S.Korea's Lotte to invest $884.5 mln in Vietnam property project

Lotte Shopping

26/07/2017 04:30

HANOI, July 26 (Reuters) - South Korean conglomerate Lotte 
Group has signed a contract with Ho Chi Minh City's authority to 
invest 20.1-trillion-dong ($884.25 million) in a property 
project, Vietnamese government website said in a statement on 
Wednesday. 
    The group's four firms, Lotte Asset Development, Lotte 
Shopping  023530.KS , Lotte Hotel  HTLOT.UL  as well as Lotte 
Engineering and Construction  LTCNS.UL , will build a smart 
complex that will have commercial and residential spaces, the 
statement said. 
    Construction of the complex is expected to start by the 
third quarter of this year and will be built in 72 months.  
 ($1=22,731 dong) 
 
 (Reporting by My Pham; Editing by Himani Sarkar) 
 ((my.pham@thomsonreuters.com; +844 3825 9623; Reuters 
Messaging: my.pham.thomsonreuters.com@reuters.net)) 
 
Keywords: LOTTE VIETNAM/