Lotte gets approval for $884m Vietnam's Eco Smart City

Lotte gets approval for $884m Vietnam's Eco Smart City

source saigoneer.

edited by kcontents

by News Desk

HO CHI MINH CITY, Vietnam (Viet Nam News/ANN) - The South Korean conglomerate has received the green light to build a multifunctional finance-trade-service centre in HCM City.

Ho Chi Minh City People’s Committee has selected Lotte group as the investor of a smart complex project in the city’s Thu Thiem New Urban Area. 

The project is set to cost the investor 20.1 trillion dong (US$884 million), excluding site clearance expenses. 

It aims to develop a multifunctional finance-trade-service and residential centre, in which finance, trade and service functions play a crucial role in the core area of Thu Thiem. 

Roads and technical infrastructure inside the complex and connecting with other areas in Thu Thiem will also be constructed under the project. 

The project is scheduled to be carried out in 72 months following approval of the investor and will be operated for 50 years by Lotte. 

Thu Thiem New Urban Area is located on the east of the Sai Gon River, facing District 1, with total area of 657ha. It is expected to be a new centre of finance, commerce and services, along with culture and entertainment in HCM City.

http://annx.asianews.network/content/lotte-gets-approval-884m-vietnams-eco-smart-city-44997

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