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Thursday, May 2, 2024 9:21:29 AM - Markets open
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Japan's Mitsubishi bets on Vietnam's real estate market
Báo Thanh niên - 7/28/2016 1:01:11 PM
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Mitsubishi Corporation has announced its partnership with Vietnam's real estate conglomerate Bitexco in developing a middle-class housing project in Hanoi.

The Japanese trading house will hold a stake of 45 percent in the joint-venture that will build 8,700 condominium units at an initial cost of 30 billion yen (US$286.41 million), Mitsubishi said in a press release on Wednesday.

The housing project will be part of a $1.9 billion new urban area project being developed by Bitexco. About eight kilometers from Hanoi's center, the Manor Center Park, as the area officially known, will house a park, commercial and office buildings besides sporting facilities.

Mitsubishi's new move in Vietnam is part of its efforts to capture a bigger slice of Asia's rising middle class, news website Nikkei Asian Review reported. It has reportedly developed several middle-class housing projects in China, Indonesia, and the Philippines.
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19/04 Ministry requests Hà Nội to inspect rising prices of apartments
17/04 Real estate market has positive performances in Q1: VARS
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28/03 Management of real estate brokers to be tightened
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18/03 Lots of ground to cover to build 130,000 social housing units this year
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Older News
22/07 New players in real estate market
20/07 Vietnam's realty conglomerate Bitexco raises stake in hotel chain
20/07 Housing market imbalance emerges
11/07 Big real estate developers eyeing hotels
11/07 Việt Nam needs more affordable housing
09/07 Local property market grows
09/07 Growing VN property sales to foreigners
06/07 Foreign investors interested in property M&As in Vietnam
01/07 Office demand in fast-growing Vietnam a boon to developers
28/06 VNREA: Housing prices up in May
 
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