Nam Long inks agreement with Keppel Land to develop commercial land at Waterpoint

Nam Long (HOSE: NLG) signed on July 5 an agreement with Keppel Land Mall Management Vietnam, a subsidiary of Keppel Land, one of Asia's premier property companies, for strategic consulting for developing commercial land at its Waterpoint township and diversifying its utility eco-system to add value to the project.

With more than 1,000 customers who are interested in products at the 355ha Waterpoint township witnessing the signing ceremony, Nam Long underlined its determination to develop a wide range of international standard facilities at Waterpoint to make it not just a housing project but a satellite city for the population of HCM City to shift to.

Nguyễn Minh Quang, director of sales, marketing and commercial property, Nam Long Investment Corporation, said, “It will not only consist of housing products but also a property eco-system where commercial property, schools, hospitals, services - entertainment, complexes and offices will be developed simultaneously, creating a quality settlement community featuring a unique lifestyle.  “With its experience in building and operating successfully large commercial centres such as Takashimaya, SaiGon Center and Estella Place, Keppel Land will offer great support to Nam Long in developing trade - services areas at Waterpoint.” 

Before the Keppel Land deal, Nam Long had signed agreements with several other international corporations to develop the Waterpoint project, including Nishi Nippon Railroad (Japan) as its co-investor, Lascal (Japan), Conybeare Morrison CM + and Royal Haskoning DHV (Australia), Aurecon (Netherlands), and Swan & Maclaren (Singapore) for its infrastructure development and design.  The methodical investment in first facilities such as the three-hectare Country Club (sports and entertainment club for the community at the weekends), the 2.75ha Service Hub, a trade, services and entertainment complex linked with a bus transfer station, a village with model houses developed under the Valora product line -- such as garden houses, shophouses and detached and semi-detached villas -- infrastructure works, and landscaping has enabled Waterpoint to become a bright spot in the western property market in recent times.

All townhouses, villas and shophouses in the project’s phase 1 have been sold out, with more than 500 units to be handed over to customers at the end of this year. The second sales event with 300 units on offer organised recently attracted some 1,000 prospective customers.  A number of new product lines such as the Grand Villa with an area of 300-600sq.m and costing around VNĐ10 billion (US$431,539), villas with an area of 600-1,000sq.m and costing VNĐ16 billion ($690,016) will soon be launched.  

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