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Old Saigon building fetches $35 million
By Phan Giang - Bui Thu - Thanh Nien News -
A French colonial villa located in a prime area in downtown Ho Chi Minh City has been sold for US$35 million (around VND753 billion). Photos: Doc Lap - Bui Thu.
The old villa is situated on an area of more than 2,900 square meters (44x66m) at 110-112 Vo Van Tan Street in District 3 in the block between Ba Huyen Thanh Quan and Nguyen Thi Dieu.
The buyer was Ho Chi Minh City-based Minerva Joint Stock Company, which has interests in conservation and tourism. Thanh Nien News and many other media outlets had mistakenly reported the buyer was a foreign company.
The property used to belong to seven people, including two women who held the title to it, Dang Kim Chi, 80, and Nguyen Kim Sa Dang, an overseas Vietnamese from the US who has died.
Many materials for building the house were brought from France. The balconies are built in French style.
But the roof is eastern.
Lotus-shaped sculptures on the roof.
Western construction features on a balcony.
The old building remains in good condition.
The building is under strict protection. There is no plan from Minerva to open it for tourism. The villa is among old building being conserved by the city.