Lotte Eco Smart City Thu Thiem complex restarts construction, total investment 60,000 billion VND

The Lotte Eco Smart City Thu Thiem complex in functional subdivision 2A, Thu Thiem New Urban Area, An Khanh Ward, HCMC, restarted construction on the morning of 23/10/2026 after years of standstill due to legal issues and land financial obligations. The project is jointly developed by Lotte Group and Phat Dat Real Estate Development JSC.

Project scale and structure

• About 7.45 ha, comprising 6 adjacent lots, planned as a multi-purpose complex: offices, shopping centre, services, accommodation and housing.
• Estimated total investment is VND 60 trillion (about USD 2.32 billion), nearly VND 40 trillion more than the previously announced VND 20,100 billion.
• The developer is Lotte Properties HCMC Co., Ltd., with participation from Lotte Shopping, Hotel Lotte, Lotte Engineering & Construction and Phat Dat.
• Phat Dat holds 35% of Lotte Properties HCMC’s charter capital, takes part in developing the residential blocks, and is in charge of two commercial – service – office towers, 2-1 and 2-3, with a total floor area of about 219,722 m2.
• Lotte develops commercial block 2-5, including the tower, the retail – service podium and basements. Three partner banks are MB, VietinBank and BIDV.

Past milestones

• The project was studied from 1997, the investment contract was signed in 2017 and a groundbreaking ceremony was held in September 2022, but it could not proceed as planned.
• In June 2025, HCMC approved the project’s land price at a total of over VND 16,190 billion.
• In late July 2026, Lotte Properties HCMC completed its land financial obligations.
• On 23/10/2026, construction restarted. At the ceremony, HCMC People’s Committee leaders asked the developer and contractors to ensure progress, quality, worker safety and legal compliance during construction.

Location and connectivity

• The site is near the central square and central lake of Thu Thiem.
• It connects to the existing city centre via the Thu Thiem Tunnel and Ba Son Bridge.