A 45 million dollar, seven level car parking facility is to be constructed in the heart of Vientiane Capital in an effort to solve the parking crisis of downtown, which continues to worsen.The building is planned to be constructed in Hongthong area, occupying a total of 2,546 square metres in Hudsady village of Chanthabouly district, an area densely populated by offices and not far from the Ta Lat Sao Shopping Mall.
A young businessperson, Mrs Thipphaphone Dithyavong, told the press yesterday that she will invest US$4.5 million in the construction of the seven-storey car park building, which she expects to complete next five years. The signing ceremony of a 35-year land lease to host the building was held at Rasmy Plaza hotel in Vientiane Capital last Friday between the Vientiane Department of Planning and Investment and Mrs Thipphaphone. The function was witnessed by Vientiane vice Mayor Keophilavanh Aphaylath and other high-ranking officials. Presently, there are more than 500,000 vehicles in Vientiane Capital alone, almost half the total nationwide, with an average annual growth rate of 15-20%.
The monthly rent for private companies operating parking services in the parking area of Ta Lat Sao Morning Market Shopping Mall is around US$3,000, an employee of the parking section, Ms Phouy said yesterday. The first two hours for a car parked there costs 5,000 kip and then following hours are charged at 3,000 kip, she said.
Mrs. Thippaphone shows remarkable foresight in constructing this parking facility, which is sure to be a successful business venture and will help to alleviate traffic congestion in Vientiane.
