Nam Long group announces the cooperation in phase 1 development of 165-hectare Waterpoint township.

On July 14, 2018, at the Legend Hotel, Ho Chi Minh City, Nam Long Group officially announced the strategic investors joining in phase 1 development of Waterpoint Township in Long An. This is 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.

According to the agreement, Nam Long Group, Japanese investors - Nishi Nippon Railroad, TBS Group and Tan Hiep Investment Co Ltd will contribute to the total investment capital of 6.900 billion VND to implement phase 1 of Waterpoint Township in the estimated proportion of 50%, 35%, 10% and 5% accordingly. This project will secure the sustainable development of Nam Long in the next 5-10 years.

Waterpoint is located at the front of Provincial Road 830, extended from Duc Hoa Town to Sai Gon - Trung Luong Highway and Highway 1 and Ben Luc Town Center. The other three facades are embraced by Vam Co Dong River, forming a symbol of feng shui meaning “Number one”.  This projecti owns the important traffic knots of roadway, waterway and railway connecting directly Ho Chi Minh City and the Mekong Delta.

It only takes 30 to 45 minutes by to travel from Waterpoint to downtown HCMC and about the same amount of time to travel on waterway following Ben Luc River, Cho Dem River to Bach Dang wharf (District 1) and Tan Thuan port (District 7). Besides, in the future, Waterpoint will be only 5 minutes away from the monorail 3A station in Tan Kien (Binh Chanh), where trains to downtown stop by.

Cushman & Wakefield (C&W), an international real estate consulting firm, has reportedly revalued the property value of the 165-hectare, which is equivalent to 45% of the Waterpoint project (355 hectares). Accordingly, a square meter of land in phase 1 is estimated at $65 USD, hence, the total area worths about $ 107 million USD (approximately 2,430 billion VND). Meanwhile, the total area of 355 hectares is accounted for 1,504 billion VND on the balance sheet as of March 31, 1818.

In phase 1, the Waterpoint development includes a central park of over 20 hectares, 17-hectares for university and international school, 3-hectares for healthcare services, 2.5-hectares community living area …

Mr. Steven Chu Chee Kwang, General Director of Nam Long and also a real estate development specialist with more than 30 years of experience in developing large scale township in Malaysia, said: “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-meter 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 South of Vietnam.”

At the event, Deputy Consulate General of Japan in Ho Chi Minh City, Mr.Hosoya Kazunori said: "This year has a special meaning as we celebrate the 45th anniversary of Japan-Vietnam diplomatic relations. The economic and cultural ties between the two countries are believed to grow stronger and deeper. We are very happy that last April, Nam Long and two Japanese investors signed up to jointly develop the 8.5-hectare Akari City project. And just 3 months later, the joy was doubled as Nishi Nippon Railroad continued partner with Vietnamese investors in phase 1 development of 165-hectare Waterpoint. I hope Waterpoint not only represents the partnership between companies, but more importantly, a symbol of the friendship between Japan and Vietnam."

Mr. Toru Shigemizu - Executive officer Housing Business division Vice Division Director -Nishi Nippon Railroad, the representative of development partners in phase 1 of the project said: "So far, Nam Long and we have continuously partnered in 5 projects. 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 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.”

Waterpoint will be officially introduced in Q1/2019.

Source:  Nam Long Group