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Kim Long Nam officially "debuts" in real estate market

Released at: 17:21, 15/01/2018

Kim Long Nam officially "debuts" in real estate market

Photo from kimnamlong.com.vn

Group signs two strategic partnerships that place it firmly within the country's property sector.

by Quang Huy

The Kim Long Nam Group officially "debuted" in Vietnam’s real estate market on January 14, signing two strategic partnership with Singapore’s Manhatton Hotel Group (MHG) and the Saigon - Hanoi Bank (SHB).

Established in 2015 with charter capital of VND2 trillion ($88.6 million), the group has operated in the real estate sector since then but took the opportunity presented by the signing of the strategic partnerships to officially "debut" in the sector. It has five initial strategic brands: Kim Long City, which focuses on urban areas, Kim Long Season, in the condotel-hotel segment, Kim Long Ocean, in resorts, Kim Long Plaza, with commercial centers, and Kim Long Tower, in apartments - hometels.

Positioning itself as a pure Vietnam enterprise with a pioneering spirit but at the same time harmonizing its growth between rapid and sustainable development, CEO of Kim Long Nam Group Mr. Nguyen Hai Dang said the group hopes to create value for every customer, every employee, and every plot of land that the group sets foot in, helping to create a transparent real estate market in the country.

During the 2017-2018 period, the group has been deploying three projects including the Kim Long City Lien Chieu, Kim Long Ocean Thuan Phuoc, and Kim Long Season My Khe, with total investment of more than VND3.2 trillion ($141.7 million). By occupying the remainder of rare coastal locations in Da Nang, together with detailed planning and reasonable selling prices, the projects have captured great interest from the real estate community, with 94 per cent of products at Kim Long City Lien Chieu being booked for purchase on the first day of its launch.

Being one of the leading hotel corporations in Southeast Asia, with a network of more than 60 hotels and resorts ranging from three to five stars in more than 20 countries around the world, MHG, under the partnership agreement, would officially become the operator managing two of the five strategic projects of Kim Long Nam: Kim Long Season and Kim Long Ocean.

MHG currently manages five hotel brands: Manhattan, Grand View, Manle, Park Regis, and Leisure Inn, serving many customer segments, ranging from tourists to businesspeople. It now has more than 10 million members worldwide, with annual membership growth of 20 per cent.

With a long-term development strategy, MHG wishes to expand its operation to Vietnam in 2018, where tourism and real estate resorts have been developing rapidly. According to the cooperation agreement signed between the two parties, Kim Long Season My Khe Resort will be the first in Vietnam to be managed and operated under the Manhatton brand within the MHG system.

Customers who own Kim Long My Khe’s apartments will have the opportunity to experience a holiday at MHG’s 60 hotels in 20 countries around the world.

“We think that when entering a market, it is very important to choose the right partner to develop the first project, as it has a lot to do with the success of MHG in that market,” said MHG CEO Mr. Davey Dang. “After thoroughly studying the business philosophy of the Kim Long Nam Group, evaluating the projects the group has been deploying, and reviewing every detail, we realize this is a serious and reliable partner.”

The ceremony also marked the beginning of comprehensive cooperation between Kim Long Nam and SHB. The agreement will confirm the transparency of projects implemented by Kim Long Nam, creating peace of mind for investors and contributing to the sustainable development of the real estate market.

“The participation of a prestigious financial partner like SHB also confirms the effectiveness and reliability of projects the Kim Long Nam Group is implementing,” Kim Long Nam Group’s Mr. Dang said.

For its part, “the projects that have been implemented by Kim Long Nam are also highly appreciated by our financial experts for their liquidity and potential development,” an SHB representative said. “Therefore, I believe this cooperation is ready to develop to new heights and bring success to both the Kim Long Nam Group and SHB.”

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