Japanese group invests in real estate in HCM City
Japan’s Creed Group, a real estate firm specialising in principal investment and property development, signed a US$200 million contract on July 26 with An Gia Investment and officially becoming a player in Ho Chi Minh City’s property market.
Under the contract, the Creed Group will purchase shares of An Gia and in the company’s housing projects with the aim to provide “Japan quality” houses within the city.
An Gia Investment CEO Nguyen Ba Sang said the contract will offer the company a strong financial source to implement real estate projects.
An Gia plans to build 2,000 superior apartments each year towards having 10,000 units by 2020 with a total investment of US$1 billion.
The company is currently implementing four projects worth nearly VND3 trillion (US$137.4 million) and negotiating the purchase of 10 land lots at the centre of the city.
Founder and Managing Director of Creed Group Toshihiko Muneyoshi said this is just the first step in the bilateral cooperation.
If the Vietnamese property market grows well, the Creed Group will pump additional hundreds of millions of USD into An Gia, he stated.