The event marks an important step forward in the implementation of one of the most strategic urban projects in Thu Thiem New Urban Area, Ho Chi Minh City.
Lotte Eco Smart City Thu Thiem is located in functional sub-area 2A - the core of Thu Thiem New Urban Area, which is planned to become the new international administrative, financial, commercial and service center of the City. The project spans 6 adjacent land plots (2-1 to 2-6) with a total area of about 7.54 ha, belonging to the rare large-scale land fund remaining in the central area.
Lotte Eco Smart City Thu Thiem is a large-scale multi-functional urban complex, integrating Grade A office towers, commercial - retail podiums, services, accommodation and public spaces in a synchronous ecosystem, according to international standards for urban planning, development and operation. The total estimated investment of the project is about 60,000 billion VND.
According to the transaction structure, Phat Dat participates in joint development for the housing component in blocks 2-2, 2-4 and 2-6. At the same time, Phat Dat will play the role of developing two commercial high-rise buildings 2-1 and 2-3, along with the base block including 4 commercial - service floors and basements.
The above structure helps Phat Dat both accompany Lotte in the housing component and proactively develop key commercial assets, thereby expanding its presence in the new core center of Ho Chi Minh City.
This participation makes Phat Dat a direct co-development partner in one of the largest urban projects in the core area of Thu Thiem, and also demonstrates a strategy of focusing resources on high-value assets in the center of Ho Chi Minh City.
Speaking at the ceremony, Mr. Shin Man Soo, Vice President of Lotte E&C, said:
Lotte Eco Smart City Thu Thiem is one of Lotte's key projects in Vietnam. We believe that the combination of Lotte's international development experience and Phat Dat's deep understanding of the Vietnamese market will create a solid foundation to implement a project that meets the highest standards and brings sustainable value to all stakeholders.
On Phat Dat's side, Mr. Nguyen Van Dat, Chairman of the Board of Directors, shared:
Lotte Eco Smart City Thu Thiem is not only a large-scale investment project but also has special significance in promoting the formation of Thu Thiem's new urban center. With the companionship of Lotte and Phat Dat, we believe the project fully meets the conditions to become a new symbol of modern Vietnamese cities, and at the same time contribute positively to the strong development of Ho Chi Minh City.
