Indochina Capital, one of Vietnam’s leading real estate and financial services firms, last week teamed up with Japan’s Kajima Corporation to create ICC-Kajima Development Company – with a view to actively developing property throughout Vietnam over the next decade and beyond.
|ICC-Kajima Development Co. aims to build on the success of its founders and their impressive track record |
Indochina Capital and Kajima Corporation are equal partners in this joint venture, with total investment capital estimated to eclipse $1 billion over the next decade.
The aim of this new joint venture, according to Peter Ryder, founder and chief executive officer of Indochina Capital, is to build on the success and impressive track record of the two companies, by developing quality and innovative real estate projects throughout Vietnam.
“Our goal is to build on our track record as Vietnam’s leading high-end real estate developer. We will continue to promote our vision of sophistication and luxury,” Ryder said. “We have a clear strategy that addresses the current and future demand of the market, with a focus on delivering accommodation-themed projects, while maintaining our unwavering commitment to architectural excellence, environmental sustainability, and social responsibility.”
Moreover, Ryder added that via this joint venture, Indochina Capital will utilise its in-depth experience in local project development and team of seasoned and dedicated professionals to build quality and innovative real estate projects.
Michael Piro, chief operating officer of Indochina Land, further commented that ICC-Kajima will initially focus on urban infill accommodation projects, in the residential and hospitality segments in Hanoi, Ho Chi Minh City, and the south-central city of Danang.
“The company will primarily focus on providing permanent and temporary accommodation in the form of serviced apartments, hotels, and houses, where we have a leading track record and are highly qualified due to our past success in these segments,” said Piro.
Meanwhile Keisuke Koshijima, who heads Kajima Corporation Overseas Division, commented that Vietnam has always been a market of interest to Kajima Corporation.
“Identifying the right partner has been a critical consideration and we are pleased to partner with Indochina Capital in the formation of ICC-Kajima,” he said. “We share a common goal to achieve excellence in every aspect of our operations, management, execution, and performance. We aspire to create superior value for our investors and customers.”
Since its establishment in 1999, Indochina Capital has been a prominent name in Vietnam’s high-end real estate market.
Indochina Land, the company’s real estate division, has been a pioneer in the domestic luxury market with a series of iconic developments across the country, such as The Nam Hai, Six Senses Con Dao, Hyatt Regency Danang, Montgomerie Links Vietnam, and Indochina Plaza Hanoi.
Kajima Corporation, founded in 1840, is one of the four biggest Japanese contractors and the largest Japanese overseas real estate developer.
Kajima Corporation has a global footprint, operating through subsidiaries in North America, Europe, Asia, and Australia. The company has some of the most impressive projects in the industry. These include the Four Seasons Resort Hualalai in Hawaii, one of the world’s most breathtaking resorts, and Senayan Square in Indonesia, one of Asia’s largest multi-purpose developments, which has left a profound mark on Jakarta’s real estate landscape.