ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintSite TitleTitle ChevronIcon Twitter
Business

Kajima going into real estate development in Vietnam

TOKYO -- Kajima will begin developing real estate in the burgeoning Vietnamese market, aiming to distinguish itself from other Japanese companies by offering services ranging from planning and design to contracting.

In October, Kajima will establish a joint venture with Hanoi-based Indochina Capital. The new company, ICC-Kajima Development, will focus on such operations as real estate development and investment in Hanoi, Ho Chi Minh City and Danang. Kajima already develops property in four Southeast Asian countries, including Indonesia.

The projects planned are midsize, ranging from 2 billion yen to 10 billion yen ($19.5 million to $97.7 million) each. They would consist mainly of midrise buildings such as hotels for the middle class, apartments with services, and office buildings. The company has also acquired a 13-floor mixed-use facility in Danang to gain local real estate and operating know-how.

Kajima has been expanding its Vietnam business via contract work since it constructed a hotel in 1994. The company established Kajima Vietnam in Ho Chi Minh City this April, as it anticipates increased demand for factory construction with the growth of the Vietnamese economy.

Many other Japanese real estate developers have also entered Vietnam. Kajima looks to highlight its group's ability to take on construction, hoping to set itself apart from others.

(Nikkei)

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends July 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media