Japan’s Tokyu, property developer Danh Khoi strike partnership
Leading Japanese urban developer Tokyu has launched a strategic partnership with Vietnamese firm Danh Khoi to jointly develop projects in Vietnam, starting with a high rise in Vung Tau town.
Under an agreement signed Wednesday in Ho Chi Minh City, the two firms will cooperate comprehensively in researching and developing real estate projects in Vietnam. They will also share experiences in project development, management, and operations.
Tokyu started considering urban development in Vietnam in 2011 after learning about the plans of Binh Duong province, which borders HCMC, to relocate its administration hub.
In 2012, the Japanese giant set up a joint venture named Becamex Tokyu with Becamex, a major Vietnamese real estate developer, to take part in a mammoth project for the development of the provincial government’s new home - Binh Duong New City.
At present, Becamex Tokyu is still developing key urban facilities including high-rise condominiums, residential areas, and commercial facilities in the Binh Duong New City.
Tokyu and Danh Khoi are working together on design ideas and development of “The Meraki” high-rise, part of the Aria Vung Tau resort complex. Danh Khoi acquired Aria from Cotec Vietnam in 2020.
Envisaged as an iconic property project in the beach town of Vung Tau, about two hours’ drive southeast of HCMC, “The Meraki” would provide 525 apartments to the real estate market in the resort town.
The roughly 400 meters of seashore that Aria accesses is seen as a major advantage for the $42.7 million beachfront project.
An artist's impression of The Meraki project in Vung Tau town, southern Vietnam. Photo courtesy of Aria Vung Tau resort.
Danh Khoi vice CEO Nguyen Huu Quang said the building would have an area of 3,000 square meters, with 29 floors, two basements and a rooftop.
Oh Dong Kun, executive director of Tokyu in Vietnam, said the partnership with Danh Khoi would be a new driving force for the Japanese firm to expand its operations in the country with new projects. Vietnam is considered to have the most vibrant real estate market in Southeast Asia.
Watanabe Nobuhiro, Japanese Consul General in HCMC, called the agreement a win-win deal that lays the foundation for joint work by both firms.
- Related News
- Read More
China's Exquisite Power launches $20 mln battery factory in Vietnam
China-invested Vietnam Exquisite Power Technology Company Limited launched its $20-million factory in Vietnam’s northern coastal city of Hai Phong on Friday.
Industries - Sat, January 18, 2025 | 10:46 pm GMT+7
Central Vietnam city licenses 3 FDI projects worth $190 mln
Vietnam’s central coastal city of Danang has granted investment registration certificates to four foreign-invested projects totaling $190 million.
Industries - Sat, January 18, 2025 | 10:35 pm GMT+7
Thailand to launch new carbon credits market
Thailand aims to introduce a new carbon credits market this year as the Southeast Asian nation seeks to address weak demand and low prices.
Southeast Asia - Sat, January 18, 2025 | 7:57 pm GMT+7
Malaysia defines two priorities to ensure food security
Malaysia's Ministry of Agriculture and Food Security (KPKM) has set two major priorities for this year - reforming the national rice and paddy industry, and increasing productivity in the ruminant sector, particularly beef and buffalo meat production.
Southeast Asia - Sat, January 18, 2025 | 7:52 pm GMT+7
Foxconn doubles investment in central Vietnam province to $200 mln
Fu Wing Interconnect Technology (Nghe An) Co. Ltd., a subsidiary of Foxconn, has doubled its investment in the central Vietnam province of Nghe An to $200 million.
Industries - Sat, January 18, 2025 | 4:07 pm GMT+7
WB revises up Vietnam’s 2025 GDP growth forecast to 6.6%
Vietnam’s GDP growth can reach 6.6% in 2025, the World Bank said in the newly-released January edition of its “Global Economic Prospects” report.
Economy - Sat, January 18, 2025 | 10:36 am GMT+7
Poland’s leading pharma group Adamed keen to expand in Vietnam: exec
Adamed Pharma, a leading pharmaceutical and biotechnology group in Poland, plans to expand its investment in Vietnam, said Malgorzata Adamkiewicz, president of the company’s supervisory board.
Industries - Sat, January 18, 2025 | 10:16 am GMT+7
PM calls on Polish companies to expand investments in Vietnam
Vietnamese Prime Minister Pham Minh Chinh has asked Polish companies to increase their investments in Vietnam, capitalizing on the EU-Vietnam Free Trade Agreement (EVFTA).
Industries - Sat, January 18, 2025 | 10:07 am GMT+7
Ethics, ambition critical for startup founders to succeed: Go Global Holdings exec
The global investment landscape offers abundant opportunities for Vietnamese brands to expand internationally, but startups must prioritize self-improvement and readiness, says Nguyen Phi Van, chairwoman of Go Global Holdings, a company specializing in franchising.
Companies - Sat, January 18, 2025 | 9:00 am GMT+7
Scandal-hit Tan Hoang Minh Group eyes $592 mln ecotourism project in central Vietnam
Real estate developer Tan Hoang Minh Group has proposed the central province of Quang Binh allow it to study the building of a VND15 trillion ($592 million) ecotourism area in Le Thu district.
Real Estate - Sat, January 18, 2025 | 8:00 am GMT+7
Germany energy firm wpd plans $180 mln wind power project in central Vietnam
Germany’s energy company wpd plans to invest VND4,600 billion ($181.62 million) in building a 143 MW wind power plant in Vietnam’s central coastal province of Binh Dinh.
Energy - Fri, January 17, 2025 | 10:21 pm GMT+7
BRICS – new key export market of Indonesia
Indonesia’s non-oil and gas exports to the five major BRICS nations reached $84.37 billion in 2024, accounting for nearly 34% of the country’s total non-oil and gas export value, according to the country’s Central Statistics Agency (BPS).
Southeast Asia - Fri, January 17, 2025 | 9:54 pm GMT+7
Vietnam refinery operator BSR hits $2.6 bln valuation in bourse debut
Binh Son Refining and Petrochemical JSC, the operator of Vietnam’s first oil refinery Dung Quat, officially listed over 3.1 billion BSR shares on the Ho Chi Minh Stock Exchange (HoSE) on Friday, marking a rare "blockbuster" debut on the major bourse in recent years.
Companies - Fri, January 17, 2025 | 6:59 pm GMT+7
Two remaining weak Vietnamese banks transferred to VPBank, HDBank
The State Bank of Vietnam, the country's central bank, on Friday announced the mandatory transfers of two "weak" private banks under its special control, GPBank and DongA Bank, to VPBank and HDBank respectively.
Banking - Fri, January 17, 2025 | 4:32 pm GMT+7
DPPA not applied to non-manufacturing consumers, Vietnam ministry insists
Vietnam’s Ministry of Industry and Trade does not plan to extend the direct power purchase agreement (DPPA) mechanism to non-manufacturing consumers using the national grid.
Energy - Fri, January 17, 2025 | 3:50 pm GMT+7
Two foreign giants eye luxury marina, resort projects in central Vietnam
Swiss investment fund Finance Suisse and the world’s leading superyacht builder Palmer Johnson are looking for opportunities to invest in a super-luxury marina and a resort in the south-central Vietnam province of Binh Dinh.
Industries - Fri, January 17, 2025 | 3:18 pm GMT+7
