Lotte Group invests in a smart complex of $900 million in Thu Thiem

Chairman of Ho Chi Minh City People's Committee - Phan Van Mai - just had a meeting with Mr. Ha Seok Joo, General Director of LOTTE E&C at the City People's Committee to discuss promoting the implementation of the project "LOTTE Eco Smart City Thu Thiem".

LOTTE Eco Smart City Thu Thiem is a large-scale smart ecological complex including a commercial center, office, hotel, serviced apartment and residential area, total floor area is 680,000 m2 located in Thu Thiem New Urban Area. The project has a total investment of about 900 million USD.


Working session

LOTTE E&C intends to develop a smart eco-complex with advanced technologies and high-class commercial standards, hoping to make LOTTE Eco Smart City Thu Thiem a symbol in the region. The planning project has been submitted and waiting for approval, construction shall be commenced immediately after completing the investment procedures.

During the meeting, Mr. Phan Van Mai, Chairman of Ho Chi Minh City People's Committee said, “We appreciate the investment of LOTTE in Vietnam. Ho Chi Minh City government will actively support the licensing process to ensure the project progress."

The General Director of LOTTE E&C also expressed his appreciation to the City for the interest and support in the development of the project.


Perspective of LOTTE Eco Smart City Thu Thiem project

Not only the project in Thu Thiem, LOTTE E&C also has a lot of construction experience in Vietnam. Since its first presence in Vietnam in 2006, the company has built Lotte Center in Hanoi, Lotte Mall in Hanoi and Lotte Mart along the country, etc.

Besides, in 2019, the company also established its own legal entity to actively invest in real estate development projects . This year alone, LOTTE E&C had received the orders valued total 1 billion 417 million USD in the international market, ranking 2nd among the construction companies in Korea.

In appreciation with Vietnam's development speed, LOTTE E&C decides to choose this as the key country to invest. The company currently focuses on the projects that combine both development and construction in order to become a global company with a wide scope of work, including all phases from business developing, financial planning to constructing and operating, rather than merely a construction company.