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Thu Thiem New Urban Area is planned to be a new modern world-class city center within Ho Chi Minh City. This will be a sustainable urban area with strong integrations between modern facilities/structures and natural sceneries to enhance working and living quality standards. This area will include financial center, commercial component, services, mixed-use residential as well as other cultural, pleasure and entertainment related projects accommodating the requirements of Ho Chi Minh City for its long-term development.

On June 30th, 2015, the People Committee of Ho Chi Minh City hosted the Investment Certificate Presentation Ceremony for Empire City Limited Liability Company for the development of the Thu Thiem Observation Tower Complex Project (as also known as the Empire City Project) in the core of Thu Thiem New Urban Area.

The Empire City Limited Liability Company is the Joint Venture Company at the ratio of 50%-50% between two local parties, which are Tien Phuoc Real Estate Joint Stock Company and Tran Thai Lands Company Limited, and Denver Power Limited (United Kingdom), which is managed and controlled by Gaw Capital Partners Group – a multinational fund management corporation.

According to the approved planning task, the purpose of the project is to accomplish the whole technical infrastructure on a land area of 14.56 ha, along the Mai Chi Tho Boulevard and alongside the Saigon River, and also develop and operate a complex of hi-end commercial center, 5-stars hotel, international standards residential and serviced apartments, offices, underground parking… with a total gross floor area of 730,000 sqm, in which, there is an 86-storeys building – a focal landmark of Thu Thiem New Urban Area. The registered capital of the project is around VND26,000 billion which is equivalent to USD1.2 billion. The project will be developed from the fourth quarter of 2015 and expect to be completed in 2022 through 4 phases.

According to Mr. Vo Sy Nhan – General Director of the Project Company: “The Empire City LLC is trying the best effort to complete all the necessary investment procedures to promptly commence the groundbreaking in the fourth quarter of 2015. Concurrently, the Project Company will arrange capital resources from foreign financial institutions with the best interest rates and will utilize mostly Vietnamese workforce and also the experience from foreign partners to develop and operate this grand project. The Empire City project will definitely create a fantastic living – working – entertainment environment in Thu Thiem New Urban Area as well as in Ho Chi Minh City.”