Information Realestatevietnam has grasped, the project of smart city Thu Thiem (Eco Smart City Thu Thiem) will be commenced on the occasion of September 2 this year.
Eco Smart City: The upcoming billion dollar project in Thu Thiem
This is the information agreed by Mr. Lee Kwang Young – Managing Director of Lotte Asset Development Company (Lotte Group, Korea) at the meeting on 16/4 with the leaders of HCM City People’s Committee.
According to representative of Lotte Group, Thu Thiem Eco Smart City is an important project in the central core area of Thu Thiem New Urban Area so the investor will be determined to implement the project right after full implementation related legal process.
Lotte Asset Development’s CEO, Lee Kwang Young, said that Lotte’s project team is currently completing the best planning project for the Thaitiem Eco Smart City project. It is expected that by the end of April this year, Lotte will submit this plan. Lotte hopes to complete the necessary procedures to launch the Thu Thiem Smart Complex project on the occasion of the National Day of Vietnam on September 2, 2018.
Lotte Asset Development (Lotte Asset Development), Lotte Shopping Company (retail development including Diamond Plaza department store, Lotte Hotel (hotel management), Lotte Engineering and Construction (construction).
It is expected that Thu Thiem Eco Smart City will have a total investment capital of VND20,100 billion, invested in the land with a total area of 7.45 hectares; The project area is 5,012 ha (6 lots are marked 2-1, 2-2, 2-3, 2-4, 2-5 and 2-6) to build the works. General service and multi-function residential with total floor area of about 505,000 sqm, including buildings with unique architecture will be the highlight of Functional Area 2a.
Time to invest in construction project is 72 months and exploit for 50 years. The funds will be arranged by the investor.
Thu Thiem new urban area has a total area of 657 ha, located on the Thu Thiem peninsula (District 2, HCMC), opposite District 1 overlooking the banks of the Saigon River. Adopted by the government in 1996, Thu Thiem peninsula is expected to become a global financial and commercial hub and is expected to be the most beautiful urban area 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 VND 30,000 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 area and southern residential. 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:
The projects of Dai Quang Minh in Thu Thiem
Functional areas 5 and 6: 128ha of Sala urban area
Functional Area No 8, the 150-hectare delta in the south, consists of 3 small projects: ecological resort, amusement park and research area.
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- The project will build 4 main roads linking functional areas
- Thu Thiem 2 Bridge
- Waterfront Park and Park
- General project of Dai Quang Minh Sala
- Dai Quang Minh Sala is located in Thu Thiem Function Area 5 and 6
Lotte Group projects in Thu Thiem
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.
Vingroup’s projects in Thu Thiem
Functional Area 2C: Covering an area of 31.5 hectares, including cultural facilities interwoven with multifunctional commercial area.
The projects of Keppel Land – Tien Phuoc – Tran Thai joint venture in Thu Thiem
Development of the Empire City residential area at functional area 2B includes 13 apartment towers, offices, of which there is an 86-storey tower complex.
Phat Dat’s projects in Thu Thiem
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 VND 5,200 billion to build Thu Thiem 4 bridge in exchange for the city. Phat Dat will give 11 treasuries valued at more than VND3 trillion in Thu Thiem.
The projects of GS E & C 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 232,439sqm.
Projects of Loc Phat in Thu Thiem
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.
CII projects in Thu Thiem
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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