Saigoneer

BackSociety » Development » Lotte, Japanese Firms Partner up on $2bn Eco Smart City in D2

Lotte, Japanese Firms Partner up on $2bn Eco Smart City in D2

Perhaps the development of Thu Thiem is finally underway with the announcement that South Korean multinational Lotte will team up with two Japanese developers on a US$2 billion mega project in the peninsula across from District 1.


Related Articles:

These 15 Projects Will Change Saigon Forever – Part 1

US$100 Million Budgeted To Return A Saigon Canal To Its Former Glory

World’s Tallest Broadcasting Tower To Be Built In Hanoi


The project, dubbed the Eco Smart City, is the brainchild of Lotte, Mitsubishi and Toshiba which envision “a modern, deluxe center of finance, commerce, and service, and an iconic architecture construction of the southern Vietnamese metropolis,” reports Tuoi Tre.

Spread over 10 hectares of the new urban area, the mini-city, one of Lotte’s largest overseas investments, will house luxury trade centers, hotels, office buildings and apartments.

According to the developer, plans for the project had been in the works for years before finally receiving approval from the city last April.

The chairman of the municipal administration suggested that the groundbreaking take place in September to coincide with Vietnam’s 70th anniversary of independence.

[Tuoi Tre // Image via The Korea Herald]

Related Articles

in Development

$2bn Thu Thiem Eco Smart City Set to Break Ground This Year

A week after the city unveiled Thu Thiem Empire City, a project that will include Vietnam’s tallest building, a group of Asian developers have announced that they will break ground on its neighbor, th...

in Development

'Cable Car' Tourism Developer FLC Group Wants to Build a Mega-Resort in Quang Ngai

Experts and locals have voiced concerns over the impact a proposed mega-resort on the coast in Quang Ngai Province may have on the environment and the local community.

in Development

'House for Trees' in Tan Binh District

Vo Trong Nghia Architects, winners of ArchDaily’s ‘House of the Year’ award, is undoubtedly Vietnam’s leading sustainable/green design firm. One of their latest projects, ‘House for Trees’ was complet...

in Development

15 Projects That Will Change Saigon Forever: Part 1

The area between Bến Thành Market and the Saigon Opera House is undeniably the epicenter of changes to the city’s urban fabric with the construction of pedestrian promenades, subway stations, a n...

in Development

15 Projects That Will Change Saigon Forever: Part 2

The area between Bến Thành Market and the Saigon Opera House is undeniably the epicenter of changes to the city’s urban fabric with the construction of pedestrian promenades, subway stations, a new ad...

in Development

15 Projects That Will Change Saigon Forever: Part 3

The area between Bến Thành Market and the Saigon Opera House is undeniably the epicenter of changes to the city’s urban fabric with the construction of pedestrian promenades, subway stations, a new ad...