Authorities in Ho Chi Minh City have decided to cancel a project building a commercial complex in District 1 after 16 years of delay.

Invested in by the Bitexco Group, the project is located in the Ma Lang area, which is also known as the Nguyen Cu Trinh quadrangle.

The city gave approval to the Bitexco Group in 2007 to clear the site and build a complex of hotels, office buildings, and commercial centers.

The total planned area is 68,500 sq m. More than 1,400 houses needed to be cleared for the project. Site clearance and resettlement was to begin in June 2018 at a total estimated cost of VND5 trillion ($209 million), but has been delayed ever since.