Sitting abandoned on Ton Duc Thang Street in Vietnam, the Saigon One Tower is considered a 42-floor ghost within Ho Chi Minh City. Never completed, though to a passerby it still seems under construction, this structure would have been the country’s 9th tallest high rise. Carrying a grim tale, the Saigon One Tower now haunts the city and its residents.

Skyscraper in District 1

Standing on the riverfront, just behind the Bitexco Financial Tower, the Saigon One Tower takes up some of Ho Chi Minh City’s prime real estate. Located in the downtown area, the tower is steps away from the district’s best shops, restaurants, hotels, and attractions.

Quick stats:

Developer: Saigon M&C, Dong A Bank, Vietnam Asset Management Company
Construction: 2007-2011 (stopped)
Opening: N/A | Construction was stopped and the building is incomplete
Height: 195 meters/641 feet
Observatory: None
Floors: 42
Floor Area: N/A
Features: Residential | Office | Retail (never completed)

Design

Similar to many of Vietnam’s skyscrapers, the Saigon One Tower has a modern appearance and was constructed with glass to ensure that anyone inside its 42 floors could enjoy a bird’s-eye view of the city. The blocky backside was balanced with a softly curved front, providing panoramic views of Saigon.

Saigon One Tower. Photo: Ngô Trung

The design was up to international standards and most likely would have been managed by the latest technology. Floor plans reveal that the Saigon One Tower was meant to be a multi-use space with private residences, shops, restaurants, and offices.

The Downfall

In 2011, Vietnam’s once-prosperous real estate market collapsed, making funding large projects more difficult, if not all impossible altogether. While many projects never came to fruition, the Saigon One Tower is the city’s most famous ghost.

Originally, Saigon M&C was the tower’s main investor, having borrowed almost $2.5 million to construct the tower. Deep in debt and unable to pay their loan, construction was put on hold in 2011, with the building almost 80% complete at the time.

The abandoned Saigon One Tower. Photo: Gyver Chang

Afterward, the Vietnam Asset Management Company acquired the debts, $29 million worth, from Alpha King Real Estate Development and placed the building up for auction. Since then, the building has struggled to keep a developer and resume construction.

The latest asking price for the uninhabited building is $268 million dollars, though, there are no current offers or interested buyers.

An Ideal World

Residents have mixed feelings about the tower and its status. Some see Saigon One Tower as an eyesore within Ho Chi Minh City, wishing for the structure to be torn down, while other residents are holding out, hoping that the building could become valuable if completed.

Tourists have a completely different take on Saigon One Tower as they aren’t often in Ho Chi Minh City long enough to realize that the building remains unchanged. Nevertheless, the structure makes for an interesting conversation.

Covering 1.7 acres of the city’s prime real estate, this modern ghost is within an area teeming with life.

What to Do

There’s nothing to do at this skyscraper except to observe a bad investment. While most won’t stop by the tower, if you happen to pass by, the Saigon One Tower is worthy of a gaze.

The Saigon One Tower visible on the HCMC skyline. Photo: Garrett Ziegler

Instead, visitors looking for fun activities and places to stay will have to seek other establishments in the streets. On the riverfront and steps away from the Bitexco Financial Tower, there is plenty to keep guests entertained.

Shops, Restaurants, and Hotels — Oh My

With the building incomplete, there are no shops, restaurants, or hotels at the Saigon One Tower. Just across the street, visitors will be able to find everything that they need, from local shops to fine dining and luxury stays, downtown Vietnam takes great care of its guests.

The sun rising behind the Bitexco Financial Tower, Saigon. Photo: Malcolm Surgenor

The most popular attraction near the Saigon One Tower is the Bitexco Financial Tower. As a mega skyscraper in Vietnam and Ho Chi Minh City, the Bitexco Financial Tower is a multi-use structure, although, it lacks private residences and a hotel.

Instead, the Bitexco Financial Tower is famous for its helicopter pad, lotus-like appearance, and observation deck. Visitors to the tower’s observation deck can even gaze upon the Saigon One Tower for an elevated view of the building’s ghostly frame.

Bitexco Financial Tower helicopter pad. Photo: Gyver Chang

The Bitexco Financial Tower has everything guests need for a day of shopping and dining. An indoor shopping mall, Icon68, provides guests with entertainment. For a meal high in the sky, guests can take an elevator up to the towers 50th and 51st floors to dine at Eon51 or the Strata Restaurant.

Eon51 Restaurant & Lounge. Photo: EON51 Restaurant & Lounge – Level 51 Bitexco Financial Tower

Surrounding both the Bitexco Financial Tower and Saigon One Tower are dozens of shops and restaurants. To get to know Ho Chi Minh City better, guests can stroll the sidewalks and explore the area’s highlights.

Lively Accommodation

In direct contrast to Saigon One Tower’s dead atmosphere, there are quite a few lively accommodation options close to the building. The establishments with the highest ratings and best reviews include the chúng mìnhie Saigon, Renaissance Riverside Hotel, and the Sheraton Saigon Hotel.

Other quality accommodations include seeking a private resident to rent on a nightly basis. There are many apartment buildings in the downtown area and some are available for short-term stays.

Waterfront view of the Saigon One Tower. Photo: Aleksandr Zykov

While there aren’t reports of phantoms in Saigon One Tower, the structure’s abandonment is all that is needed to fuel a ghostly tale. Regardless of nothing being open within the structure, it is likely that in your adventures in Ho Chi Minh City, you’ll catch a glimpse of this haunting tower.