Lotte Eco Smart City project in Thu Thiem approved land price 16.190 billion VND

(NLDO)- With the land price approved, it is expected that Lotte Eco Smart City, a "huge" project in Thu Thiem, will soon be implemented after 2 years of stagnation.

On July 8, the Department of Agriculture and Environment of Ho Chi Minh City announced that it had approved the land price of VND16,190 billion for the Thu Thiem Eco Smart Complex project (Lotte Eco Smart City) of Lotte Group (Korea), after many years of project stagnation.

Previously, the Department of Natural Resources and Environment of Ho Chi Minh City (now the Department of Agriculture and Environment) had compiled a list of 22 real estate projects to submit to the Department of Finance for valuation in the fourth quarter of 2024, including the Lotte Eco Smart City project. It is expected that after completing the valuation of these 22 projects, the revenue for the Ho Chi Minh City budget will be about VND 25,483 billion.

Lotte's "huge" project in Thu Thiem approves land price

Lotte Eco Smart City project was proposed by Lotte Group in 1997, with a plan to build on an area of 5 hectares (50,000 m²), including hotels, residential areas, commercial areas, with a total expected investment of more than 20,100 billion VND.

The project is expected to be completed in 2028, located in a prime location in the Thu Thiem urban area, with frontage on major roads and adjacent to the Saigon River. According to Lotte Group, the project design is inspired by Vietnam's natural wonders such as Ha Long Bay and terraced fields, aiming to create an ideal, harmonious living space.

In recent times, Ho Chi Minh City leaders have made efforts to remove obstacles so that projects can fulfill their financial obligations, be licensed and implemented, thereby speeding up progress. However, despite groundbreaking ceremonies and site leveling, the project land is still just an empty lot.

The approval of land prices this time is considered an important step in the process of resolving difficulties in financial obligations for investors, helping the project to be implemented soon, bringing tens of thousands of billions of VND in budget revenue to Ho Chi Minh City, while creating more jobs for workers.

Source: https://nld.com.vn/du-an-khung-o-thu-thiem-da-duoc-phe-duyet-gia-dat-1962507081604318.htm