Infrastructure New investment methods needed for HCMC’s delayed underground parking projects By Le Anh Tuesday, Sep 8, 2020,16:06 (GMT+7) New investment methods needed for HCMC’s delayed underground parking projectsBy Le Anh A view of the Trong Dong Music Stage Theater where an underground carpark is expected to develop – PHOTO: NGUYEN ANH HCMC – The HCMC authorities should determine the fate of the various underground parking projects within the city center and seek new investment methods to spur their development, instead of sticking to the old foot-dragging methods that have delayed the projects for a decade. The city had planned to construct four underground parking lots at Le Van Tam Park, Trong Dong Music Stage Theater, Hoa Lu Stadium and Tao Dan Cultural Park; however, the most anticipated parking lot at the Le Van Tam Park is yet to be executed to date despite getting off the ground in 2010. Project already used as collateral before construction One year ago, the HCMC Transport Department sent a notice to the Investment and Development for Underground Space Corporation (IUS), the project’s investor, to terminate the contract of the Le Van Tam underground carpark but IUS did not carry out the contract termination procedures as requested. On… Read full this story
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