Description

Eco Smart City Thu Thiem is a high-end mixed-use complex located in Thu Thiem new urban area. It is one of the major riverside developments of Thu Duc City in Ho Chi Minh City. With its prime location opposite District 1 and in front of Central Lake, this project is set to become a prominent landmark of the Saigon River waterfront.
 


The Eco-Smart City Thu Thiem project will build a mammoth-sized complex with commercial facilities including a shopping mall, offices, hotels, service residences, and apartment buildings.
 
The shopping mall will have five basement floors and 60  grondfloors on a 50,000- square-meter site in the Thu Thiem New Urban area of Ho Chi Minh City in Vietnam. Its total floor area will reach 680,000 square meters.

 
The project will cost about US$900 million dollars (about 1.158 trillion won). It is currently in the stage of awaiting approval of the building plan after submitting design drawings to the Vietnamese government.

 
The Thu Thiem Peninsula, the subject of the project is an area that Ho Chi Minh City is developing as a Vietnamese economic hub representing Southeast Asia by benchmark the Pudong District of Shanghai in China.
 
The site of the project abuts on  an area in which highest-quality residential facilities  are concentrated. It is adjacent to an east-west expressway.


Lotte E&C will develop the first smart complex with commercial facilities by applying smart technology at the highest level so that Eco Smart City Thu Thiem will be able to become a landmark in the region.


 
The project is being developed by the Lotte Group from South Korea. Like the other projects on the Thu Thiem Peninsula, this project has been mired in delays and controversies. Initially proposed in 2007, work has yet to start at the end of 2019.
 
One of the major causes of the delay has been to do with land clearance of the proposed development area. While most of the former Thu Thiem village has been cleared, the government could not come to an agreement with the Thu Thiem Parish Church. The church compound sits on the riverfront section of the plots designated for the Lotte development area.
 
After nearly a decade of deadlock the government decided that the church would stay. With this news, Lotte’s previous plan had to be redrawn. The land allocated to Lotte was reduced from 10 lots down to 6, with the 4 reduced lots being the riverfront land.
 
Delays were further compounded by confusion over the planning map of Thu Thiem, which had apparently gone missing.
 
On September 2^nd 2022, Eco Smart City Thu Thiem had ground breaking Ceremony marking to start of building this project.
 
Lotte has recently been expanding its business in Vietnam and Indonesia. Lotte Mart, Lotte Hotel, Lotte Duty Free and Lotte Property & Development are all currently operating businesses in the country.
 
In Indonesia, a petrochemical complex construction project by Lotte Chemical is in progress. It is building a petrochemical complex in Cilegon, Indonesia, a project costing $3.9 billion.

 
Lotte is exiting China. At a board meeting last month, Lotte Shopping decided to sell the Lotte Department Store branch in Chengdu, China. Lotte entered China in 2008 and once had five Lotte Department Store branches and 119 Lotte Marts, but failed to recover from Chinese retaliation after a U.S. missile system was placed in Korea.

Status

• Available

Facilities

• Children playground
• Club house
• Garden
• Swimming pool
• Gym
• Elevator
• BBQ
• Car parking
• Yoga center

Utilities

• Electric stove
• Air-conditioning
• Running water
• Internet with wifi
• Stable electricity
• Back-up generator
• Telephone
• Security 24/24
• Tivi cable
• Water-heater