Saigon M&C Tower, is a high-rise building under construction District 1, Ho Chi Minh City

District 1, Ho Chi Minh City

District 1 is the central urban district of Ho Chi Minh City, the largest city in Vietnam. With a total area of the District has a population of 204,899 people . The district is divided into 10 small subsets which are called wards. District 1 is where most of the city's administrative offices,...

, Vietnam

Vietnam

Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...

. This tower is invested by Bouygues Batiment International, totals approximately $228 million USD. The building has 42 floors and 195 meters tall.

The tower covers 6800 square meters of land, right on the bank of Saigon River

Saigon River

The Saigon River is a river located in southern Vietnam that rises near Phum Daung in southeastern Cambodia, flows south and south-southeast for about 140 miles and empties into the Nha Be River, which in its turn empties into the South China Sea some 20 km north-east of the Mekong Delta.The...

. The tower's construction started in 2007 and is scheduled to be completed in 2011. When completed, Saigon M&C will become the second tallest building in Ho Chi Minh city after Bitexco Financial Tower.

Office and retail supermarket in Vietnam

During 2000-2007, Vietnam achieved an economic growth of 8-8.5%, leading to the increasing demand of office and shopping spaces in big cities like Ho Chi Minh City

Ho Chi Minh City

Ho Chi Minh City , formerly named Saigon is the largest city in Vietnam...

, Hanoi

Hanoi

Hanoi , is the capital of Vietnam and the country's second largest city. Its population in 2009 was estimated at 2.6 million for urban districts, 6.5 million for the metropolitan jurisdiction. From 1010 until 1802, it was the most important political centre of Vietnam...

, Danang, Haiphong

Haiphong

, also Haiphong, is the third most populous city in Vietnam. The name means, "coastal defence".-History:Hai Phong was originally founded by Lê Chân, the female general of a Vietnamese revolution against the Chinese led by the Trưng Sisters in the year 43 C.E.The area which is now known as Duong...

. Land and housing prices in these cities are disproportionate to the GDP per capita in the country.