Lotte Abandons $900M Eco Smart City Project in HCMC
Lotte Properties HCMC Co., Ltd. has announced the termination of its $900 million Lotte Eco Smart City project in the Thu Thiem New Urban Area. The Ho Chi Minh City Department of Finance received this announcement on August 20, 2025.
The project, planned to cover 50,000 square meters, was to include a shopping mall, hotel, office buildings, serviced apartments, and a residential complex. It was set to have five underground floors and 60 above-ground floors, incorporating smart technologies. The project broke ground in September 2022 but has not yet been completed.
Lotte Group's chairman, Shin Dong Bin, previously stated that this project marked the beginning of Lotte's investment expansion in the real estate sector in Vietnam. However, the reason for the project's termination remains unclear. The search results do not provide specific reasons, and no detailed public source has been mentioned. The Thu Thiem area has seen other projects, such as a surplus of 3,790 apartments, which were originally part of a relocation program.
The Lotte Eco Smart City project, with a total investment of $900 million, has been terminated. The project's future remains uncertain, and the reasons behind its termination are yet to be officially disclosed.
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