Ho Chi Minh City is considering adjusting the planning to establish an International Financial Center core area in the Thu Thiem New Urban Area (Thu Duc City), notably featuring a proposed 99-storey financial tower – expected to reach approximately 500 meters in height if the planning is approved.

99-storey tower in Thu Thiem: Where is the proposed location?

According to available information, the planning adjustment focuses on land plot 1.K1.8.HH (approximately 1.26 hectares) within the Thu Thiem core subdivision. This parcel is proposed to increase the height limit from a maximum of 30 storeys to 99 storeys, corresponding to a height increase from approximately 120 meters to 500 meters, with mixed-use functions aligned with the International Financial Center development.

If approved, this will become one of the most iconic landmarks of Thu Thiem and is poised to become a defining feature of Ho Chi Minh City’s skyline.

Why does Ho Chi Minh City want a 99-storey icon?

Analysis indicates that the proposal to increase building heights in the Thu Thiem core area stems from the need to reorganize the central urban space—encompassing administrative, political, financial, and public functions—in a new direction, while establishing landmark structures to enhance the image and competitiveness of the financial center.

Additionally, the planning aims to optimize land use efficiency while enhancing the quality of urban space through improved public squares, open areas, and green spaces, creating harmonious connections with neighboring public facilities.

The bigger picture: What is the scale of the Ho Chi Minh City International Financial Center?

According to available information, the Ho Chi Minh City International Financial Center is planned across approximately 899 hectares (extending from the existing central area through Thu Thiem and portions of the Saigon River), with a total preliminary investment of approximately 172 trillion VND. The first phase will prioritize infrastructure development in the core area (over 9 hectares), with operations expected to commence in 2027.

Notably, Ho Chi Minh City has taken a “preliminary” step for the first phase by announcing an initial operating location for the center before construction in Thu Thiem is completed.

How will Thu Thiem transform with the 99-storey tower?

If approved and implemented as planned, the 99-storey tower will be far more than a high-rise building. It has the potential to create three major impacts:

1. Establishing a true “financial district”: Attracting premium Class A offices, financial services, legal firms, auditing firms, and fintech companies into a unified business hub.
2. Elevating Ho Chi Minh City’s urban presence: Creating a new iconic landmark on the East bank of the Saigon River, complementing the existing downtown skyline.
3. Strengthening connectivity between Thu Thiem and the city center: Key corridors such as arc boulevards, riverside axes, and connecting bridges will increasingly serve as vital arteries for people and capital movement.

Note: This remains a planning proposal and orientation. Final height, functionality, design, and timeline are subject to approval and subsequent implementation phases.