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.
