17:18 (GMT +7) - Sunday 21/10/2018

Property

Nam Long partners again with Japanese investors to develop Akari City

Released at: 14:00, 26/04/2018

Nam Long partners again with Japanese investors to develop Akari City

Photo: Nam Long

Local developer announces further cooperation with two Japanese investors to develop HCMC project, which will be introduced in Q3.

by Hong Nhung

The Nam Long Group continued its long-term partnership with two leading Japanese investors - the Hankyu Hanshin Properties Corp. (formerly Hankyu Realty, from Osaka) and Nishi Nippon Railroad (from Fukuoka) - at a signing ceremony for a cooperative arrangement for and the announcement of a new project, Akari City, in Ho Chi Minh City’s Binh Tan district.

Nam Long and the two Japanese investors will make a 50/50 contribution to the total investment of around $175 million needed to carry out the Akari City project, which will be one of Nam Long’s key projects over the next three to five years.

Akari in Japanese means “the light” and represents freedom and spirit in entertainment. The project is designed in accordance with the concept of being a vibrant “multi-utility residential city”, with commercial facilities and unique services to meet residents’ needs in food, entertainment and education.

Akari City has a strategic location in Binh Tan district for both residential and commercial purposes. Its total floor area is about 54 ha, consisting of 4,600 apartments designed under the standards of Nam Long’s Flora product line, with separate facilities. Residents will be also able to enjoy all the benefits of a township, including a 13,000 sq m area with shopping and food and beverage (F&B) options.

“This year is a very special year as its marks the 45th anniversary of diplomatic relations between Japan and Vietnam,” said Mr. Kawaue Jyunichi, Consul General of Japan in Ho Chi Minh City. “Economic and cultural ties between the two countries are growing stronger and deeper. I hope that the Akari City project will become a symbol of Japan-Vietnam friendship.”

“Nam Long and the two Japanese partners are increasingly tightening the good relationship to create not only homes but also a real estate system, where properties for various purposes, such as commercial properties, schools, hospitals, services, and entertainment are developed synchronously, creating residential communities with high quality and unique lifestyles,” said Mr. Steven Chu Chee Kwang, CEO of the Nam Long Investment Corp.

“We have found at Nam Long a business strategy of providing high quality houses at affordable prices, which makes a major contribution to the development of the local area and community and fits in with our standpoint,” said Mr. Kazumasa Ohchi from Hankyu Hanshin Properties.

“We have together developed four projects,” he went on. “Fortunately, all were successfully carried out and received positive feedback from customers. This fifth project is a combination of our understanding and Nam Long’s great experience. We hope to create added value for the housing sector in Vietnam. Akari City will be officially introduced in the third quarter of this year.”

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