Nam Long Group invests VND 2.3 trillion to expand 170 hectares its land fund

 HCM CITY — Nam Long Investment Corporation on January 28 announced the acquisition of a 70 per cent stake in the Dong Nai Waterfront City Limited Company from Portsville Pte. Ltd., a subsidiary of Singapore’s Keppel Corporation.

Dong Nai Waterfront City has been licensed to develop a township of the same name in Dong Nai  Province, and the VND 2.3 trillion (US$99.13 million) acquisition deal will see Nam Long develop a 170ha plot of land in the project.

The 192 hectare Dong Nai Waterfront City is located in Long Hung Commune in Bien Hoa city, adjacent to the Dong Nai River and separated from the VinCity project in HCM City’s District 9 by a river.

This is the central area of the southern key economic region and has the most dynamic and developed economy and infrastructure in the Dong Nai Province.


From the project it will be easy to access inter-regional arterial roads such as the National Road 51, National Highway 1A, Ha Noi Highway, My Phuoc – Tan Van – Nhon Trach Avenue, HCM City – Long Thanh – Giau Day Expressway, the future Long Thành international airport and metro route No. 1 (Ben Thanh – Suoi Tien – Bien Hoa), and others.

This area is also home to a number of large industrial parks such as Bien Hoa 1 and 2, Amata, Long Binh, Tam Phuoc, and Long Thanh, where tens of thousands of experts and workers work and live.

Besides, the township is also located in close proximity to the Son Tien eco-tourism area, Long Thanh golf course, Shing Mark international hospital, and the Long Thanh and Bien Hoa city administrative centres and offers easy access to the Viet Nam National University, Suoi Tiên tourist area, Cancer Hospital 2, the new Mien Dong Bus Station, and the Saigon Hi-Tech Park of HCM City, providing added convenience to future residents. 

Importantly, the Dong Nai Waterfront City is located in the centre of the area the province plans to turn into an eco-urban area with trading and services along the Dong Nai River. Many large projects are planned here, including Long Hưng urban area and Aqua City. 

Thus, in future, it will be a bustling urban complex located between major economic hubs of the south such as HCM City, Bien Hoa city, Binh Duong New City and Vung Tau city.

A Nam Long spokesperson said the Dong Nai Waterfront City project has received the decision on land allocation, approval for its 1/500 plan and the land use rights certificate for more than 170 hectares and paid the land use fees. The project is expected to be built in 2019 - 25 at a cost of VND 9.2 trillion ($393.5 million). When finished, the township will have more than 4,000 villas and 3,000 apartments and a range of commercial facilities.

In addition to buying the stake in the Dong Nai Waterfront City, Nam Long also announced an investment of more than VND1.228 trillion ($52.9 million) in November last year to establish the Paragon Dai Phuoc One Member Limited Liability Company to develop another property project in Nhon Trach District in Dong Nai .

Nam Long, with more than 26 years of experience in property development, is simultaneously building three townships -- the 26ha Mizuki Park and the 8.5ha Akari City in HCM City and the 165ha SouthGate, which is the first phase of the 355ha Waterpoint Township in Long An Province – together with two leading Japanese property groups, Hankyu Realty and Nishi Nippon Railroad, and a number of domestic businesses.

On January 2 Nam Long reported last year’s results. It achieved VND 760 billion in post-tax profit, exceeding the target by 23 per cent and an increase of 42 per cent over 2017. Its earnings per share (EPS) rose to VND 3,509.

Source: Nam Long Group