Korean contractor Lotte E&C has won a $280m six-star mega-hotel complex in Hanoi for fellow Korean developer Sunkyung E&C.
The Starlake project will consist of two 164m towers with 40 storeys and a total floor area of more than 200,000 sq m. They will contain a 333-room luxury hotel and 317-room serviced apartment block and offices. The two buildings will also have two sky bridges, the higher of them complete with an "infinity pool".
Lotte said it landed the latest order because it had reduced the project’s cost with its pre-construction and value engineering proposals.
The project will be launched in October and is due to be completed by the end of 2024.
Lotte built the Lotte World Tower in Seoul, the highest building in Korea. In Vietnam, it is best known for the 65-storey, 272m Lotte Centre tower in Hanoi, but has recently completed the Lotte Mall Hanoi and the $820m Lotte Eco Smart City Project in Ho Chi Minh City (see further reading).
The scheme signals Lotte’s success in winning residential work outside of Korea, a sector that it first targeted in 2018. As well as Starlake, it is undertaking the FLC Premier Park in Hanoi, a project to build 870 apartments and 870 villas and townhouses.
Outside Vietnam, it is working on the Garden City New East Phase II Project in Jakarta, a project to build 3,300 apartment units, and last year it won a $110m contract to build a 200m Hyatt Regency Hotel in the Mongolian capital of Ulaanbaatar.
Image: Lotte’s rendering of the hotel design