Japanese investors partner up to develop $352-million Mizuki Park
Real estate developer Nam Long has joined with Japan’s Nishi Nippon Railroad and Hankyu Realty to develop a new project named Mizuki Park with the investment capital of $325 million in HCM City.
According to the signed agreement, the two Japanese strategic partners and Nam Long will have equal stakes in this project (50-50) to implement Mizuki Park.
Mizuki park will be developed on a 26-hectare land area near Phu My Hung Township in Ho Chi Minh City, from 2017 to 2024.
According to Steven Chu, CEO of Nam Long Investment Corporation, when finished, Mizuki Park will include more than 4,670 affordable condominium units under the brand name of Flora and 170 land plots, townhouses, and villas under the Valora brand. The project will be equipped with a wide range of quality lifestyle facilities, such as a 2-kilometre riverside road, the Central Canal and lake, functional areas for sports, restaurants, a medical and education area, the community garden, and children’s playground.
Chu said that after Flora Sakura, Fuji Residence, and Kikyo Residence, the collaboration between Hankyu Realty, Nishi Nippon Railroad, and Nam Long has progressed to a new era.
“After our joint venture in apartment and condominium building, Mizuki Park ups the ante with the development of a whole new township, expressing the confidence of Japanese investors in Nam Long. We highly appreciate this and will put in maximum effort to execute this prestigious partnership,” Chu said.
Sumio Kuratomi, representative director president and CEO of Nishi Nippon Railroad, said that this was the fourth cooperation project owned by the three corporations.
“Nam Long has a great deal of experience and a respectable track record, therefore Nishi Nippon Railroad is honoured to develop residences with such a brilliant business partner,” said Kuratomi.
According to Ryuichi Morotomi, president and CEO of Hankyu Realty, the company has a history over 100 years of operations, with a lot of housing and township projects.
Located near Nguyen Van Linh Avenue, Mizuki Park is 10 minutes away from Phu My Hung Township. It takes 20 to 40 minutes to District 1, District 5, and District 8.
With the fast development of key infrastructure projects around the site, such as the Nguyen Huu Tho-Nguyen Van Linh intersection, Thu Thiem 4 bridge, Nguyen Khoai Bridge, Metro Line No.4, and the Ben Luc-Long Thanh Highway, Mizuki Park will offer residents a golden location for living, working, and relaxation.
Fully embracing the aquatic advantages of the surrounding river as well as ensuring temperate weather through its proximity to the central lake.