Lotte’s ‘ao dai’ tower rises higher in Hanoi

Lee Jong Kook, president of Lotte Coralis Vietnam, told VIR that this would be a big milestone for the second highest building in Hanoi and the third highest building nationwide, to mark the finishing of the framework of the “ao dai” (Vietnam’s traditional dress) shaped building.

  As of last week, the construction was at the 62nd storey of the framework and was at the 52nd storey of glass covering.

  Lotte started construction on the $400 million tower in October 2009. When finished, it will house more than 42,200 square metres of department store space. Inside, there will also be 300 hotel rooms, while 63,500sqm will be earmarked for office space.

Serviced apartments are to take up about 40,000sqm and there is provision for 1,130 parking spaces.

  Different from other projects, all facilities of Lotte Centre Hanoi including hotel, serviced apartments and trading centre will be put into operation at the same time, in June 2014.

  “Time is limited but we are trying to race and finish the whole project as scheduled,” Kook said.

“Although the real estate market is suffering downturn in Vietnam, our project has been implemented smoothly and on schedule,” Kook said.

  He added that the company had contacted big international tenants to prepare for the leasing the property’s facilities.
  When completed, the Lotte tower will be the third highest in Vietnam behind the 72-storey Keangnam Hanoi Landmark Tower in Hanoi and Ho Chi Minh City’s Bitexco tower which has 68 storeys.

  Located at the corner of Lieu Giai and Dao Tan streets, the building’s unique architecture is inspired by Vietnam’s traditional dress.

  Lotte Coralis is one member of Lotte Group which entered the Vietnamese market in 1996 and has since expanded its operations into the food, retail, cinema and construction sectors. It has eight subsidiaries and is committed to continue accelerating its investment here.

  It has become a familiar name with Vietnam through eight sub-companies running four different types of businesses in Vietnam such as Bibica, Bien Hoa sugar, Lotteria Vietnam, Lotte Vietnam, Lotte Vietnam Shopping, Lotte Sea Logistric, Lotte Vina International and Lotte Cinema Vietnam.

  Lotte Group is also known for its commitment to corporate social responsibility. Last week it gave scholarships for 46 students of six universities in Hanoi with the total amount of $13,800 for the first semester of 2012-2013. Since 2008, Lotte Group has offered scholarships for excellent students from prestigious universities in Vietnam, China, Indonesia and Malaysia.