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The project is one of the largest projects in Thu Thiem urban area. Total investment of this project is up to VND20,100 billion (equivalent to nearly $1 billion).
Earlier in 2009, Lotte Group has learned the information as well as investment opportunities in the project of Eco Smart City Thu Thiem. By 2013, Lotte has proposed to invest in a smart complex in the functional area number 2a of Thu Thiem New Urban Area.
According to the approved plan, functional area 2a is located in the central core area of Thu Thiem New Urban Area with a total area of nearly 17ha. In particular, the area of land development project is about 12.55ha, including 12 plots of land are planned to build the building to form international financial-banking center, hotel, commerce, services, people multifunctional and educational buildings.
At the end of April, Ho Chi Minh City has decided to approve the results of the consortium of Lotte Asset Development, Lotte Shopping, Lotte Hotel company and Lotte Engineering and Construction company are investors in this smart complex project.
The scale of this smart complex project consists of commercial and mixed-use commercial and residential complexes on an area of 5.12 ha. Financial, trade and general services play an important role in the core area of Thu Thiem New Urban Area.
In addition to the area of intelligent complex construction, the investor has also completed the construction of four road sections and technical infrastructure outside the complex in combination with the infrastructure of Thu Thiem New Urban Area Land near 2.4ha. Investors are entitled to trade and exploit the works in accordance with the law.
Particularly for 4 road sections including N15, N16, D8, D10, the investor will hand over all the state management. In particular, the N15, N16 will connect the arc lane R1 to the center lake R2.
In order to be selected as the investor for the Smart Smart Eco Smart City project, in August 2015, Lotte Group agreed to deposit VND2,000 billion in land use fees to be allocated to 6 land plot in Thu Thiem New Urban Area.
Previously, the project Eco Smart City in addition to the above subsidiaries of the Lotte Group participated in the project, the partnership also includes Japanese investors include Mitsubishi Corporation, Mitsubishi Estate Co. Ltd. and Toshiba Corporation. However, up to now, this investment project has only 4 companies under Lotte Group.
Thu Thiem urban area is located on Thu Thiem peninsula (District 2, Ho Chi Minh City), opposite District 1 via Saigon River, with a total area of 657 hectares. Approved by the government in 1996, the peninsula is expected to become a global financial and commercial hub and is expected to be the most beautiful city in Southeast Asia.
To invest in building Thu Thiem new urban area, Ho Chi Minh City took 10 years to clear nearly all of Thu Thiem peninsula, about 15,000 households have moved to make room for this super project. The city has mobilized nearly VND30,000 billion to pay compensation and resettlement.
According to the plan, Thu Thiem urban area is divided into 5 main areas: “central core”, northern residential area, residential area along Mai Chi Tho Avenue, eastern residential area and delta area. southern. At present, the land fund in Thu Thiem is not much when many investors quickly grow up. Let’s reverge through the names that have contributed to changing Thu Thiem’s appearance:
Functional Area 2A: Lotte area of 16.7 hectares will be invested by Lotte and its subsidiaries $ 2.2 billion to develop the Thinh Thinh Eco Smart City complex comprising of commercial centers, offices, hotels and apartments. The tower is 50 storeys high.
Functional Area 2C: Covering an area of 31.5 hectares, including cultural facilities interwoven with multifunctional commercial area.
Development of the Empire City urban area project in functional area 2B including 13 apartment towers, offices, of which there is an 86-storey complex tower.
In early 2016, Phat Dat Joint Venture, Investment and Infrastructure Development Joint Stock Company 620 – Construction Investment Development Joint Stock Company 168 announced to invest 5,200 billion VND to build Thu Thiem 4 bridge in exchange for the city. Phat Dat will give 11 treasuries valued at more than 3 trillion dong in Thu Thiem.
Owning 3 plots of land in Thu Thiem: Lot 3.7, 3.3, 3.11 total area of 4 ha is used to develop Xi Thu Thiem housing complex with total floor area of 232,439 m2.
Being the investor of the complex of Song Viet complex with an area of 4.8 hectares in functional area No.1. The total investment value is up to VND 7,200 billion.
>>>See more information about the real estate market here: Vietnam real estate market
CII owns 7 plots of land in Thu Thiem with a total area of 9.6 ha, building two projects: Thu Thiem Lake View and Marina Bay Thu Thiem.
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