Lotte Group to build futuristic smart city
South Korean giant retailer Lotte Group has revealed plans to build an eco-friendly ‘smart city’ complex, along with a separate ‘smart logistics’ hub in Vietnam. The group held the ground-breaking ceremony of the Lotte Eco Smart City Thu Thiem in Ho Chi Minh on September 2. It will invest around US$900 million in the project, according to local sources. Since the company’s initial entry into the Vietnamese market in 1996, this is one of Lotte’s largest projects yet, marking a significant step in the company’s growth there. The complex will house a shopping centre, cinema, office space, hotel, residences, and apartments. Additionally, Lotte Global Logistics Vietnam plans to build an “Integrated Smart Logistics Center” in Dong Nai Province, which is scheduled to be completed in 2024.