Lotte and Phat Dat officially signed Investment Cooperation Agreement for the Lotte Eco Smart City Thu Thiem Project

HCMC, June 26, 2026 – Lotte Group and Phat Dat Real Estate Development Corporation (PDR: HOSE) have officially signed the Investment Cooperation Agreement for the Lotte Eco Smart City Thu Thiem project. The signing marks a significant milestone in the development of one of the largest and most strategically located urban projects in Thu Thiem New Urban Area, Ho Chi Minh City. The signing ceremony took place at Lotte Saigon Hotel, attended by senior executives of both parties and representatives of their strategic partners.

Lotte Eco Smart City Thu Thiem is located in Division 2A, the core area of Thu Thiem New Urban Area, which has been planned as Ho Chi Minh City's new international administrative, financial, commercial, and service hub. The project spans across six contiguous land plots (Lots 2-1 to 2-6) with a total site area of approximately 7.54 ha, being one of the few remaining large-scale development sites in the city center.

The site is adjacent to Thu Thiem Central Square and Central Lake, directly connected to the Thu Thiem Tunnel, and overlooks the Saigon River with unobstructed views of Ho Chi Minh City's existing central district—one of the most iconic locations within the new urban area.

In terms of transport infrastructure, the project enjoys exceptional multimodal connectivity, with direct access to To Huu Metro Station, Ba Son Bridge, and the transportation network around HCMC International Financial Center. Notably, the project is located next to Thu Thiem Metro Station, the starting point of the Thu Thiem–Long Thanh Metro Line, which will provide direct connectivity to Long Thanh International Airport. The area also falls within the service coverage of Metro Line No. 1 (Ben Thanh–Suoi Tien) and its extended section leading to Dong Nai and Long Thanh. This integrated transport infrastructure is expected to accelerate the emergence of Ho Chi Minh City's new administrative and economic center over the coming decades.

Lotte Eco Smart City Thu Thiem is a large-scale mixed-use urban development comprising Grade A office towers, commercial and retail podiums, hospitality and service facilities, and public spaces, all integrated within a unified ecosystem designed to international standards for urban planning, development, and management. The project's total investment is estimated at VND 60 trillion.

Under the transaction structure, Phat Dat will co-develop the residential component across Blocks 2-2, 2-4, and 2-6. In addition, Phat Dat will serve as the developer of the commercial towers in Blocks 2-1 and 2-3, as well as the four-storey commercial and service podium and the basement levels.

This transaction structure enables Phat Dat to both partner with Lotte in developing the residential component and take the lead in developing key commercial assets, thereby expanding its presence in HCMC's new central district.

Through this participation, Phat Dat becomes a direct co-developer of one of the largest urban developments in the core area of Thu Thiem, while reinforcing its strategy of concentrating resources on high-value assets in central Ho Chi Minh City.

Leveraging Lotte's international expertise in urban development and Phat Dat's more than 20 years of experience and in-depth understanding of the Vietnamese market, the two companies aim to develop the project in accordance with international standards, supporting Ho Chi Minh City's development of a new international administrative, financial, commercial, and service center.

Speaking at the ceremony, Mr. Shin Man Soo, Vice Chairman of Lotte E&C, stated: “Lotte Eco Smart City Thu Thiem is one of Lotte's flagship projects in Vietnam. We believe that the combination of Lotte's international development expertise and Phat Dat's deep understanding of the Vietnamese market will provide a solid foundation for delivering a project that meets the highest international standards and creates sustainable value for all stakeholders.”

Representing Phat Dat, Mr. Nguyen Van Dat, Chairman of the Board of Directors, remarked: "Lotte Eco Smart City Thu Thiem is not only a large-scale investment project but also a project of special significance in accelerating the development of Thu Thiem New Urban Center. With the combined strengths of Lotte and Phat Dat, we are confident that the project possesses all the essential attributes to become a new icon of modern urban development in Vietnam while making a meaningful contribution to the robust growth of Ho Chi Minh City."