Bank and real estate giants team up

April 26, 2021 | 09:51
Indochina Kajima Development Ltd., a joint venture from Indochina Capital and Kajima Corporation, last week signed a strategic partnership with VietinBank with the aim to provide the market with innovative real estate that addresses both current and future demands.
bank and real estate giants team up
The Indochina Kajima joint venture will be assisted by VietinBank’s know-how in financial services and more

With an investment commitment of $1 billion in Vietnam, Indochina Kajima aims to develop a portfolio of resorts, urban hotels, residential areas, offices, and industrial projects. It is committed to creating innovative real estate, enriching the communities in which it operates.

The company’s first statement in Vietnam is Wink Hotels – a chic, fun, vibrant hotel brand born in Vietnam for Vietnam with a pipeline of over 20 hotels across the nation. Indochina Kajima last month celebrated the opening of Wink Hotel Saigon Centre in District 1, which was followed by a groundbreaking ceremony for a luxury resort project in Bai Nom, in the central province of Phu Yen.

The company is also looking to develop industrial and logistics real estate in major markets such as Ho Chi Minh City, Haiphong, Bac Ninh, Danang, Vinh Phuc, Dong Nai, and Binh Duong.

“This partnership aims to strengthen cooperation at a higher level between Indochina Kajima and VietinBank in activities including financial services, banking services, branding, and communications,” said VietinBank CEO Tran Minh Binh “Both companies will leverage advantages and strengths to support one another in our business expansion and development, in compliance with the laws.”

Indochina Capital CEO Peter Ryder added, “Indochina Kajima has a clear strategy that addresses the current and future demands of the market while maintaining unwavering commitment to architectural excellence, environmental sustainability, and social responsibility. We believe all our developments are more than just a building or a brand, but all part of a lifestyle movement, changing the way people travel, work and live. We are proud to have VietinBank join us as a strategic partner in this transformational journey.”

VietinBank is a leading commercial bank in Vietnam in terms of total assets and accounting for nearly 12 per cent of lending market share, with stable capital and a solid customer base. VietinBank has maintained its position as a key commercial bank, a major contributor to the development of Vietnam’s banking industry, and to the socioeconomic development of the nation.

VietinBank has been a partner to Indochina Kajima in various projects and the bank will be providing banking and financial services to Indochina Kajima’s future projects in Haiphong, Hanoi, and Phu Yen, among others

Indochina Capital, founded in 1999, is one of Vietnam’s leading real estate advisory, investment, and development companies with a portfolio of iconic landmarks including the Four Seasons the Nam Hai, Six Senses Con Dao, Hyatt Regency Danang, Indochina Plaza Hanoi, and Indochina Riverside Towers Danang.

Founded back in 1840, Kajima Corporation is one of Japan’s top contractors and real estate developers with a global footprint including some of the world’s most iconic properties, such as the Four Seasons Hualalai in Hawaii, Saint Endréol Resort in France, and Senayan Square in Jakarta.

Indochina Capital first entered into a joint venture with Kajima Corporation in 2016. to launch real estate development platform Indochina Kajima. The venture is fully committed to creating innovative real estate developments that build value for partners, clients, and investors, while providing fulfilling opportunities for employees and enriching the communities in which it operates.

By Hoang Anh

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