Japanese construction giant to spend USD1bn on 50 projects in Vietnam

Tokyo-based contractor Kajima will team up with Indochina Land. Vietnam’s property market continues to ensnare Japanese firms. The latest: a partnership between Kajima and Hanoi-based developer Indochina Capital, which was unveiled on September 16, will officially begin in October. The resulting venture, ICC-Kajima, is expected to plough USD1 billion into Vietnam over 10 years, with 50 potential projects in the pipeline, including serviced apartments, hotels, and office buildings. Each project will have an outlay of USD19.5 million to USD97.7 million — four are reportedly set to be launched within 15 months, with a capital totalling USD100 million.

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