On September 24th, Sunshine Group confirmed to Người Lao Động reporters that they had submitted a proposal to continue the Thu Thiem Eco Smart City project.
Specifically, according to information from the Ho Chi Minh City People’s Committee, the consortium of Sunshine Joint Stock Company (Sunshine Group) and DIA Investment Joint Stock Company (DIA) has sent a letter to the city’s People’s Committee proposing to continue the Smart Complex Project (Thu Thiem Eco Smart City) in functional area 2a of the new Thu Thiem Urban Area, An Khanh Ward. The project covers a total area of approximately 7.45 hectares.
Previously, Lotte Properties HCMC Co., Ltd., a member of South Korea’s Lotte Group (Lotte), had terminated the contract to implement the Thu Thiem Eco Smart City project after the city announced the approved land price for the project at 16.19 trillion VND.
In 1997, Lotte proposed a plan to build Thu Thiem Eco Smart City, with an expected completion date of 2028 and a total investment of over 900 million USD (approximately 20.1 trillion VND). The project was envisioned as a green, smart city model, fully integrating living, working, shopping, and entertainment functions within a modern, environmentally friendly space, operated with advanced technology.
A corner of the Eco Smart City project in Thu Thiem Urban Area
Sunshine Group and DIA have close ties. Sunshine Group recently approved the acquisition of 115 million DIA shares (51.11%), gaining control of DIA with an equivalent capital of 1.15 trillion VND. This capital transfer is from Thien Long Viet Investment Co., Ltd., with the transaction expected to be completed in 2025.
Upon completion of the deal, DIA will become a subsidiary of Sunshine Group. Mr. Do Anh Tuan, Chairman of Sunshine, will be the representative managing all these shares.
DIA was established in June 2005 and is a real estate company headquartered in Hanoi. DIA is the investor in several industrial real estate projects in Hanoi.
Meanwhile, Sunshine Group is a diversified economic group operating in various sectors, including real estate, technology, construction, education, finance, media, commerce, and services. The group has numerous projects nationwide, including Sunshine Sky City and Noble Crystal Riverside in Ho Chi Minh City.
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