Nam Long Group (HOSE: NLG) topped out phase 1 of The Flora Mizuki project

April 2019, Flora Mizuki condominium project phase 1 – a component project of Mizuki Nguyen Son township (37 hectare, Binh Chanh district) co-developed by Nam Long and the two Japanese strategic partners has officially been topped out. 

Officially launched in December 2017, the canal condominium project Flora Mizuki helped Nam Long break the sales record with 1,400 units sold in Phase 1 after a short time of announcement, contributing about VND 2,500 billion to the sales revenue. Flora Mizuki phase 1 is a composite of 5 blocks with 20 stories each (including 1 basement and 19 stories) which is expected for hand over at the end of 2019.

Flora Mizuki project is part of the Mizuki Park Township, co-developed by Nam Long and two Japanese partners: Hankyu Hanshin and Nishitetsu Group, and designed based on the standards of Flora product line (Affordable Condominium). The project site is located about 10 minutes away from Phu My Hung, within the area where many infrastructural projects are built such as metro line No. 4A, metro 5, monorail No. 2, Thu Thiem 4 bridge, Kenh Te 2 bridge ... Leading companies in real estate and construction sectors such as Conybeare Morrison CM + (Australia - planning design), CPG (Singapore - landscape design), Aurecon (Australia - infrastructure design consultant) , Yellowstone Consultants (Australia - infrastructure design consultant), NQH (Vietnam – interior design consultant) and Hoa Binh Construction Group (Vietnam - general contractor) have taken part in this project.

Compared to other products within the same market segment, Flora Mizuki has a completely different two-level utility system: inner complex and township. At a township level, Flora Mizuki is located inside Mizuki Township which has low construction density of only 29%, surrounded by the 60-meter wide Ngang canal and 20-meter wide Lao canal, so the urban design is finely planned. The majority area is reserved for greenery and different utilities such as 75,000m2 of trees, 17,000m2 of canal, landscape lake, more than 40,000m2 of school land, 15,000m2 of commercial and service area , 7,500m2 of medical facilities, 5,000m2 of administrative and cultural works, sports centers, 2.5km of walking paths, 1.4km of cycling paths, 8 different theme parks for families and children, bonsai, meditation, events, riverside and sports ... serving all the residents' needs of leisure, entertainment, studying and trading while staying in the township. At a complex level, Flora Mizuki residents are entitled to exclusive facilities in private area such as 24-hour security, adult and children swimming pools, outdoor and indoor playgrounds for children, BBQ area, sports area, gym, canal, canal park, entertainment room, etc. Especially, all the apartments have broad view of the river sides or the 17,000m2 artificial canal.

In the period of 2019-2021, Nam Long set the objectives to increase number of products by four time and delivery by three times between 2015 and 2018, equivalent to almost 26,000 new products and more than 16,000 deliveries of EHome, Flora, Valora products in township projects. Projected after-tax profit is VND 956 billion, 26% higher compared to 2018, and will be up to VND 1,100 billion by 2020. Mizuki - Nguyen Son project, in particular, will provide to the market with a total of 5,200 Flora Mizuki apartments, 600 shophouses, townhouses, Valora villas and luxury villas. At the event to announce the township development and market expansion strategy on March 28, Nam Long informed that Mizuki - Nguyen Son phase 2 was expected to open for sale in the fourth quarter of 2019.


(Source: Nam Long Group (Hose: NLG))