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According to Lee Jong Kook, general director of Lotte Coralis, the Lotte group member that is constructing the $400 million Lotte Centre Hanoi, the rapid pace of construction demonstrates the group’s commitment to Vietnam.
“Vietnam is one of Lotte’s strategic markets. The construction of the 65-storey Lotte Centre Hanoi underlines the importance Vietnam has in our global strategy,” Kook told VIR.
Despite the real estate market experiencing a downturn and the fact many investors are in financial difficulties, construction on the Lotte Centre Hanoi has maintained a strict schedule.
Construction began on the Lotte Centre Hanoi in October 2009. After over six million hours of continuous construction without accident, the structure of 65-storey building has been finished.
Upon completion, Lotte Centre Hanoi will enhance the global standing of Vietnam with a premium department store, a 320-room hotel, 258 luxury serviced residences, an observatory deck and conveniently located hypermarket.
This building will be not only the symbol of Lotte Group in Vietnam but also a famous architectural landmark thanks to its ao dai (traditional Vietnamese long dress) inspired design.
The Lotte Centre Hanoi features the use of high compression strength concrete to minimise structural size and low heat concrete for innovatively reducing CO2 emissions.
The tower core advancing method and steel outrigger system will mitigate seismic activities of a 7-magnitude earthquake and winds of up to 32 metres per second. Furthermore, a double low-e multi-layer glass will reduce power consumption and foster the building’s air circulation.
The building is expected to complete and come into operation in late June 2014.
The Lotte Group used the opportunity to provide a $100,000 grant to the National Fund for Vietnamese Children in the presence of Vietnam’s Vice President Nguyen Thi Doan – who is also President of National Fund for Vietnamese Children’s Sponsorship Committee.
During its 17 years in Vietnam, Lotte has continuously invested in food and confectionery with Bibica confectionery, Lotte Vietnam Limited Company, Lotteria Vietnam, Lotte Vietnam Shopping, Lotte Cinema Vietnam and Lotte Construction.