Japanese groups may invest $2 billion into Vietnam real estate
It is rumored that about ten Japanese firms will invest up to US$2 billion in the real estate market in Vietnam, particularly HCM City and Hanoi, in the coming time. Than Thanh Vu, President of Sao Khue, said the information is accurate because recently his company had organized a trip to Japan for a group of Vietnamese estate firms to promote investment in this country. Vu said during meetings with Vietnamese firms, Japanese investors were interested in high-end hotels, commercial centers, office buildings, and luxury apartment projects in big cities like HCM City, Ha Noi. In particular, Sumitomo Group planned to build an office tower with investment of about $100 million, and Toshin Group wanted to develop a $200 million estate project. Le Hoang Chau, chairman of HCM City Real Estate Association, said this was a good sign for new developments in the estate market of Vietnam. Chau said the current time is favorable for calling for investment from Japan. The two countries have become comprehensive strategic partners; they have many things in common in culture, geography.
