Phat Dat Real Estate Development Joint Stock Company and Lotte Properties HCMC Co., Ltd. have officially signed a Memorandum of Understanding to advance strategic cooperation. The agreement centers on the high-profile Thu Thiem Eco Smart City project, located in the Thu Thiem New Urban Area of Ho Chi Minh City.

The formal signing ceremony took place on May 26, 2026, in Ho Chi Minh City. Mr. Nguyen Van Dat, Chairman of the Board of Directors of Phat Dat Real Estate Development Joint Stock Company, and Mr. Jun Sung Ho, General Director of Lotte Properties HCMC Co., Ltd., represented their respective companies at the event.

The Thu Thiem Eco Smart City project is set to become an iconic urban complex in Thu Thiem. The large-scale development plans to integrate retail shopping malls, modern offices, luxury hotels, premium residential apartments and advanced smart urban amenities. Local authorities expect the development to contribute significantly to establishing Ho Chi Minh City as a new international commercial and financial hub.

According to representatives, the signing of the MoU marks a major step forward in the relationship between the two companies. It opens up immediate avenues to leverage joint strengths in large-scale project development, international real estate experience and construction implementation capabilities. The long-term objective remains centered on creating sustainable asset values.

Through this strategic alliance, PDR intends to confirm its broader corporate strategy of partnering alongside reputable international entities. The management team aims to raise overall project development standards, deliver sustainable value and increase returns for its shareholders, customers and the wider Vietnamese real estate market.