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Japanese spot rising star of Vietnams realty market

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Saturday, 06/04/2016, 15:03

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Sanyo Homes Corporation, a housing developer from Japan, has recently entered
Vietnams real estate market through a partnership with a member company of Hoa
Binh House Joint Stock Company.
Sanyo Homes also inked an investment partnership agreement with locally-owned

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The projects apartments and offices are expected to be finished and available for

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Tien Phat Real Estate Investment Corporation in Ho Chi Minh City to begin
developing a property project named Ascent Lakeside.

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with Vietnam

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sale in November 2016. Ascent Lakesides quality is guaranteed by the prestigious

Vietnamese and Japanese brands involved in the project.

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According to Yasusuke Tanaka, president of Sanyo Homes, Ho Chi Minh Citys

housing market has great potential. We see the co-operation with Tien Phat as our
first step on the road to developing a broader strategy in Vietnam, Tanaka said.
Prior to Sanyos entrance into Vietnams real estate market, many other Japanese
investors made similar moves here. Analysts have noted that more and more
Japanese investors are looking at the real estate market here, despite recent
difficulties due to low demand.
Last October, a shareholders meeting at locally-owned Nam Bay Bay approved
regulations to fulfill the commitments it made with its Japanese partner, Creed

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Group. Earlier, Nam Bay Bay announced a programme with the Creed Group under
which both would pour investment capital into Nam Bay Bays projects and share
profits.
Creed Group has committed to injecting VND600 billion (US$27.27 million) into the
projects by purchasing convertible bonds issued by Nam Bay Bay.
Besides the City Gate Towers, Creed Group has undertaken two other projects
NBB Garden II in Ho Chi Minh Citys Binh Chanh district, and NBB Garden III in
district 8.
The Japanese investor is contributing 50% of the total investment capital into every
project. The NBB Garden III is projected to have an investment capital of VND3.8
trillion (US$172.72 million).
Two months previous to the news about Creed Groups investment deal in Nam Bay
Bay, Nikkei Inc. reported that Daibiru, a Japanese real estate group, wrapped up a
deal to buy a CornerStone Building in Hanoi for US$61 million.
This was not the first investment deal of Daibirus in Vietnam. In 2012, Daibiru bought
a large amount of shares in a company that owns Saigon Tower at No29 of Le Duan
Street in Ho Chi Minh Citys district 1.
The seller was an investment fund under the Chinese Chiaphua Group. The value of
the deal remains a secret.
Experts from Cushman & Wakefield Vietnam noted that the finance investors
biggest interest was in operational assets with a stable cash flow.
Toshihiko Muneyoshi, managing director of Creed Group, said that the demand for
housing in Vietnam was high due to a young population and rising incomes.
The Vietnamese market now is similar to Japans over 30 years ago and the middle
segment will grow stronger. Therefore, the firm plans to focus on this segment and is

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seeking more partnerships in Vietnam, Muneyoshi said.

Recently Hankyu Realty Co. Ltd and Nishi-Nippon Railroad Co. Ltd have also spent
hundreds of billions of dong on a 50-per cent stake in the Fuji Residence project in
Ho Chi Minh Citys district 9.
The project, initiated by Nam Long Investment Corporation, is the second that the
three companies have collaborated on. The first project, Flora Anh Dao, also in
district 9, has sold 85% of its apartments.
Toshihiro Matsuo, general manager of the Housing Business Department of NishiNippon Railroad, said that they were interested in affordable housing and saw this
segments vast potential in Vietnam.
Many other investors had also recently visited Vietnam to research potential
investment opportunities. Among them were Oyasogo Co and TNK Travel.
VIR

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TAG : Sanyo Homes Corporation, Hoa Binh House, Tien Phat Real Estate, Ascent Lakeside, Yasusuke Tanaka,
Creed Group, Nikkei, Cushman & Wakefield

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THE VOICE OF VIETNAM ONLINE (VOV.VN)

58 QUAN SU STREET - HA NOI - VIET NAM
Editor-in-chief: PHAM MANH HUNG
Deputy Editor-in-chief: NGUYEN THUY HOA, NGUYEN TUYET YEN

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