Nam Long: the journey from “affordable” investor to township ecosystem developer

During 26 years in Vietnam real estate market, Nam Long Group is quietly contributing to the industry many housing projects that high value in architectural design and quality. 

Housing product that is affordable

Aiming for “slow but sure”, all Nam Long product lines, from low to high priced have high liquidity rate. Nam Long’s townships are well known among home buyers for affordable price, consistent quality and no devaluation during market fluctuations. All of this derived from the business philosophy: “affordable housing for real accomodation need”.

Affordable is a term used to describe housing products designed to fit the customer's purchasing power.

Customers are able to buy a better quality house than what they normally get with their investment, while the investment amount is well suited to their financial capacity. These are affordable houses that allow home buyers can enjoy the highest living standard without being buried in a burden of debt. That’s why the "affordable housing" has been major business of many real estate developers. It is the main and important product as buying this type of product is the biggest demand of people from the low to middle class in the housing demand pyramid.

In Vietnam, the demand is very high, but businesses only meet 30% of the demand. In addition to the rapid pace of urbanization, an increasing number of workers is shifting to the cities, most of which have not yet been owned. According to Nam Long Group's management, a "pocket money" product in Vietnam is priced at $ 25,000 - $ 75,000. Currently, this company is recognized as the leading company in Vietnam in the development of "affordable" product lines, accounting for about 15% market share of this type in the city. HCM.
Nam Long townships are built with diversified products from medium to high end, especially Nam Long’s three popular “affordable” product lines: Ehome, Flora and Valora. Wiith price starting from 1 billion VND/ apartment; VND 1.5 billion/ condominium, VND 2 billion/ townhouse or VND 10 billion / single villa, homebuyers are opened to choices of reasonable housing product and good living environment for themselves and their family. Nam Long’s concept of “affordable” doesn’t equal to “cheap”, it is more about customers are able to spend a reasonable amount to enjoy township facilities, a lot more “bargaining” compared to other projects of the same market segment.

"Meeting the purchasing power means meeting the expectation of the community and the high standards in township quality, which are key to business sustainable growth." - said Mr. Nguyen Xuan Quang – Chairman of Nam Long group.

In fact, Nam Long is one of the few real estate developers in Vietnam that can develop real estate from start to end, from pristine land to modern township with good service system. In order to implement this real estate value chain, Nam Long Group has set up a network of 15 member companies and 1 subsidiary with separate functions from land buying to design, construction, services and sales ... to save on agency costs. Looking to build an end-product that could add value for customers is Nam Long’s project development objective, which is an important factor that holds customers and makes them satisfied. 

Building a real estate ecosytem

It is not coincident that when talking about Nam Long's projects, customers often whisper about the trustfulness and peace of mind. This is due to the fact that despite the development of any size project, besides paying attention to the quality of construction, the investor is always interested in creating habitat for residents.
In fact, Nam Long has been invested in utilities from the beginning, at projects developed 10 years ago like Nam Long-Tan Thuan Dong, Nam Long-Hung Thanh-Can Tho, Nam Long-Phuoc Long. Nam Long even took a step further to show their vision and enthusiasm in creating high living standard in latter big projects. 

"A real estate developer is not simply building a house for sale but needing a broader mind in planning and building urban areas and communities."

In the last two years, Nam Long has announced the planning of three new townships, which are under planning development of international urban planners from Australia and Singapore such as CM +, CPG, SCI ... to build the best products not only for residents but also for the overall architecture of the city.

Akari – the city lights
Akari City is located at the center of Binh Tan and developed in the concept of "multi-purpose residential city" with 13,000sq.m of shopping street, food street, education street, car street ...; functional area, educational area, healthcare center..., including separate convenient facilities within each condominium such as community club, swimming pool, children's playground, sport area, coffee terrace ...
Mizuki Park township

Totally different with the concept of Akari City, the 26-hectare Mizuki Park is planned to be a peaceful and tranquil Japanese style township, wit hthe focus on water features and green corridors. The building density of the whole area is 29% while the majority area occupied by green, natural canals, utility works ..., creating connecting between the green spaces. "Open eyes to the nature" is what the residents living here will enjoy every day.

Waterpoint township

Arriving at the Waterpoint, home buyers will appreciate the size and quality of this megacity. Built on an area of 165 ha, Waterpoint has many impressive components even in the first phase of development: Central park of over 20ha; 2.5ha community living area; 17ha for universities and international schools; 8ha commercial and service area, 3ha healthcare... The residents will enjoy full high-end facilities with shopping and service streets, food street, education street or modern working space without having to travel outside. 

With all the big projects planned to complete this year, 2018 is expected to be a booming year of township development with more 5000 products/ project. Nam Long’s townships not only include housing products but also real estsate ecosystem, for example commercial real estate, school, hospital, service-entertainment, complex center, office buildings… creating high quality residential community. 

The differences in Nam Long’s projects

Stepping into Nam Long’s township, there are many “strange” things. Construction density is not high, preserving the majority of space for outdoor activities, i.e. sports, community clubs, trees, water… All the houses are delicately designed and built to be effective to every cm, with no excess space. This philosophy is clearly reflected in Nam Long’s three unique product lines.

Green space

Valora villas are more compact compared to their counterparts in the market – with a size limit of approx. 150m2. The Valora villa is highly rated by all customers the single villa has 2 car parking spaces, its own green space with a front and back garden...Especially the concept behind the living space design is the focus to increase interactions between family members. Living in a compact area, family members are more likely to see each other, thereby encourage the close connection and sharing opportunity. 

Condo is considered a housing model for high-income people. However in Vietnam, Nam Long localized this type of housing when making it available for many homebuyers. Flora is developed as a condo with all the private utilities and isolated living space but has a very “affordable” price. 

A small world, where residents can enjoy their daily life with all the facilities within their residence. Safe, convenient, quality living.
Nam Long's condominiums are drawn like a miniature world, where residents can fully enjoy the daily life within their residence. Safe, convenient, quality living are the top three criteria to evaluate the condo. Carrying a Japanese spirit, the condo gives residents the harmony with nature as a peaceful place to enjoy life.
EHome - the product targeted to middle income customers as most apartments are priced at less than 1 billion VND. This price becomes more attractive when the residents not only own a flat to reside, but they are also able enjoy the full facilities and services of the project such as swimming pool, supermarkets...
Safety, population density are the two important factors of a real estate ecosystem, but it’s strange to see all inclusive factors matching with the principle of “affordable housing”.  "Success" of Nam Long Group seems simple, but one can only see the difficulty and the challenges for a hearted real estate developer as they start doing the same. It is clear that customers can dream of a comfortable place to start a convenient life with Nam Long’s business strategy". From the name attached to “affordable housing”, Nam Long is on its path of becoming a professional real estate developer when it comes to larger projects, bringing more value to customers. With what the company has done in project development, people have the ground to expect a soon-to-be leader in real estate ecosystem development in the Southern market. 

By Cafef.vn