Lotte raises investment in mega mixed-use project in HCMC to $2.28 bln, partners with local developer Phat Dat South Korea's Lotte Group has nearly tripled the planned investment for its long-delayed Lotte Eco Smart City project in Ho Chi Minh City to around VND60 trillion ($2.28 billion) and signed a cooperation agreement with Phat Dat Real Estate Development Corp. (HoSE: PDR) to jointly develop parts of the project. The agreement, signed on Friday, marks the latest step in advancing one of the largest mixed-use developments in Thu Thiem New Urban Area, where the project occupies one of the last sizeable land parcels in the district's central core. The revised investment value is significantly higher than the VND20.1 trillion initially approved when the project received its investment licence. Located in Functional Zone 2A, the project spans approximately 7.54 hectares across six land plots designated 2-1 to 2-6. The site sits adjacent to Thu Thiem's Central Square and central lake, with direct access to the Thu Thiem Tunnel and views across the Saigon River toward downtown HCMC. The development is also expected to benefit from major transport infrastructure planned for the city's future International Financial Center, including the Ba Son Bridge, To Huu and Thu Thiem metro stations, as well as the proposed Thu Thiem-Long Thanh metro line linking the city center with Long Thanh International Airport, located in the neighboring city of Dong Nai. Under the master plan, Lotte Eco Smart City will comprise Grade A office towers, a shopping mall, hospitality facilities and high-end residential apartments built to international standards. Earlier plans envisioned 11 towers ranging from five to 50 storeys on a site of more than 74,500 square meters. Under the cooperation agreement, Phat Dat will co-develop the residential component on plots 2-2, 2-4 and 2-6. This company will