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Japanese investors and Nam Long Group make a project of VND 7000 billion

Monday - 16/07/2018 20:10
After investing in Ho Chi Minh City, Nishi Nippon Railroad Company (Japan) suddenly poured its capital into the project of 355 hectares in Ben Luc, Long An.
Nam Long Group has announced strategic partners to jointly develop the first phase of Waterpoint, Long An, a super-scale project of up to 355 hectares.

According to the agreement, Nam Long and investors Nishi Nippon Railroad, TBS Group and Tan Hiep Investment Company Limited will jointly contribute its capital in proportion of 50-35-10% respectively and 5% the first segment of the urban area with a total investment of 6.900 billion.

The appearance of Japanese investors, Nishi Nippon Railroad has a dominant contribution (35%) compared with its domestic counterparts, just behind investors Nam Long (50%), is changing the taste. Nishi Nippon Railroad is ready to move further away from the center, even to the neighboring provinces of Saigon for investment.

From Waterpoint moving to downtown Ho Chi Minh City or Phu My Hung takes 30-45 minutes to move. Folks can also be transported by waterway along Ben river, Cho Dem river to Bach Dang wharf (district 1) and Tan Thuan port (district 7). In the future, this project will also connect to the depot of 3A in Tan Kien (Binh Chanh) to the center of Saigon.

Cushman & Wakefield, a real estate consulting firm, has valued real estate for 165 hectares, equivalent to 45 percent of the Waterpoint project's 355 hectares. Specifically, the initial land plot of Waterpoint is estimated to cost about $ 65 per square meter, worth $ 107 million (about $ 2,430 billion). Meanwhile, the total area of ​​355 ha is accounted for at the balance sheet as at 31 March 2018 of VND1,504 billion.

In phase one, Waterpoint owns a central park of over 20 hectares; 17 hectares of universities and international schools; 8 hectares of commercial and service area, 3 hectares of medical land, 2.5 hectares of communal living area.

General Director of Nam Long Investment Joint Stock Company, Chu Chee Kwang, said that this super project has spent nearly 15 years preparing for compensation and land clearance to own clean land fund, to study development, design, planning. The project will ensure the long-term development of the business in the next 5-10 years.

Source: Vũ Lê - Vnepress.net

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