Lotte Group and Phat Dat Real Estate Development Joint Stock Company have signed an investment cooperation agreement to develop the Lotte Eco Smart City Thu Thiem project. The official signing ceremony took place at the Lotte Saigon Hotel with senior executives from both corporations and partner firms in attendance.

The multi-functional urban complex requires an estimated total investment of approximately 60,000 billion VND. It will feature Grade A office towers, commercial premises, accommodation and retail areas across 7.54 hectares in functional zone 2A of the Thu Thiem New Urban Area. The site covers six adjacent land plots numbered 2-1 to 2-6.

Under the agreed transaction structure, Phat Dat will co-develop the residential elements situated in blocks 2-2, 2-4 and 2-6. The Vietnamese firm will also steer the development of two commercial high-rise structures in blocks 2-1 and 2-3, alongside a four-floor commercial podium and underground basement levels. The partnership allows Phat Dat to expand its presence within the core district of Ho Chi Minh City by managing key commercial properties alongside the joint housing venture.

The project site is positioned next to the central square and central lake of Thu Thiem, offering views of the Saigon River and the existing city centre. It links directly to the Thu Thiem tunnel and enjoys access to regional transport networks. The development sits adjacent to the To Huu Metro station, Ba Son bridge and the upcoming Thu Thiem Metro station, which serves as the starting point for the future Thu Thiem to Long Thanh international airport line. It is also within reach of Metro Line 1.

“Lotte Eco Smart City Thu Thiem is one of Lotte’s key projects in Vietnam. We believe that the combination of Lotte’s international development experience and Phat Dat’s deep understanding of the Vietnamese market will create a solid foundation for implementing a project that meets the highest standards and delivers sustainable value to all stakeholders,” said Mr. Shin Man Soo, Vice President of Lotte E&C.

Mr. Nguyen Van Dat, Chairman of the Board of Directors at Phat Dat, stated: “Lotte Eco Smart City Thu Thiem is not only a large-scale investment project but also holds special significance in promoting the formation of the new Thu Thiem urban center. With the partnership of Lotte and Phat Dat, we believe the project has all the conditions to become a new symbol of modern Vietnamese cities, while also making a positive contribution to the strong development of Ho Chi Minh City.”