Lotte Engineering and Construction (Lotte E&C), a member of South Korean giant Lotte Group, has entered into a strategic partnership with major HCM City-based property company Novaland for developing high-end projects.
Jun Sung Ho, general director of Lotte E&C Vietnam, speaks about the company’s journey in Vietnam and its commitment to creating an iconic high-end residential development as the main contractor for Novaland’s flagship project, the Grand Manhattan.
Could you tell us about Lotte E&C’s track record in development and its experience in building high-end residential projects?
Lotte Group is the fifth largest conglomerate in Korea, expanding its business and contributions to the economy with 107 affiliated companies.
As a main member of Lotte Group, Lotte E&C is one of the top 10 general contractors in Korea with revenues of US$5.25 billion last year.
Lotte E&C, established in 1959, has carried out many construction projects including buildings, housing, civil and infrastructure works, and plants among others.
Also, as a developer and investor, Lotte E&C has created the luxury apartment brand name Lotte Castle in Korea, and it is leading the luxury housing market by consistently offering high quality and creating customer satisfaction.
In 2018 Lotte E&C brought 20,794 apartments into the Korean housing market, and took on housing projects in Vietnam and Indonesia as a developer and investor.
After the completion of the 123-storey Lotte Super Tower, the tallest building in Korea, Lotte E&C has been acknowledged for its construction know-how and also enjoys a great reputation in Vietnam after the completion of the 65-storey Lotte Centre Hanoi.
To date Lotte E&C has completed Lotte Centre Hanoi, Lotte Mart in HCM City and the Yen Vien-Lao Cai railway, and has engaged in building three major expressway projects including the Danang-Quang Ngai and Lo Te-Rach Soi expressways.
Lotte E&C embodies the vision of a ‘Lifetime Value Creator’, expressing its commitment to become a sustainable company offering significant values of Total Construction Service to our customers in every moment.
The signing ceremony between Novaland Groups and Lotte E&C
Why did Lotte E&C decide to partner with Novaland and take on the role of main contractor for the Grand Manhattan high-end residential project?
When seeking partnerships, Lotte E&C focuses on the reputation and strategic vision of the partner. Novaland, a local developer creating great consumer satisfaction and with an excellent reputation, shares our business values and corporate management style, which were eventually the factors that convinced us to partner with them for the development of various shared projects.
With Lotte E&C's high value-added technology and site management expertise with respect to high-rise buildings and high-end apartments and Novaland's local know-how, the partnership is expected to generate significant synergy effects.
The partnership prioritises high-quality results and consumer satisfaction, which is expected to contribute to the overall advancement of the Vietnamese real estate market in the near future.
What will be your main responsibilities as the main contractor of Novaland’s flagship Grand Manhattan project?
We pledge to secure both the client’s and customers’ satisfaction. Lotte E&C assures quality control throughout the construction process by applying our extensive construction know-how accumulated over the years, dispatching highly experienced experts and committing our utmost efforts to prevent accidents.
Moreover, we pledge to minimise environmental damage by using eco-friendly methods and installing a real-time monitoring system.
Together with Novaland, we are highly committed to bringing only the highest-quality apartments and utilities to homeowners in the Grand Manhattan.
The swimming pool on seventh floor of The Grand Manhattan
How has Lotte E&C prepared for this contract?
For the Grand Manhattan project, Lotte E&C will send experts with a wealth of experience and deep understanding of luxury apartments. Also, people having working experience in Vietnam, such as those formerly engaged in the construction of Lotte Centre Hanoi and other works, will be given priority as they have already adapted to the Vietnamese culture and can share their experience in site management in Vietnam.
Lotte E&C will ensure building quality and site safety by strictly adhering to site management manuals. The quality of materials will also be monitored using our state-of-the-art material management system.
What sets Lotte E&C apart from other contractors and what unique values will you bring to the Grand Manhattan?
Our company’s three primary goals are quality, construction progress and safety. Lotte E&C will also work hard to upscale the value Novaland brings to the project, and will strive to fulfill the needs of residents.
Lotte E&C will create apartments that residents and owners can call home and be satisfied with in the years to come.
Vietnam is one of Lotte Group’s priority markets. Lotte E&C’s strategic approach to the market includes keeping a fine balance between contracted works and investments. This strategy enables Lotte E&C to contribute to Vietnam’s economic growth.
As a result, we are confident to say that Lotte E&C is the best contractor Vietnamese clients can select.
What feature of the Grand Manhattan has impressed you the most?
The Grand Manhattan project is a luxurious apartment project located in District, Ho Chi Minh City. It is themed after New York’s Manhattan city, and will definitely become one of the city’s most high-end apartments offering nearby infrastructure and commercial facilities.
Novaland, a developer with a respectable track record in project development, leveraging the success of its previous projects and Lotte E&C’s proven capacity for luxury apartment development, will provide the best project possible.
Lotte E&C will strive to roll out top-of-the line apartments to the satisfaction of their owners who will not regret their choice while living for decades in the apartments.
By co-operating with Novaland, Lotte E&C will provide an iconic new standard for luxury apartments, setting the bar high for future high-end projects in Viet Nam.