Sabeco, the Vietnamese beverage company that has a commanding 40% market share of the domestic market, is in the process of trading in its massive warehouse at Me Linh Square for a shiny new skyscraper to boost its image.
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The low-flung Sabeco building has been an unassuming fixture of the square for decades and has stood its ground as other nearby plots of land have been redeveloped into skyscrapers and large hotels.
According to REIC, Sabeco and a group of investors seem poised to start work on a mixed use, 39-story tower designed by DP architects in 2008. Work has yet to move forward due to government regulations barring the beverage maker from doing business outside its field. Sabeco is currently working with the Ministry of Industry and Trade to address this shortcoming to push the project forward.
The building will sit on a prime slice of real estate between Thi Sac and Hai Ba Trung Streets. It will include a total floor area of 90,000m2 and house a shopping center, offices, apartments, a hotel and restaurants.
When built, it will leave the Former Chambre de Commerce as the last remaining pre-1975 structure on the historic square.
Here are some renderings of the design:
