Saigon’s $35 million French-colonial villa sold to foreign corporation
20-10-2015 13:54:34+07:00
Saigon’s $35 million French-colonial villa sold to foreign corporation
Nguoi Lao Dong (Laborer) Newspaper has reported that the French-style villa that is located in a prime space in HCM City has been sold to a foreign corporation for about US$35 million.
The French-style villa was built in the early 1900s, totaling over 2,900sq, fronting the three roads of Vo Van Tan, Ba Huyen Thanh Quan, and Nguyen Thi Dieu in District 3.The villa owners, two women of nearly 80 years old, Mrs. Dang Kim Chi and Mrs. Nguyen Kim Sa Dang, previously asked for $47 million for the 2,900-sqm, three-faceted building.
The villa was built during the French colonial period with construction materials reportedly brought from France and other European countries. It took dozens of highly skilled builders nearly a year to finish the structure. The property is thus called the “French house” by local residents. After more than a hundred years, the house retains its French architecture and is in good condition.
The building is furnished with many antiques, some worth billions of dong (hundreds of thousands of USD). The former owners said they were most concerned that the new owner of the villa would demolish the building to replace it with a modern one. Saigon would thus lose an example of architecture with rich history, they said.
Many real estate professionals in HCM City said that to recover capital, the new owner might build a shopping mall or an office building on this plot of land.
Nguyen Anh Tuan, Deputy Director of the Centre for Architecture Research of the HCM City Department of Planning - Architecture, said that the villa is on the list of old villas for checking by the city. This task will be completed by the year’s end.
Tuan said it was highly possible that this villa would be named among the old villas for conservation.
"During the time of checking, the owner is allowed to transfer the ownership but the change of structure and design must have permission of the authorities," Tuan said.
According to the Center of Planning Information, this villa is located in an area for construction works for commercial and service functions and for low-rise apartments (less than eight floors).
