Wednesday, November 13, 2019 6:25:14 AM - Markets open
VN-INDEX 1,018.33 +1.58/+0.16%
HNX-INDEX 106.96 +0.20/+0.19%
UPCOM-INDEX 56.80 +0.08/+0.15%
NLG: Nam Long corporates with Japanese Nishi Nippon Railroad in $306.5 million project
http://www.vir.com.vn/ - 7/17/2018 10:00:19 AM
 (0 ratings. You must sign in to rate.)
According to the agreement, Nam Long, Japanese investors - Nishi Nippon Railroad, TBS Group and Tan Hiep Investment Co Ltd will contribute to the total investment capital of VND6.9 trillion ($306.5 million) to implement phase 1 of Waterpoint Township with the estimated stake holdings of 50 per cent, 35 per cent, 10 per cent and 5 per cent respectively.
 
This project will secure the sustainable development of Nam Long in the next 5-10 years.
 
According to Steven Chu Chee Kwang, general director of Nam Long, this was one of the most significant milestones of the corporation, proving internal strength, the ability to develop the real estate ecosystem, the ability to unlock the land fund and attract investment capital of Nam Long.
 
Kwang said that the preparation for Waterpoint has been carried out for almost 15 years, from land clearance and compensation process, to research, design and planning according to international standards.
 
“The process takes into consideration the sustainability, the solutions for preserving the nature and protecting the local ecological environment, including the whole water surface and 50-metre wide natural vegetation corridor along the bank of the Vam Co Dong River. We strongly believe that Waterpoint will become one of the most desirable urban areas in the southern Vietnam,” he said.
 
Toru Shigemizu, executive officer of Housing Business Division and deputy director of Nishi Nippon Railroad, said that so far, two sides have continuously partnered in five projects.
 
“We strongly believe in Nam Long by the way they make its commitments to us in particular, and our customers in general. This sixth project of 165-hectare Waterpoint continues to be our cooperation in depth and width. Not only sharing the capital contribution, we will be working together to exchange experiences in real estate development, how to manage resident communities to create added value for the real estate market in Vietnam,” Shigemizu said.
 
Waterpoint is located at the front of Provincial Road 830, extended from Duc Hoa town to Saigon - Trung Luong Highway and Highway No.1 and Ben Luc town. This project owns the important traffic knots of roadway, waterway and railway connecting directly Ho Chi Minh City and the Mekong Delta.
 
Cushman & Wakefield, an international real estate consulting firm, has reportedly revalued the property value of the 165-hectare, which is equivalent to 45 per cent of the Waterpoint project (355ha).
 
In phase 1, the Waterpoint development includes a central park of over 20ha, 17ha for university and international school, 3ha for healthcare services, and 2.5ha of accommodation area.
 
By Bich Ngoc
 
Read original article here
Newer News
12/11 FUESSV50: Announcement after exchange trading 11 Nov 2019
12/11 FUESSV50: NAV 11 Nov 2019
12/11 E1VFVN30: NAV 11 Nov 2019
12/11 E1VFVN30: Announcement after exchange trading 11 Nov 2019
12/11 GHC: Notice of record date for Dividend payment in cash
12/11 GHC: Board Resolution
12/11 G36: Result of transactions of Directors, PDMR (Nguyen Phuong Thao)
12/11 CTW: Board resolution
12/11 LPB: Establishment of 02 Transaction Offices of Lien Viet Post Joint Stock Commercial Bank
12/11 KSH: Change in personnel
Older News
11/07 FLC: Vietnamese Government approves establishment of Bamboo Airways
11/07 More listed businesses post profit gains in first half
11/07 TPB: IFC arranges $100m loan for TPBank to promote digital financial services to MSMEs
10/07 BSR changes to joint stock model
06/07 VNM: Vinamilk’s products present in 43 countries
03/07 Masan Consumer inks strategic partnership with South Korean meat producer
02/07 Vietcombank’s pre-tax profit up 52 percent in six months
02/07 HPG: Hoa Phat Dung Quat Steel JSC improves administration capacity
28/06 VCB: Vietcombank to apply Basel II next month
28/06 Banks optimistic about growth rate this year
 
Newsletter Signup
Top Stories
VN-Index slides for second day
Reference exchange rate reverses downward trend on October 23
Prices of Grade A office space rise due to low supply
VN stocks to beat 1,000 points in Q4
Consumer price index to be controlled at low level of 3.3-3.5% in 2019
Market Update
Last updated at 3:10:01 PM
VN-INDEX 1,018.33 +1.58/+0.16%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.