Nam Long announces strategic partnership with TBS Land

December 11, 2021, Nam Long Group (HOSE: NLG) officially signed a strategic partnership agreement with TBS Land, affirming the long-term companionship, "going further together" of the two sustainable corporations in the Vietnamese business community.

The cooperation of the two companies in the real estate industry which share the vision about sustainable and for community development, and having similarities such as large land fund and strong planning capability development, promises to create high-value projects and products, contributing to the overall growth of the domestic economy. 

Nam Long Group’s Chairman, Nguyen Xuan Quang and TBS Land’s Chairman, Nguyen Duc Thuan, signed the Strategic Partnership Agreement. 

From 2017 till now, Nam Long and TBS have cooperated on various scales with a total investment of VND 2000 billion. Specifically, Nam Long acquired the Flora Novia project from TBS Land; TBS Land invested VND 760 billion in Nam Long’s 16-ha Southgate (Waterpoint phase 1) in Long An and 45-ha Paragon Dai Phuoc in Dong Nai. In addition, TBS Land spent another VND 760 billion to acquire 7% of Nam Long. The King of shoes, Nguyen Duc Thuan, also joined Nam Long’s management board in 2021-2026. 

“From co-developing key projects to officially investing in Nam Long to accompany us in planning and shaping our vision, we admit that our partnership has been brought to a new level. Nam Long is deeply grateful for the trust and will continue to try our best alongside TBS Land in expanding and sharing great results”, said Nguyen Xuan Quang, Chairman of Nam Long Group.  

Nguyen Duc Thuan , Chairman of TBS Land, emphasized that the partnership between Nam Long and TBS Land is not solely about financial, but above all, proves the solidarity of Vietnamese businesses. “Together, we share experiences in real estate development, create high-value products for the market and build a sense of pride in the Vietnamese business community.”

Source: Nam Long Group (Hose: NLG)