Lotte E&C Signs Partnership with Phu Cuong Investment

Key officials from Lotte E&C and Phu Cuong Investment of Vietnam led by Han Yong-soo, a division head of Lotte E&C, 6th L, and Chairman Nguyen Phu Cuong, 8th R, pose for a photo session after a recent signing a strategic partnership agreement between the two companies. (Photo: Lotte E&C)

Lotte Engineering and Construction (E&C) announced on Aug. 9 a strategic partnership with Vietnamese developer the Phu Cuong Investment JSC on the development of housing, service and commercial projects in Vietnam.

In addition to signing this agreement, the two sides also signed a shareholder agreement for the pilot implementation of their first apartment project, in Thanh My Loi ward in Ho Chi Minh City’s District 2, which is expected to promote the development of further projects in the future between the two companies.

The Thanh My Loi apartment project is in a favorable location adjacent to the Saigon River, about 500 meters from District 2’s administrative center. With apartment space integrated with an open architectural system plus a convenient location, the apartments will enjoy fresh air and have full-service utilities for residents. Upon completion the project will provide 751 high-end apartments with total investment of around $65 million.

There will be two 25-story apartment blocks and commercial facilities. Ground will be broken in October and the complex will be completed in May 2020. Lotte E&C’s stake is 51 per cent and sales are expected to hit about $98 million.

“I am confident that with the brand and capacity of Lotte as well as the reputation and experience of Phu Cuong Investment in Vietnam, we will be capable of strongly and effectively competing in and developing the real estate commercial services business in the country,” said Ms. Nguyen Thi Ngoc Nhu, General Director of the Hau Giang Trade - Construction - Investment JSC, a subsidiary of Phu Cuong Investment.

“At the same time, the contract signed today for the first pilot project in the city’s District 2 begins future cooperation in other project developments between the two companies, not only in the real estate sector but also in other areas such as restaurants, hotels, and tourism.

”Lotte E&C, meanwhile, is accelerating its overseas housing projects after selecting Vietnam and Indonesia as its bases among developing countries.

Representatives from the two companies also hope that this cooperation will be in line with the Vietnamese Government’s development orientation towards international trade integration and calls for major foreign investors with high technology to make Vietnam one of the leading economies in the region and the world.
Korean conglomerate Lotte Group has been chosen to develop a 74,500-sq-m “smart city” in the southeast of Ho Chi Minh City in southern Vietnam.

The development will be on the 657ha Thu Thiem New Urban Area, located in a loop of the Saigon River, which the city is planning to launch as a leisure destination and financial hub in the mould of London’s Docklands. The construction value of the scheme will be $820m, not counting the purchase value of the land.

Lotte was chosen by the City’s People’s Committee. Nguyen Thanh Phong, the chairman of the committee, Shin Dong Bin, the chairman of Lotte, signed the agreement 25 July. Phong applauded Lotte’s record of investment in Vietnam, and added that the group’s products, which include everything from fast food to electronics, had made it a well-known brand in the country, local media report.The final agreement was a reward for Lotte’s persistence in dealing with Vietnamese bureaucracy: the group first received provisional approval for the development in 2014.

Construction will begin as early as next quarter and is expected to complete in 2023. The district will include a trading floor for banks and brokers, a banking centre, hotels, an office tower and residential buildings.

롯데건설, 베트남 현지 공동주택 개발사업 공동투자 협약 체결

베트남 푸끄엉 그룹과 725가구 규모의 공동주택 개발사업 공동투자 협약체결

롯데건설(대표이사 하석주)은 어제(8일) 베트남 호치민 내 ‘롯데 레전드’ 호텔에서 베트남 푸끄엉(Phu Coung) 그룹과 베트남 현지 푸끄엉 펄(Phu Coung Pearl) 공동주택 개발사업을 위한 공동투자 협약 체결식을 진행했다.

이번 협약은 베트남 푸끄엉(Phu Coung) 그룹의 응웬 비엣 끄엉(Nguyen Viet Cuong) 회장과 롯데건설 해외영업본부 한용수 본부장이 참석한 가운데 진행됐으며, 호치민에 725가구 규모의 아파트 단지를 개발하는 푸끄엉 펄(Phu Coung Pearl) 프로젝트 사업이다.

롯데건설의 지분은 51%로, 본 사업은 향후 분양매출 약 9천8백만달러(약 1천98억원) 규모로 예상된다.

이번 프로젝트는 베트남 호치민에서도 배후 주거지구로 각광을 받고 있는 탄미로이 신도시 내에 위치하고 있으며, 지상 25층, 2개동 규모의 공동주택 725가구와 상업시설로 계획되었다. 금년 10월에 착공하여 2020년 5월 준공할 예정이다.

푸끄엉 펄 개발사업 위치도

롯데건설은 이날 푸끄엉 펄(Phu Cuong Preal)개발사업에 공동투자를 위한 주주협약과 본 사업의 주식 51%를 인수함으로써 본 사업투자를 통하여 베트남 주택개발사업을 위한 선도적인 기반 마련했다는 평가를 받고 있다.

베트남 푸끄엉 그룹은 베트남 호치민에 대규모 토지를 보유하고 있는 중견 디벨로퍼로, 호치민 내 3,400세대 규모의 아파트사업과 남부 락지아에 60만평 규모의 신도시사업 등을 추진하고 있다.

푸끄엉 그룹의 응웬 비엣 끄엉(Nguyen Viet Cuong) 회장은 “롯데건설은 건축, 주택, 인프라, 플랜트 등 다양한 분야의 전문기술력과 앵커 테넌트 유치 능력을 강점으로 복합개발사업과 대규모 신도시 개발사업에 노하우를 가진 건설회사이며, 본 사업을 통하여 장기적인 파트너사로서 향후 동반성장이 기대된다.”고 설명했다.

협약식에 참석한 롯데건설 해외영업본부 한용수본부장은 “롯데건설은 푸끄엉(Phu Cuong)그룹과 협력을 통해 시너지 효과를 기대하고 있으며, 롯데건설의 국내 주택개발 노하우를 접목하여 차별화된 베트남 주거시장 발전을 위해 최선을 다할 것”이라고 말했다.

롯데건설과 베트남 푸끄엉 그룹의 주요 관계자들이 단체 촬영 중이다. (왼쪽에서 여섯 번째 롯데건설 한용수 본부장과 왼쪽에서 일곱 번째 베트남 푸끄엉 그룹의 끄엉 회장)

롯데건설은 해외 개발도상국 중 베트남, 인도네시아를 거점 국가로 선정하고 해외주택사업추진에 적극적인 노력을 기울이고 있다. 이번 협약체결은 롯데건설 해외주택 개발사업 추진을 위한 전사적 노력의 결과로 향후 주택개발사업 및 대규모 신도시 개발사업 등 롯데건설의 개발사업 능력을 베트남에서 발휘할 예정이다.

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