- Green Growth
- Your Consultant
According to the agreement, Anabuki Housing Service, Nam Long Group, and Okamura will contribute at 65, 31, and 4 per cent to set up a joint venture to deliver the first Japanese-quality real estate management services package in Vietnam, targeting residential and commercial properties.
The partnership with Anabuki Housing Service has extended the porfolio of foreign partners and shareholders, a strength of Nam Long Group in its 25 years of establishment
Photo: Le Toan
Nam Long’s partners are strong Japanese corporations with hundreds years of experience in total in real estate development and management. These partners have been together with Nam Long offering purchasers new management services for apartments, commercial buildings, equipment repair and installation, 24-hour call centre, apartment rental, and other services to support homebuyers during their residency at Nam Long’s properties.
According to Shingu Akihiro, the representative of Anabuki Housing Service, in Ho Chi Minh City, the management and legal services have not yet been sufficient regardless of the 40,000 apartment units supplied to the market each year.
“This situation also occurred in Japan. There used to be problems arising from the insufficiency in property management, such as the growing slums, hazards, and accidents as well as the fast degradation of apartment buildings. Based on the lesson, Anabuki Housing Service wants to contribute to improve the living environment of Vietnamese residents. In the course of looking for a partner, we found Nam Long a trusted company specialising in affordable housing, a potential market segment having the same concerns about property management. We believe that our partnership with Nam Long will contribute to improving the quality of property management services in Vietnam,” Akihiro said.
Steven Chu—CEO of Nam Long—believes that the partnership with Anabuki Housing Services will help Nam Long strengthen Nam Long’s property system of 15 member companies who undertake each stage of property development, from land development, construction, project management to sales and after sale services. Nam Long continuously innovates each stage of its services for sustainable growth.
Established in 1992 as Nam Long Construction Co., Ltd. with an initial capital sum of VND700 million, Nam Long is one of the early brand names that has survived and flowered through the ups and downs of the Vietnamese real estate industry.
Nam Long’s total assets have reached VND7,800 billion ($346 million). The group owns a land fund of more than 500 hectares and a desirable portfolio of shareholders and partners, such as IFC (Worldbank), Mekong Capital, ASPL, Nam Viet Ltd. (Goldman Sachs), and many others.
Nam Long currently curries great support from strategic foreign shareholders, such as Ibeworth (Keppel Land Group) and PYN (European Investment Fund).
Nam Long also has strong project partnerships with leading companies such as Hankyu Realty and Nishi Nippon Railroad (Japan).
Nam Long has completed eight residential projects, delivering more than 15,000 products of villas, townhouses, and offices for lease and launched three strategic product lines under the brand name of Ehome, Flora, and Valora.
In addition to the popular affordable housing products that account for 15 per cent of the housing market in Ho Chi Minh City, Nam Long also offers high-end projects, such as Nam Phu Villas, Thao Nguyen Saigon Villas, Nam Thong Shophouses, Valora Fuji villas, and Valora Kikyo.
The company is developing and completing large residential areas, such as Hoang Nam (8.5 hectares), Mizuki Park (26ha), Phu Huong (17.5ha), Phuoc Long B (15.9ha), and Waterpoint Long An (355ha). These projects received contributions from international organisations and are expected to be remarkable additions to the global real estate market.
In the next three years, Nam Long expects to launch 17,000 products of EHome, Flora, Valora, and three large-scale residential areas.