Japanese investors enter Vietnam’s individual housing market
An individual housing project, called Fuji Residence, will be developed in District 9, Ho Chi Minh City after Nam Long Group and partnership investors Fuji Residence and Nishi Nippon Railroad signed a Memorandum of Understanding (MoU) on April 15.
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Accordingly, the two Japanese investors will buy 50% of the capital poured into the project by ASPL-PLB-Nam Long, a subsidiary company of Nam Long Group while sharing costs with the Vietnamese enterprise to build the project.
Covering an area of 5.38 hectares, Fuji Residence, built at a total cost of VND1.3 trillion (US$58.3 million), will have 84 Valora villas and 789 Flora apartments, located along Rach Chiec River.
According to a representative of the Japanese investors, along with a favourable transport system, an attractive real estate market in Ho Chi Minh City is a compelling reason for Japanese businesses to land investment in the city.
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