Saturday, January 24, 2009

What happend to Saigon Paragon? A victim of the economic crisis?

It was scheduled to open in Summer 2007, then in December, then January, now they removed the banner for the opening and put another banner on the building, saying office space is now available.

The project was supposed to be a mix of shopping and office space. The Paragon Saigon building, located on an area of 37,162 square metres, will comprise 10 upper storeys for offices, trade centres, a cinema and restaurant, and two underground floors for parking.

When I passed by today, it seems that nothing is going on inside. The building is finished, but since weeks there is no activity inside. No signs of shops moving in, no banner about what is planned to be inside.

Weeks before Lotte mart opened they announced what's going on in Ads and banners.

One of the investors is the Khaisilk Cooperation, well known for a lot of restaurants with nice design and - hmm, lets say very average food and service. The Thuy Luc Cooperation brought in the experience if building. May Saigon Paragon now face the economic crisis and the reality of retail: If you do the same as Parksons, there is no reason for customers to go - and no reason for shops to open.

Maybe they have the usual Tet delay, we will see what happens in the next weeks. The website ist totally outdated and gives informaton from 2005.

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