LOTTE Engineering & Construction Co., Ltd. Holds Ceremony to Pray for Safety at ‘Thu Thiem Eco Smart City’

【HANOI, Vietnam—Correspondent Kim Joon-seok】Lotte Properties HCMC, the project company established by LOTTE Engineering & Construction Co., Ltd. for development projects in Vietnam, said it held a ceremony at the site on the 23rd to pray for the successful progress of Lotte Eco Smart City Thu Thiem, a new-town project in Ho Chi Minh City. It also met with Phat Dat, a leading Vietnamese real estate company that joined as a partner after acquiring a 35% stake in the local project company, to discuss ways to strengthen cooperation.
Attendees at the event included key Ho Chi Minh City officials, including Nguyen Van Tuoc, chairman of the Ho Chi Minh City People’s Committee; LOTTE Engineering & Construction Co., Ltd. CEO Ilgeun Oh; Jung Jung-tae, consul general in Ho Chi Minh City; representatives of major local financial institutions such as VietinBank and BIDV; and Phat Dat Chairman Nguyen Van Dat. 
In his remarks at the safety ceremony, LOTTE Engineering & Construction Co., Ltd. CEO Ilgeun Oh said, “Thu Thiem will become a new driving force symbolizing Ho Chi Minh City’s economic growth,” and expressed his ambition: “By combining the deep market understanding of our local partner Phat Dat with LOTTE Engineering & Construction Co., Ltd.’s global development capabilities, we will build a mixed-use urban ecosystem that organically connects the city’s functions and its people.”
Lotte Eco Smart City, located in Functional Area 2A of Thu Thiem, Ho Chi Minh City, is a large-scale mixed-use development with a total floor area of approximately 680,000 square meters and five basement levels and 58 above-ground floors. It will bring together offices, commercial and service facilities, a hotel, and 1,143 apartment units.
Thu Thiem District is a key transportation hub directly connected to Ho Chi Minh City’s traditional downtown (District 1) and boasts an exceptional location along the Saigon River. Lotte Properties HCMC plans to maximize these geographic and spatial connections to create a “city within a city (Compact City)” ecosystem that goes beyond simply providing residential and commercial space, where work and living, shopping and culture flow together organically.

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