08:13 (GMT +7) - Sunday 21/10/2018

Property

Nam Long announces stategic investors in Waterpoint Township Phase 1

Released at: 08:49, 17/07/2018

Nam Long announces stategic investors in Waterpoint Township Phase 1

Photo: Khanh Chi (VET)

Group and three investors to develop project's Phase 1, to be introduced by Q1/2019.

by Hong Nhung

The Nam Long Group has announced the strategic investors joining Phase 1 of the development of the Waterpoint Township in the Mekong Delta’s Long An province. This is a significant milestone for the Group, proving its internal strength, its ability to develop a real estate ecosystem, and its ability to unlock land funds and attract investment capital.

Nam Long, Japanese investor Nishi Nippon Railroad, the TBS Group, and Tan Hiep Investment will contribute to the total investment capital of around $300 million to implement Phase 1 of Waterpoint Township, with estimated proportions of 50 per cent, 35 per cent, 10 per cent, and 5 per cent, respectively. The project will secure the sustainable development of Nam Long in the next five to ten years.

Waterpoint covers 165 ha and is located on Provincial Road No. 830, extending from Duc Hoa Town to the Sai Gon - Trung Luong Highway, National Highway No. 1 and the Ben Luc town center. The other three facades are embraced by the Vam Co Dong River.

In Phase 1, Waterpoint will include a central park of over 20 ha, 17 ha for a university and international school, 3 ha for healthcare services, and a 2.5-ha community living space.

“Preparations for Waterpoint have been carried out for almost 15 years, from land clearance and compensation to research, design and planning according to international standards,” said Mr. Steven Chu Chee Kwang, General Director of Nam Long. “The process takes into consideration the sustainability and solutions for preserving the natural surroundings and protecting the local ecological environment, including the whole water surface and 50-meter wide natural vegetation corridor along the banks of the Vam Co Dong River. We strongly believe that Waterpoint will become one of the most desirable urban areas in the south of Vietnam.”

“Nam Long and ourselves have partnered in five projects,” said Mr. Toru Shigemizu, Managing Director and Deputy Director of the Housing Business Division at Nishi Nippon Railroad. “We strongly believe in Nam Long by the way they make their commitments to us in particular and our customers in general. This sixth project deepens and broadens our cooperation. Not only sharing capital contributions, we will be working together to exchange experiences in real estate development and in managing residential communities to create added value for Vietnam’s real estate market.”

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