Japan-South Korea Consortium to Build $2.2 Billion Complex in HCM City

Tuan Minh

11:09 29/05/2016

BizLIVE - A consortium of Japanese and South Korean enterprises has been appointed to carry out a $2.2 billion real estate project in Ho Chi Minh City.

Japan-South Korea Consortium to Build $2.2 Billion Complex in HCM City

A perspective view of the Thu Thiem peninsula. (Photo: Cafef.vn)

Ho Chi Minh City authorities have appointed a consortium of Japanese and South Korean conglomerates to carry out a mixed-use real estate project which has been somewhat delayed in the city’s center.
The consortium is comprised of South Korea’s Lotte Asset Development, Lotte Shopping, Hotel Lotte, Lotte Engineering & Construction and Japanese firms namely Mitsubishi Corporation, Mitsubishi Estate, and Toshiba Corporation.
The investors will build Thu Thiem Eco Smart City complex with an investment of $2.2 billion on an area of 10 hectares on Thu Thiem peninsula. The complex will embrace shopping centers, hotels, offices and condos.
Lotte has been after this project since 2009 and has poured $45 million into this multi-component project so far. Its construction is scheduled to start in the coming July.

TUAN MINH