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Property

Construction of IMG Airlines Building gets underway

Released at: 16:00, 25/03/2017

Construction of IMG Airlines Building gets underway

Photo: JLL

Ground broken at IMG Corporation project in HCMC's Go Vap district, with completion expected in Q3 2018.

by Lan Ngoc

The IMG Corporation has held a breaking ground ceremony for its IMG Airlines Building project in Ho Chi Minh City, with construction expected to be completed in the third quarter of 2018.

The project is located at 371 Nguyen Kiem Street in Go Vap district, next to Pham Van Dong Boulevard and Tan Son Nhat International Airport and just 20 minutes away from the city center.

The building will have a gross floor area (GFA) of approximately 30,000 sq m, designed with a large open floor plan and centralized air systems and will have international-standard property management.

The IMG Airlines Building will provide the complete package, from office space to complimentary services for logistics and transportation companies. It will dramatically reshape the business landscape in the Tan Son Nhat area.

“The IMG Airlines Building is designed based on our company’s aspirations, applying green technology and using solar energy to supply electricity,” said Ms. Nguyen Thi Thu Hien, Chairwoman of IMG.

The building is a part of IMG Corporation’s sustainable development strategy, establishing a foundation to launch IMG Logistic, which will be a pioneer in providing complete, uniform logistics solutions.

IMG and real estate consultants JLL Vietnam have signed an exclusive agreement, with the latter providing marketing and leasing services for the building to introduce multinational companies to fast-growing Go Vap district.

Mr. Stephen Wyatt, Country Head of JLL Vietnam, said that office vacancy rates in the city have reached an all-time high of 95 per cent. “Occupiers, therefore, are struggling to find good quality office buildings such as the IMG Airlines Building,” he added.

IMG Corporation has a range of subsidiaries, operating mainly in the legal, finance, investment, immigration, communications, airline, and energy sectors.

JLL was previously selected to manage the Vista Verde project in Ho Chi Minh City and Mulberry Lane in Hanoi.

Vista Verde is located on 34,056 sq m in Thanh My Loi ward in District 2 and is expected to be completed in the fourth quarter.

It has 1,152 premium apartments offering state-of-the-art recreational facilities such as a gym and a swimming pool, a clubhouse, lounging islands, a jogging track, and a tennis court. It will also have a retail mall.

Mulberry Lane, meanwhile, sits on 24,466 sq m and is strategically located in the Mo Lao New Urban Area in Ha Dong district, an up-and-coming residential area that is the preferred choice of affluent local people and expatriates.

It has 1,478 premium apartments of various types and entertainment facilities such as a swimming pool.

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