Cushman and Wakefield valuates Nam Long’s 165ha land in Long An at vnd 2,400 billion

Cushman & Wakefield (C & W), a global real estate agent and consultant, has reported a property revaluation for 165-hectare piece of land on the riverside of Vam Co Dong River in Ben Luc District, Long An Province (35km down south from of Ho Chi Minh City) which is about to be put into first phase operation of the Waterpoint project by Nam Long Investment Corporation (NLG).

This is the large-scale township project and also the highlight of from Nam Long’s business strategy in the coming years with thousands of products in many segments such as riverside villas, townhouses, apartments to commercial real estate...
Accordingly, the first phase of Waterpoint accounts for 45% of the total project area (355ha) and the price per meter square is estimated at USD $65, making the total value USD $106.8 million (approx.2,430 billions dong). Meanwhile, the total area of 355ha mentioned above is recorded in the book at the initial value of VND1,504 billion.
Based on the referencing system of large-scale projects with hundreds hectares or more, the report also compares the land valuation of Waterpoint Long An with Tan Binh Industrial Zone (USD$17 / m2), Phu Huu Phu Dong Industrial Zone, Dong Nai (USD $13 / m2), Duc Hoa III Industrial Park, Long An (USD $45 / m2) ...
C & W found that Waterpoint Long An had advantages such as clean land, complete payment of land usage, 50-year ownership, location within a 15-km radius of many small residential areas such as Moon Villas, Long Hoi, Green City… The project has convenient traffic, i.e. Trung Luong highway, about 35km from Ho Chi Minh city center and waterway on Vam Co Dong river. In addition, bus no.85 traveling from Ho Chi Minh City to the area, stops in front of the project and departs every 15 mins.
After reviewing the available data, C & W believes that the villa / townhouse will achieve the highest value in this project and set the benchmark for planning and design. Therefore, the market price of the villas and townhouses can reach USD $371 / m2.
Phase 1 of Waterfront Long An project is expected to start in June 2018 and complete in 2022. Nam Long representative said the total investment is about VND6,900 billion and the company is able to fully fund this project after the success of existing projects, as well as the expanding strategy for business and cooperation in the near future,. Nam Long also expects total revenue of VND 10,700 billion for Phase 1 of Waterpoint.