Nam Long acquires 70 per cent stake at Waterfront City from Keppel

February 14, 2019 | 09:34
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Nam Long Investment Corporation has recently announced the acquisition of a 70 per cent stake in Dong Nai Waterfront City Limited Company from Portsville Pte., Ltd., a subsidiary of Singapore’s Keppel Corporation.

Dong Nai Waterfront City has been licensed to develop a township of the same name in Dong Nai province, and the VND2.3 trillion ($100 million) acquisition will see Nam Long develop a 170-hectare plot in the project.

nam long acquires 70 per cent stake at waterfront city from keppel
Waterfront City has easy to access inter-regional arterial roads and many public facilities

A Nam Long spokesperson said the Dong Nai Waterfront City project has received the decision on land allocation, approval for its 1/500 planning, and the land use rights certificate for more than 170 hectares, and has paid the land use fees.

The project is expected to be built in 2019-2025 at a cost of VND9.2 trillion ($400 million). When finished, the township will have more than 4,000 villas and 3,000 apartments, as well as a range of commercial facilities.

In addition to buying a stake in the Dong Nai Waterfront City, Nam Long also announced an investment of more than VND1.228 trillion ($53.4 million) in last November to establish Paragon Dai Phuoc One Member Limited Liability Company to develop another property project in Nhon Trach district in Dong Nai.

The 192ha Dong Nai Waterfront City is located in Long Hung commune in Bien Hoa city, adjacent to the Dong Nai River and separated from the VinCity project in Ho Chi Minh City’s District 9 by a river.

This is the heart of the southern key economic region and has the most dynamic and developed economy and infrastructure in Dong Nai province.

From the project, it will be easy to access inter-regional arterial roads such as National Road 51, National Highway 1A, Hanoi Highway, My Phuoc-Tan Van-Nhon Trach Avenue, Ho Chi Minh City-Long Thanh-Dau Giay Expressway, the future Long Thanh International Airport, and Metro Line No.1 (Ben Thanh-Suoi Tien-Bien Hoa), and others.

This area is also home to a number of large industrial parks such as Bien Hoa 1 and 2, Amata, Long Binh, Tam Phuoc, and Long Thanh, where tens of thousands of experts and workers work and live.

Besides, the township is also located in close proximity to the Son Tien eco-tourism area, Long Thanh golf course, Shing Mark Hospital, and the Long Thanh and Bien Hoa city administrative centres, and offers easy access to Vietnam National University, Suoi Tien tourist complex, Cancer Hospital 2, the new Mien Dong Bus Station, and Saigon Hi-Tech Park of Ho Chi Minh City, providing added convenience to future residents.

Importantly, Dong Nai Waterfront City is located in the centre of the area the province plans to turn into an eco-urban area with trading and services along the Dong Nai River. Many large projects are planned here, including Long Hung Urban Area and Aqua City.

In the future, it will be a bustling urban complex located between the major economic hubs of the south such as Ho Chi Minh City, Bien Hoa city, Binh Duong New City, and Vung Tau city.

Nam Long, with more than 26 years of experience in property development, is simultaneously building three townships – the 26ha Mizuki Park and the 8.5ha Akari City in Ho Chi Minh City as well as the 165ha SouthGate, which is the first phase of the 355ha Waterpoint Township in Long An province – together with two leading Japanese property groups, Hankyu Realty and Nishi Nippon Railroad, and a number of domestic businesses.

By Bich Ngoc

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