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23 July 2009

S Korea’s Lotte to spend $361mn in Hanoi complex

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Lotte Department Store, operated by South Korea’s Lotte Shopping, plans to invest 450 billion won ($360.7 million) in building a multi-purpose complex in Hanoi, Vietnam, Reuters quoted the company as saying Wednesday.

Lotte Department Store has decided to build a 65-story Hanoi City Complex, which will also house its Hanoi store branch, hotel and office units, the company said in a statement.

Lotte's Hanoi store is scheduled to open in the second half of 2013, which will make it Lotte Department Store's fourth overseas store branch.

Lotte Department Store currently has branches in Russia and China.


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