Author: the-shiv

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Real estate: Lotte pulls out of Vietnam Thu Thiem Eco Smart City project on long delays, soaring costs

Lotte Properties HCMC, a subsidiary of South Korea’s Lotte Group, has moved to terminate its long-delayed Thu Thiem Eco Smart City project in Ho Chi Minh City, VN Express has reported. The city’s Department of Finance confirmed it received a request from the developer on 20 August to end the investment contract, but said the company has yet to complete the legal procedures required.

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