To Invest US$900mn in Landmark Project
Lotte Group has started the construction of Thu Thiem Eco Smart City in Ho Chi Minh City, a project to build a large-scale commercial and residential complex at the Thu Thiem district in the Vietnamese city.
A groundbreaking ceremony was held on Sept. 2, Vietnam’s Independence Day, with the attendance of some 380 people, including Lotte Group chairman Shin Dong-bin, Korean Ambassador to Vietnam Park No-wan, and Phan Van Mai, chairman of the Ho Chi Minh City People's Committee
The smart city will be built on a site of 50,000 square meters, accommodating a 60-story shopping mall with a total floor space of about 680,000 square meters, offices, a hotel, residences, cinemas and apartments. The Ho Chi Minh City government is developing the Thu Thiem district into an economic hub modeled after the Pudong District of Shanghai, China.
Lotte plans to invest US$900 million to build Vietnam’s best smart city by combining its cutting-edge smart technology and distribution know-how.
The residential area will enhance convenience and safety through real-time information sharing using big data, and offer home care services and remote treatment services using the IoT and artificial intelligence (AI). The complex will offer Vietnam’s highest level of smart life base on a big data analysis.
Offices will feature a facial recognition smart access system and artificial intelligence reservation management system. The complex's distribution facilities will feature smart payment systems, drones, and delivery robots using Lotte’s rich distribution know-how. The hotel will create and provide new experiences that have not been seen before in Vietnam, such as smart concierge services and catering services by robots.
“This year marks the 30th anniversary of the establishment of diplomatic ties between Korea and Vietnam, and with this project as a new beginning, Lotte Group will further expand its investment in Vietnam,” Loot chairman Shin said. “We will make Thu Thiem Eco Smart City a landmark representing Vietnam in the future.”