The SaiGon Tax Trade Centre, built in 1880, with a total floor area of 15,000 square metres, is history. It has closed. Having survived the French, the Americans and the Reunification Government it is succumbing to the demolition cranes.
Facing the Rex Hotel, across Le Loi Street, it will be replaced with yet another high-rise, this one a 40-storey behemoth that will be totally disproportionate to the surrounding buildings.
500 square metres of the centre's gross floor area will be handed over to the Ho Chi Minh City Urban Railway Management Board for building the ventilation structures of the SaiGon Metro Station, one of 14 stations on the Ben Thanh-Suoi Tien Metro Line. Le Loi has already been dissected by earthworks between Nguyen Hue and Pasteur.
The line run from Quan 1 through Quan Binh Thanh, Quan 2, Quan 9 and Quan Thu Duc terminating in Di An Town in neighbouring Binh Duong Province. It is estimated to cost USD$2.49 billion. The subway line, which will be 19.7km long, is the first-ever in VietNam.
The management board of Saigon Tax Centre offered to store vendors property in their warehouses. The Board told traders that they could consider relocating to the Satra Mart supermarkets in Quan 8 and Quan10. The two markets, along with the Saigon Tax Centre, are all managed by state-run Saigon Trading Group. “We know we could not find any customers at such locations,” Hoang, a former souvenir vendor at Saigon Tax Centre, said.
Vendors said their products, mostly handicrafts and souvenirs, can only find buyers in downtown Ho Chi Minh City, where Foreigners are concentrated.
While there are numerous spaces available at other trade centres in Quan 1, the city's downtown, traders said they are leased at business killing prices.
Some traders said they cannot afford the US$50-70 a square metre rate offered by Vincom, the 'luxury' shopping centre ten minutes' walk from Saigon Tax. Lucky Plaza, another new trade centre nearby on Nguyen Hue, asks for $250 per square metre, according to traders!
You have to wonder if city planners ever consider preservation of historic buildings. Anyone who has been to the Tax Department further along Nguyen Hue will know they can do it, if they want to. Here they preserved the old building and constructed a high-rise in the rear.