HCMC – Nam Long Group has announced its strategic cooperation with three other investors to develop the first phase of Waterpoint Township, a mega ecological residential area in Long An Province.
At a signing ceremony on July 14, the investors, including Nam Long Group, Nishi Nippon Railroad, TBS Group and Tan Hiep Investment Company pledged to contribute to the total investment capital of VND6.9 trillion, or some US$300 million, to develop the first phase of Waterpoint Township, with proportions of 50%, 35%, 10% and 5%, respectively.
Waterpoint Township is considered one of the milestones of the Nam Long Group, proving the corporation’s internal strength as well as its ability to develop the real estate ecosystem, unlock land funds and attract investment capital for Nam Long.
Waterpoint is located at the front of Provincial Road 830 and extends from Duc Hoa Town to HCMC-Trung Luong Expressway and National Highway 1 at the center of Ben Luc Town. The other three facades are surrounded by the Vam Co Dong River.
Waterpoint is only 30-45 minutes away from the Phu My Hung urban area in HCMC’s District 7 or HCMC’s downtown area via the Nguyen Van Linh Parkway or National Highway 1 and Vo Van Kiet Street.
The first phase of the project includes a central park of more than 20 hectares, a university and international school across 17 hectares, and healthcare facilities and a community area spanning three hectares and 2.5 hectares, respectively.
According to Steven Chu Chee Kwang, general director of Nam Long, preparations for Waterpoint – from site clearance and compensation to research and design plans, based on international standards – have been underway for nearly 15 years.
“We strongly believe that Waterpoint will become one of the most desirable urban areas in Southern Vietnam,” he added.
Speaking at the event, Deputy Consul General of Japan in HCMC Hosoya Kazunori praised the cooperation between a Vietnamese firm and Japan’s Nishi Nippon Railroad, noting that Waterpoint not only represented the partnership between the enterprises but, more importantly, symbolized the friendship between Japan and Vietnam.
“Nam Long and the company have continuously partnered in five projects,” said Toru Shigemizu, executive officer at the Housing Business Division and vice division director of Nishi Nippon Railroad, adding that the sixth project, the 165-hectare Waterpoint, was a deep cooperation initiative to share capital contributions, exchange experience in real estate development and manage resident communities with the aim of creating added value for the real estate market in Vietnam.
Waterpoint will be officially launched in the first quarter of 2019- Saigon Times.
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