Ho Chi Minh City Securities Corporation (HSC) has announced construction of 02 office building projects as follows:
1. The office building at 189 Nguyen Thi Minh Khai St.:
* The project finished foundation and will be put into service in January 2010.
* Total area of floor space: 5,448m2 including 10 floors, 01 mezzanine and 02 basements. Total area is 660m2, total construction area is 396.3m2 and total investment capital is VND67,267 billion.
* The company signed leasing contracts and received deposits. As the contracts, whole the building (189 Nguyen Thi Minh Khai St.) will be leased in 10 years. Leasing price will increase every 03 years on average increase of 05 the same buildings in the same area. In the first 03 years, revenue from the building is about USD1 million / year. Deployment capacity is 100% and the company will withdraw enough capital in 3.5 years.
2. The office building at 193 Dinh Tien Hoang St.:
* The building is built the last floor (Twelfth floor). The building will be completed and put into service in April 2010.
* The building includes 12 floors, 01 mezzanine and 02 basements with 10,216m2 of total floor space. Total area is 1,201.9m2, total construction area is 629m2 and total investment capital is VND106.8 billion.
* Through the consultancy firm – CB Richard Ellis, HSC is negotiating with some customers to lease the building. In the company’s expectation, revenue from the building in the first 03 years is about USD1.6 – 1.7 million.