Ground broken for huge shopping mall

The Phu My Hung (PMH) joint venture company Wednesday broke ground for the US$200 million Crescent Mall in the South Saigon region in Ho Chi Minh City’s District 7.

With a floor area of 44,000- square meters for rent, the mall can accommodate more than 210 shops, restaurants and outdoor cafes, according to the developer.

The mall, which also includes a cinema complex and a supermarket, is set for completion by 2011.

PMH said five local banks, including Vietcombank, Viettinbank and Asia Commercial Bank will finance the project under a VND1,200 billion ($67.4 million) syndicated loan.

Truong Son

thanhnien

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