A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Lotte bắt tay Phát Đạt chính thức khởi công siêu dự án 60.000 tỷ đồng tại 'đất vàng' Thủ Thiêm
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real estatehousingbanksVietnam
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Related tickers and likely impact
PDR
▲ Likely positivePhat Dat Real Estate
Relevance: high
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Real Estate |
| Industry | Real Estate Holding & Development |
| Market cap | 11,974 bn VND |
| P/E | 19.5 |
| P/B | 0.95 |
| Close on 10/22/2026 | 12.05 |
| Change that session | +0.42% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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