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.
- Related News
- Read More
Visa introduces Click to Pay in Vietnam for online shopping experience 'transformation'
Visa has introduced Click to Pay with leading banks and payment facilitators in Vietnam - the first market in Southeast Asia to see the solution that aims to transform online shopping experience.
Finance - Tue, June 10, 2025 | 8:48 am GMT+7
Vietnamese banks leverage national data integration to reach customers
Banks in Vietnam are developing fully digital lending services, enabling customers to apply for and receive loans entirely through online platforms.
Banking - Mon, June 9, 2025 | 11:28 pm GMT+7
Vietnam’s garment-textile exports top $17 bln in five months
Vietnam’s garment and textile exports exceeded $17.58 billion in the first five months of 2025, up 9% year-on-year.
Companies - Mon, June 9, 2025 | 11:21 pm GMT+7
Vietnam's coastal hospitality real estate poised for a new wave of growth
As competition intensifies and the tourism sector rapidly evolves post-pandemic, hospitality real estate investors and hotel operators are adopting more innovative approaches to optimize operations and tap into new revenue streams, write Avison Young Vietnam analysts.
Consulting - Mon, June 9, 2025 | 11:01 pm GMT+7
Rules on private placement bond issuance should be tightened: Vietnam Finance Minister
Allowing only companies that have liabilities five times higher than their equity at maximum to issue bonds via private placement is a necessary move to mitigate risks and prevent abuse, said Finance Minister Nguyen Van Thang.
Finance - Mon, June 9, 2025 | 6:19 pm GMT+7
EV maker VinFast commits to purchasing all output for Vietnamese suppliers
Vietnamese electric vehicle maker VinFast has committed to purchasing all products for domestic suppliers that join its production chain.
Companies - Mon, June 9, 2025 | 5:21 pm GMT+7
Phat Dat affirms leadership role in southern Vietnam's property market following successful launch of La Pura project
The official launch of the La Pura project by Phat Dat Real Estate Development Corp on Sunday in the southern province of Binh Duong made a significant impact, with over 95% of the total inventory in the Zenia sub-zone successfully transacted.
Real Estate - Mon, June 9, 2025 | 4:07 pm GMT+7
Vietnam seeks Samsung partnership in AI-integrated chip design for data centers, telecom networks
Minister of Public Security Luong Tam Quang called on South Korean tech giant Samsung to strengthen its partnership with his ministry in developing Vietnam’s security industry.
Investing - Mon, June 9, 2025 | 3:13 pm GMT+7
Vingroup partners with e-commerce platform Shopee to develop logistics infrastructure
Vietnam’s leading multi-sector conglomerate Vingroup and Shopee, the country’s top e-commerce platform, on Friday signed an MoU to develop infrastructure for e-commerce fulfillment services, enhance digital connectivity between businesses and consumers, and build a sustainable digital ecosystem.
Companies - Mon, June 9, 2025 | 11:48 am GMT+7
Finish fund Pyn Elite spends $41.4 mln on MBB shares of MBBank in May
Finish investment fund Pyn Elite allocated an additional 3% of its portfolio (VND700 billion or $41.38 million) to 26 million MBB shares of MBBank last month, increasing the holding to 12.4%.
Finance - Mon, June 9, 2025 | 11:43 am GMT+7
Fund manager Eastspring Vietnam appoints new CEO
Eastspring Vietnam, one of the largest fund managers in the country by assets under management, last Friday appointed Nguyen Quoc Dung as its new CEO and legal representative.
Finance - Mon, June 9, 2025 | 9:03 am GMT+7
US issues preliminary decision on anti-dumping tariffs for Vietnamese shrimp
The US Department of Commerce (DOC) in the early morning of June 7 released preliminary results of its 19th administrative review (POR19) on anti-dumping duties for frozen warmwater shrimp imported from Vietnam.
Companies - Sun, June 8, 2025 | 8:30 pm GMT+7
U.S. Grains Council signs 5-year cooperation deal with Vietnam
The U.S. Grains Council (USGC) on Friday signed a five-year cooperation agreement with the Partnership for Sustainable Agriculture in Vietnam (PSAV), reaffirming its long-term commitment to Vietnam’s agricultural development.
Economy - Sun, June 8, 2025 | 5:13 pm GMT+7
Bamboo Capital announces senior personnel changes
Under a board of directors resolution effective last Friday, Vietnam's multi-sector conglomerate Bamboo Capital Group has a new deputy general director, while its first vice chairman Pham Minh Tuan resigned to focus on subsidiary Bamboo Energy.
Companies - Sun, June 8, 2025 | 4:05 pm GMT+7
Vietnam signs deals to import nearly $3 bln worth of US agricultural products
Vietnamese businesses accompanying Minister of Agriculture and Environment Do Duc Duy on a six-day visit to the U.S. signed multiple agreements to import nearly $3 billion worth of American agricultural products, expanding bilateral cooperation in the agricultural sector.
Economy - Sun, June 8, 2025 | 10:33 am GMT+7
EPC contract signed for O Mon IV thermal power project in southern Vietnam
An EPC contract signing ceremony for the O Mon IV thermal power project in Can Tho city took place on Friday, at the headquarters of state-owned Petrovietnam - the investor.
Energy - Sun, June 8, 2025 | 8:00 am GMT+7
