$884 million for building smart complex in Thu Thiem

The HCMC People’s Committee and Lotte Group on Tuesday organized a contract signing ceremony to develop a smart complex at functional area 2a in Thu Thiem new urban area, District 2, HCMC at the total cost of VND20,100 billion (US$884 million).

The signing ceremony of the smart complex in Thu Thiem (Photo: SGGP)

The signing ceremony of the smart complex in Thu Thiem (Photo: SGGP)

The project will be built over 7.45 hectares. Of these, over 5.012 hectares will be used for building commerce and service works and multifunctional residential areas comprising buildings with unique architecture.
The remaining area of 2.439 hectares will be used for developing four road stretches and technical infrastructure system outside the complex. The system will be built synchronously with the complex’s infrastructure.
Construction time is expected to be 72 months.
Stating at the ceremony, chairman of the city People’s Committee Nguyen Thanh Phong welcomed Lotte Group to leave a deposit and pay nearly VND2 trillion ($88 million) of land use fee to build the project. That shows the group’s commitment as well as determination to invest in the complex.
The project will apply information technology in management to serve residents’ lives in accordance with a smart eco urban area.
After the signing ceremony, Mr. Phong proposed the group to work closely with city agencies and the management board of Thu Thiem new urban area to conduct following steps to begin construction in the third quarter this year.

By HANH NHUNG – Translated by Hai Mien

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