Nam Long (HOSE:NLG) announces the cooperation for development of project Nam Long Dai Phuoc 45.5 hecta

Ho Chi Minh City, September 2021, Nam Long Group has officially announced the strategic Japanese investor Nishi Nippon Railroad will jointly develop Nam Long Dai Phuoc township project, Nhon Trach, Dong Nai. This is the eighth time, the investor with more than 100 years of Japanese experience in project development cooperate with Nam Long, affirms their trust in Nam Long for the development of affordable projects to high-end projects and integrated township.

As agreed, Nam Long Group will transfer a part of its capital contribution at Paragon Dai Phuoc One Member Limited Company Liability to Nishi Nippon Railroad for the joint development of the Nam Long – Dai Phuoc urban project with the total land area of 45 hectares. This is a key project to ensure the development of Nam Long in the coming years.

The Nam Long Dai Phuoc urban project is located on the Dai Phuoc island, known as the “pearl of the East of Saigon” surrounded by the cooling Saigon river all year round. With a prime location adjacent to District 2 and District 9 of Hochiminh city, Paragon Dai Phuoc is easily accessible to important traffic routes such as National Highway 51, Ho Chi Minh City – Long Thanh – Dau Giay Expressway, Ben Luc – Long Thanh Expressway and Long Thanh airport in the future. Especially when Cat Lai bridge and national ring road 3 is completed, the project will be easily connected to the central business District 1 within 20 – 25 minutes.

Additionally, Nam Long Dai Phuoc owns a beautiful landscape when it is located along 1,200 m of Cai River and integrates the outstanding facilities system due to its proximity to the central park of the island’s CBD, Teakwang Jeongsan golf course, not to mention the internal facilities serving the residents such as riverside landscape parks, community clubs, marinas, educational and medical facilities, …

Currently, 100% of Nam Long Dai Phuoc project has completed land compensation for site clearance, paid land use fee, land-filled to 2 metre level, received approval for the master plan 1/500 and issued land use right certificate. According to the plan, the project will be developed by Nam Long and Nishi Nippon Railroad with mainly high-class semi-detached houses and villas. In a similar location, villa products in other projects are selling at around 6.5 billion VND/ unit – 60 billion VND/unit.

Mr. Kouichi Hayashida- representative of Nishi Nippon Railroad shared: “Adjacent to the eastern area of Ho Chi Minh City, Dong Nai province has a population of about 3 million people and a very strong economic development speed, at the same time this is the investment choice of many experienced Japanese companies. The housing development is happening rapidly recently, along with the development of transport and social infrastructure, making us very confident in the future development of the real estate industry in Dong Nai in general and Nam Long-Dai Phuoc project in particular”

Mr. Tran Xuan Ngoc – Group CEO of Nam Long Investment Corporation said: "A month ago, Nishi Nippon Railroad announced to invest with us in the "affordable housing" product line “Ehome” with the price of less than 1 billion VND. And today, they again join Nam Long in a high-class urban project. This shows the Japanese partner's comprehensive trust in our Nam Long products. I hope, like what project Waterpoint 165 hectares – a cooperation between us has done in the West, Nam Long Dai Phuoc will soon become one of the most livable urban areas in the East of the City”

It is known that Nam Long Dai Phuoc will be officially introduced to the market in 2022.

Source: Nam Long Group (Hose: NLG)