$7m to build Lotte Mart in south

The Korean retailer, Lotte Mart under the Lotte Group, has recently inked deal with Charm Engineering (Korea) to open a trade centre in Di An town, Di An dist, in the southern province of Binh Duong.

Jeon Yong Ho, Charm Engineering Co’s marketing director said that Lotte Mart will do business at Charm Plaza trade centre with five floors covering a site of 12,500 square metres. This 20-year cooperation between the two companies will officially start operation from 2013.

This will be the third trade centre that Lotte Mart has invested in Vietnam after two ones in HCM City.

Charm Engineering, the Korean manufacturer for LCD equipment and semiconductors will invest about $200 million into Charm Plaza project. With a floor area of 363,000 square metres in total area of 50,000 square meters, once finished, Charm Plaza will become a housing complex with about 2,700 apartments, supermarkets and trade centres. This is also the first real estate project that Charm Engineering invests in Vietnam.

Although with strengths in the areas of electronics and semiconductor technology, Charm Engineering is aiming to real estate projects when investing in Vietnam. Currently, Charm Engineering is investing in seven real estate projects in Vietnam with total registered capital of about $895 million. – TBKTSG

Tags: Lotte Mart Vietnam

Posted by VBN on Dec 21 2010. Filed under Retail. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry