Lotte invests nearly US$1 billion in Eco Smart City project
VOV.VN - Lotte Holdings Co. Ltd. of the Republic of Korea on September 2 broke ground for Eco Smart City Thu Thiem -a multi-functional complex of commercial services, upmarket hotels and apartments - in Ho Chi Minh City.
The complex will sit on an area of 50,000m2 near the Thu Thiem New Urban Area of Ho Chi Minh City, with a total investment capital of approximately VND20.1 trillion, equivalent to US$860 million).
The project’s design is inspired by natural wonders bestowed on Vietnam, including the beauty of Ha Long Bay and terraced fields in the north-western region to create an ideal and harmonious space between people and nature.
Addressing the groundbreaking ceremony, Shin Dong-bin, chairman of Lotte Holdings Co. Ltd., noted as the RoK and Vietnam are celebrating 30 years of their diplomatic ties this year, the Eco Smart City Thu Thiem project will be the starting point for Lotte’s upcoming investment expansion activities in Vietnam.
According to Ho Chi Minh City, the early implementation of Eco Smart City Thu Thiem will contribute to the formation and development of a financial - banking, commercial and service center in the Thu Thiem New Urban Area.
The project, once completed, is expected to give the Thu Thiem New Urban Area a facelift, Shin said.
Eco Smart City Thu Thiem is expected to take shape in 2028.
