City People’s Committee HCMC has decided to select the consortium of Lotte Group as an investor in the smart complex at the 2a functional area of Thu Thiem New Urban Area, District 2 with total capital invested VND 20,100 billion.
The four Lotte Group companies in the consortium include: Lotte Asset Development Co. Ltd., Lotte Shopping Co. Ltd., Hotel Lotte Co. Ltd. and Lotte Engineering & Construction Co. Ltd.
The scale of this smart complex project is comprised of commercial and mixed-use complexes on an area of approximately 5.12 hectares. 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.
The duration of construction work is 72 months and exploited for 50 years with total investment capital (excluding compensation and ground clearance expenses) of VND 20,100 billion. This fund will be arranged by the investor.
Previously, in order to be selected as an investor for the project, Lotte Group agreed to pay a deposit of VND2,000 billion to be allocated to six plots of land in Thu Thiem new urban area. At the same time, it pledged to invest in the complete technical infrastructure of the whole area 2a to soon form the center of finance – banking, trade and services.
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.
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