Ho Chi Minh City is set to resolve issues hindering five major developments, among which is the 88-story Observation Tower Complex in Thu Thiem. This ambitious project, slated to surpass Landmark 81 as the tallest building in the city, is positioned as a symbol of the Thu Thiem New Urban Area.
The Thu Thiem Observation Tower Complex is being developed by Empire City LLC, led by General Director Võ Sỹ Nhân. According to a statement submitted to the Ho Chi Minh City People's Committee in early 2022, the company has already made significant progress. Since 2017, it has fully paid land-use fees for Zone 2B, constructed infrastructure on the allocated land, and completed three mixed-use residential complexes. To date, the company has invested approximately VND 13 trillion (around USD 540 million) into the project.
Despite these advancements, the project’s second phase has been stalled due to pending legal procedures related to conclusions drawn by the Government Inspectorate on the Thu Thiem New Urban Area. These delays have prevented the company from completing the necessary legal and land-use approvals to proceed further.
Empire City LLC remains committed to advancing the project as soon as the challenges are resolved. The next steps include constructing a financial center office tower and launching the iconic Empire 88 Tower. Once completed, the skyscraper will redefine Ho Chi Minh City's skyline, solidifying its place as a financial and cultural hub in the region.
This development highlights Ho Chi Minh City’s determination to foster growth and overcome bureaucratic hurdles to realize its vision for Thu Thiem as a modern urban center.
