Richest Man Proposes 4-Level Mall Beneath HCMC Central Park

A proposal to build a four-level underground complex beneath a central Ho Chi Minh City park and metro station has been put forth by VinSpeed, the rail arm of Vingroup, the conglomerate led by Vietnam's richest man, Pham Nhat Vuong. The project, covering over 9.3 hectares, aims to integrate retail, services, parking, and public amenities with the existing urban infrastructure. The proposed underground facility would span up to four levels, offering nearly 318,000 square meters of floor space. Of this, approximately 145,000 square meters would be dedicated to retail, services, and amenities, while around 147,000 square meters would be allocated for parking. The remaining space is designated for the metro station, offices, an operations center, and technical rooms. The mall would be situated directly below September 23 Park, with access points connecting to the underground station, parking levels, and a network of entrances. Plans include shops, restaurants, entertainment venues, and public amenities, with features like skylights and planting designed to bring natural light and air underground. Parking levels beneath the retail floors would incorporate smart management systems, charging stations, and related facilities to alleviate downtown congestion. Emergency exits and fire suppression systems would be integrated throughout the complex as a single unit. The second subzone, the existing Ben Thanh underground station, will proceed as a separate project. Above ground, September 23 Park will remain a public space, with any structures limited to a single story. Green space will account for over 87,400 square meters of the site, complemented by roads and walkways covering more than 5,600 square meters. The park is strategically located in the heart of downtown Ho Chi Minh City, adjacent to Ben Thanh Market, Quach Thi Trang Square, and the major thoroughfares of Le Loi and Le Lai. It also serves as the terminus for Metro Line No. 1's Ben Thanh station, which opened in December 2024 and is envisioned as a key interchange for future urban rail lines. Previously, the city had planned a roughly 45,000 square meter underground shopping center on an adjacent site beneath Quach Thi Trang Square and a section of Le Loi street. However, this project, with a budget of nearly VND8.4 trillion ($320 million), largely funded by official development assistance loans, has faced years of delays. The revised Ho Chi Minh City master plan through 2040, with a vision to 2060, designates September 23 Park for commercial development linked to downtown parking and urban rail connectivity. The area's 1:2,000 zoning plan also permits underground walkways, parking, and a shopping center below the park. The city has granted VinSpeed approval to develop a detailed 1:500 plan for the park site, focusing on underground development. VinSpeed, established in May 2025, is also constructing the Ben Thanh-Can Gio metro line, which commenced construction on December 19. Source: VnExpress International