Nam Long Group has officially announced that its strategic Japanese investor Nishi Nippon Railroad will join the development of the Nam Long Dai Phuoc township in Dong Nai province.
This is the eighth time that Nishi Nippon Railroad cooperates with Nam Long in developing affordable, high-end, and integrated townships in Vietnam.
As agreed, Nam Long Group will transfer part of its capital contribution at Paragon Dai Phuoc One Member LLC to Nishi Nippon Railroad for the joint development of the Nam Long Dai Phuoc urban project with the total land area of 45 hectares.
|The Nam Long Dai Phuoc township project is a key project for Nam Long Group |
The project is located in Dong Nai province, adjacent to the eastern area of Ho Chi Minh City. According to Kouichi Hayashida, representative of Nishi Nippon Railroad, with its population of about three million people and fast-paced economic development, the province has been selected as an investment destination by many experienced Japanese companies.
“Housing development has been rapid recently, along with the development of transport and social infrastructure, making us very confident in the future development of the real estate industry in Dong Nai in general and Nam Long-Dai Phuoc project in particular,” said Hayashida.
Meanwhile, Tran Xuan Ngoc, group CEO of Nam Long Investment Corporation said that a month ago, Nishi Nippon Railroad announced investing with them in the Ehome affordable housing product line with units priced below VND1 billion ($43,480).
“And today, they once again join Nam Long in a high-class urban project. This shows the Japanese partner's trust in Nam Long's products. I hope, like our previous cooperation on the 165ha Waterpoint project in the west, Nam Long Dai Phuoc will soon become one of the most livable urban areas in the east of the city,” Ngoc said.
Nam Long Dai Phuoc will be officially introduced to the market in 2022. It is located on Dai Phuoc island, surrounded by the Saigon River.
With a prime location adjacent to District 2 and District 9 (now Thu Duc City) of Ho Chi Minh City, Paragon Dai Phuoc is easily accessible through important traffic routes such as National Highway 51, Ho Chi Minh City-Long Thanh-Dau Giay Expressway, Ben Luc-Long Thanh Expressway and Long Thanh airport in the future.
Especially, when Cat Lai Bridge and Ring Road No.3 are completed, the project will be within easy reach of the central business District 1.
Additionally, Nam Long Dai Phuoc is located along an 1,200m stretch of the Cai River and integrates outstanding facilities due to its proximity to the central park, Teakwang Jeongsan golf course, as well as internal facilities such as riverside landscape parks, community clubs, marinas, and educational and medical facilities.
Currently, the project has fully completed land compensation for site clearance, paid land use fees, received approval for its 1/500 master plan, and has been issued a land use right certificate.
According to the plan, the project will be developed by Nam Long and Nishi Nippon Railroad with mainly high-class semi-detached houses and villas. In a similar location, villa products in other projects are selling at around VND6.5 billion to VND60 billion ($282,600 to $2.6 million) per unit.