Retail in Asia


Vietnamese smart city to be built by Lotte Group

The Lotte Group is in the process of building facilities as part of its Eco Smart City project in Vietnam. With this project, the company will build its smart logistic centre and buildings in an eco-friendly compound. Since Lotte first entered the Vietnamese market in 1996, this will be its greatest project to date, marking a significant milestone for the company.

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As part of its expansion plans to secure a strong presence and foothold in Southeast Asia, the South Korean multinational conglomerate plans to construct an environmentally-friendly smart city complex and integrated smart logistic centre.

Lotte Group Chairman Shin Dong Bin attended the ground-breaking ceremony for its USD 900 million Thu Tiem Eco Smart City complex on Sunday, September 4.

Source: Lotte
Source: Lotte

“This year marks the 30th anniversary of the establishment of diplomatic relations between Vietnam and South Korea, so the project will be the starting point for Lotte’s upcoming investment expansion activities in Vietnam,” added Shin Dong BinThe project will cover a total of 680,000 square metres of floor space. With the space consisting of five basements, multiple towers, the tallest of which will be 60 stories, a shopping centre, cinema, offices, a hotel, residences and apartments. Besides home care and IoT telemedicine, the group also intends to provide remote diagnosis services. To enhance the smart living environment, big data analysis and artificial intelligence will be incorporated.

Source: Lotte

The project will be built in Ho Chi Minh City, formerly known as Saigon, the largest city in Vietnam. Taking inspiration from Shanghai’s Pudong District, the Thu Thiem District is currently developing as an economic centre that represents Southeast Asia.

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This multimillion-dollar smart city project is scheduled to be completed by 2029. By applying its advanced smart technologies and distribution knowledge, Lotte hopes to make this complex the best smart city in Vietnam.