HCMC okays design for commercial center within $900 mln Lotte project
Ho Chi Minh City’s Department of Planning and Architecture has approved the design for a commercial center within South Korean conglomerate Lotte’s $900-million Thu Thiem Eco Smart City project.
Winning design for a commercial center within the Lotte Eco Smart City under construction in Thu Thiem urban area, Thu Duc city, Ho Chi Minh City. Photo courtesy of HCMC Department of Planning and Architecture.
The chosen design is a contest winning submission by Netherlands-based consultant CallisonRTKL. Selecting the design is expected to speed up the project that has been sluggish to date.
Lotte Properties HCMC Company Limited will collaborate with CallisonRTKL on incorporating the winning design in building the commercial center.
Area designated for Lotte Eco Smart City project, Thu Liem urban area, Thu Duc city, Ho Chi Minh City. Photo courtesy of znews.vn
In 2013, HCMC approved Lotte to carry out a feasibility study for a $2.2 billion real estate development project covering 12.5 hectares.
In July 2017, HCMC authorities and Lotte signed an revised agreement to deploy the project with an investment of $900 million. The project, which has a prime 7.5 hectare location in the southern metropolis, will feature financial centers, commercial-service centers and residential areas.
Construction, which is ongoing, began in September 2022.
Thu Duc city, Vietnam’s first city within a city, has become notorious for major projects experiencing site clearance hassles.
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