joint Stock Company collaborated with the People's Committee of Hai Phong City to organize a design competition for the project. The architectural design by Hirsch Bedner Associates PTE LTD - HBA (Singapore) with the theme "Meeting Place of Rivers" was selected.
On May 14, 2022, Saigon Garment and Match Joint Stock Company held a groundbreaking ceremony for the Iron Market Commercial Complex Project to celebrate the 67th anniversary of the liberation of Hai Phong (May 13, 1955 - May 13, 2022) and the 2022 Red Phoenix Flower Festival.
Expected to be completed and operational in 2024, the Iron Market Commercial Complex Project will have multiple functions: a shopping mall, entertainment area, 5-star hotel, and office space for rent.
In addition, the project will address the shortcomings in food services, tourism, parking, and many other services for local residents and tourists.
A completely empty plot of land lies within the enclosed fence of the Iron Market Commercial Complex Project in Phan Boi Chau ward, Hong Bang district, Hai Phong city.
The fact that the investor of the Iron Market Commercial Complex Project "swiftly" completed the demolition of the old Iron Market in less than a month and fulfilled its financial obligations by paying the land lease fee of nearly 1.1 trillion VND in a single payment at the end of 2022 further strengthens the belief of the people of Hai Phong City that, before long, the port city will have a magnificent commercial center befitting its development.
However, since the demolition was completed in June 2022, apart from erecting a fence to enclose the project, Saigon Garment and Match Joint Stock Company has remained completely inactive. The 1.5-hectare plot of land, located in a prime location in the heart of Hai Phong City, remains completely empty.
With the developer running out of time to complete the Iron Market Commercial Complex Project, residents of Hai Phong City are concerned and worried that this "prime land" area will be left vacant and wasted for a long time.
They expressed their desire for the Hai Phong City authorities to urge and remind the investor to promptly implement the project according to plan, as well as to provide timely support and assistance in resolving any difficulties or obstacles (if any). They also requested that the reasons for the investor's delay in project implementation be publicly disclosed .
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