Photo: Minh Tuan
Two come together with a focus on residential and hospitality real estate.
Indochina Capital signed an agreement on September 16 to establish a new joint venture with Kajima Corporation, a major Japanese construction and real estate development company with a global presence in key markets around the world.
Indochina Kajima Development Ltd. (ICC - Kajima) aims to build on the success and impressive track records of the two companies, developing quality and innovative real estate projects throughout Vietnam.
Mr. Peter Ryder, Founder and CEO of Indochina Capital, said: “We are very excited about utilizing Indochina Capital’s foundation - our in-depth experience in local project development and our team of seasoned and dedicated professionals - in partnership with Kajima to build quality and innovation real estate projects to take full advantage of the opportunities that Vietnam presents as it continues to march into the future.”
“Vietnam has always been a market of interest for the Kajima Corporation,” said Mr. Keisuke Koshijima, who heads Kajima’s Overseas Division. “Identifying the right partner has been the critical consideration and we are pleased to partner with Indochina Capital in the formation of ICC - Kajima. We share a common goal of achieving excellence in every aspect of our operations, management, execution, people and performance. We aspire to create superior value for our investors and customers.”
Indochina Capital was established in 1999 and has been a prominent name in Vietnam’s high-end real estate market. Indochina Land, its real estate division, has pioneered the domestic luxury market with a series of iconic developments around the country, such as The Nam Hai, Six Senses Con Dao, Hyatt Regency Danang, Montgomerie Links Vietnam, and Indochina Plaza Hanoi.
Indochina Land has solidified its lasting reputation through a consistently strong commitment to quality, innovation, timeless designs, environmental sustainability and sophisticated luxury.
Kajima Corporation, founded in 1840, is one of the big four Japanese contractors and Japan’s largest overseas real estate developer. Its global footprint comes through subsidiaries in North America, Europe, Asia and Australia. The company’s most impressive projects include the Four Seasons Resort Hualalai, Hawai, 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.
It has immense financial strength and credibility, with its stock listed on four leading exchanges in Japan.
“ICC - Kajima will initially focus on urban in-fill accommodation projects, in the residential and hospitality segments, in Hanoi, Ho Chi Minh City and Da Nang,” said Mr. Michael Piro, Chief Operating Officer of Indochina Land. “The company will be primarily focused on providing permanent and temporary accommodation in the form of hospitality-serviced apartments-hotels and residences for sale. These are areas where we have a market-leading track record and are highly confident of building on our success in these segments.”
The move by Indochina Capital underscores the group’s continued growth and commitment to developing high-quality projects in Vietnam.
“We will continue pioneering with our vision of sophistication and luxury,” said Mr. Ryder. “We have a clear strategy that addresses the current and future demands of the market with a focus on delivering accommodation-themed projects while maintaining our unwavering commitment to architectural excellence, environmental sustainability, and social responsibility. The joint venture will bring exceptional value to its partners, customers, investors and the community.”
Indochina Capital and Kajima Corporation are equal partners in the new joint venture, with total investment estimated at $1 billion over the next decade.