HANOI, May 4 (Engineering Daily) -- A smart complex project in Thu Thiem New Urban Area (district 2) that is over 7 hectares will be built by Korea Lotte Group with total capital of VND 20,100 billion (equivalent to nearly US$884 million).
The Ho Chi Minh City People’s Committee has selected the Republic of Korea’s Lotte Group as the investor of a smart complex project in the city’s Thu Thiem New Urban Area (District 2).
It aims to develop a multifunctional finance-trade-service and residential center in which finance, trade and service functions play a crucial role in the core area of Thu Thiem.
Covering more than 7 hectares, the Smart Complex will consist of transport and infrastructure of about 2,4 hectares. Roads and technical infrastructure inside the complex and connecting with other areas in Thu Thiem will also be constructed under the project. The investor has right to do business and operation in relation to laws.
Particularly 4 sections of road including N15, N16, D8, D10, the investor will totally handover to the state agencies for management. In particular, the N15 and N16 will connect the Boulevard R1 to Lakeside road R2.
The project is scheduled to be carried out in 72 months since the approval of the investor and will be operated in 50 years by Lotte.
Earlier, in order to be selected as the investor for the project, Lotte Group agreed to pay a deposit of VND 2,000 billion to be allocated to six plots of land in Thu Thiem New Urban Area. At the same time, pledged to invest in complete technical infrastructure of the whole area 2a to soon establish the center of finance - banking, trade and services.
As planned, the functional area 2a in the core area of Thu Thiem New Urban Area has a total area of nearly 17 hectares. Of which, the development area of the project is about 12.55 hectares, including 12 plots of land planned for building international financial and banking centers, hotels, trade, services and multi-function residential housing and educational buildings.
