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Lotte Group, Mitsubishi Corporation, Mitsubishi Estate, Toshiba Corporation
Under construction · Est. 2028 · Pre-sale
$2.2 billion Lotte-Mitsubishi-Toshiba joint venture in the core of Thu Thiem's IFC zone — 60-story landmark tower, Toshiba smart city technology, Saigon River frontage, and the largest Korean-led real estate investment in HCMC.
Lotte Eco Smart City is a 7.45-hectare mega mixed-use development in Thu Thiem's IFC zone, directly on the Saigon River. Developed by Lotte Group (Korea) in a joint venture with Mitsubishi Corporation, Mitsubishi Estate, and Toshiba Corporation, the project represents a $2.2 billion total investment — the largest Korean-led real estate venture in Ho Chi Minh City. The masterplan features 10 towers ranging from 12 to 60 stories, delivering approximately 1,400 apartments alongside A+ office towers, a 5-star hotel, and Lotte Mall. Residential towers are designed by NBBJ; the commercial complex by CallisonRTKL. Toshiba provides integrated smart city infrastructure covering energy management, IoT building systems, and automated logistics. All apartments have 3.2-meter ceiling heights and the complex sits on 5 basement levels built to NFPA fire safety standards. The project occupies Functional Zone 2A — the core of Thu Thiem's designated international financial center — adjacent to Thu Thiem Central Square and the Saigon River pedestrian promenade.
Balanced for both end-users and investors.
Massive $2.2B bet on Thu Thiem's future by blue-chip Korean-Japanese consortium. Ownership restructuring progressing — Son Kim Land (Metropole developer) among potential 35% stake partners, HCMC Finance Dept recommends approval. Metro Line 2 broke ground January 2026 and infrastructure is physically advancing. Less alarming than 6 months ago, but still no sales date, no building permits, and formal stake transfer approval pending. Cautiously more positive — speculative but moving.
| Project | Price | Distance |
|---|---|---|
| Empire City | 205 triệu/m² | 0.4 km |
| The Metropole | 290 triệu/m² | 0.7 km |
End-user: Mixed project (6.0-6.9 band). Thu Thiem IFC location and blue-chip developer consortium are genuinely strong, but the developer exit scare, pending construction permits, no official sales, and 2028+ delivery timeline create too much uncertainty for owner-occupiers. Legal weakness alone caps the score below 7.0.
Investor: Mixed project (6.0-6.9 band). The Thu Thiem appreciation thesis is proven by Empire City and Metropole, but this project has zero liquidity, no sales, pending permits, and active ownership restructuring. Too speculative for most investors — only suitable for high-risk-tolerance buyers with 5-10 year horizons.
| Developer | Lotte Group, Mitsubishi Corporation, Mitsubishi Estate, Toshiba Corporation |
| Construction | Construction |
| Completion | 2028 |
| Total Units | 1400 |
| Towers | 10 |
| Handover | 2028 |
| Construction Permit | pending |
| Pink Book | not_issued |
| Pink Book % | 0% |
| Legal Notes | Land use fee of 16,190 billion VND paid July 2025. Lotte signaled project exit Sep 2025 but reversed course Oct 2025 after HCMC pledged continued support. HCMC Finance Department recommended in-principle approval for Lotte to transfer up to 35% stake to outside investors — potential partners include Son Kim Land, Phat Dat Real Estate, and Huong Viet Investment. Formal approval from HCMC People's Committee pending. Master plan (1/500) and environmental approvals completed. Building permits still pending — infrastructure construction underway, basement/foundation expected complete mid-2026. Sales not yet officially opened. NFPA 5000 (2021) fire safety standard adopted. |
Eco Smart City
| CBD (peak) | 15-25 min via Thu Thiem Tunnel |
| CBD (off-peak) | 8-12 min |
| CBD (motorbike) | 10-15 min |
| Airport (peak) | 35-50 min |
| Airport (off-peak) | 25-30 min |
Affluent professionals, Korean and Japanese expats connected to the Lotte-Mitsubishi ecosystem, and upper-income Vietnamese families seeking Saigon River waterfront living in Thu Thiem's financial district.
Register early for priority pricing when sales open