Lotte breaks ground on Eco Smart City project in Vietnam

Industry

Published: 04 Sep. 2022, 17:23 Updated: 04 Sep. 2022, 17:48

Lotte breaks ground on Eco Smart City project in Vietnam

Lotte Group Chairman Shin Dong-bin, right, shakes hands with Phan Van Mai, Chairman of the Ho Chi Minh People’s Committee, at the groundbreaking ceremony of Thu Thiem Eco Smart City in Ho Chi Minh City, Vietnam on Friday. [LOTTE]

Lotte Group held a groundbreaking ceremony for its Eco Smart City project in Ho Chin Minh City, Vietnam.

The ceremony, attended by Lotte Group Chairman Shin Dong-bin, was timed to take place on Vietnam’s Independence Day on Sept. 2nd, Lotte said Sunday.

The Thu Thiem Eco Smart City is a $900-million project that involves constructing a complex of buildings, including a shopping mall, multiple office spaces, a hotel, a cinema and apartment buildings in Ho Chi Minh City.

The scheduled completion date is 2029.

Thu Thiem district is being developed as an economic hub that has been inspired by Pudong District in Shanghai, China, Lotte said.

It said it will make the Eco Smart City into the “best smart city in Vietnam” through a combination of Lotte’s cutting edge smart technologies and distribution knowledge.

Digital health care service and home care service using internet of things and AI will be provided in residential units. At the retail facility, smart payment systems and drone and robot delivery will be supported. Catering will also be handled by robots at the hotel, Lotte said.

“Lotte Group will expand investment in Vietnam with this project as a starting point,” said Shin, while noting that this year marks the 30th anniversary of diplomatic relations between Korea and Vietnam. He added the Eco Smart City will become a Vietnamese landmark.

BY JIN MIN-JI [jin.minji@joongang.co.kr]