In 2008, when reporting about the Vietnam Financial Center (VFC) project licensed by HCMC authorities, local newspapers called it a ‘super project’. It was expected to include three high-rise 48-storey buildings for offices, shopping malls and 5-star international hotels.
However, the project remains on paper. In 2014, Berjaya, the investor, asked for the municipal authorities’ permission to scale down the project by half. Continue reading “Huge foreign-invested real estate projects remain on paper”