More than 200 million USD of Japanese FDI capital poured into Hai Phong real estate

This afternoon, November 25, Chuo Vietnam Co., Ltd. (part of Fujita Corporation, Daiwa House Group - Japan) held a groundbreaking ceremony for the Chuo 5-star hotel and luxury serviced apartment complex project in Lach Tray Riverfront Urban Area, Hai Phong (Water Front City).

This project is only one of three projects of Fujita Corporation, still an investor, deployed in the Water Front City urban area. The second project is the commercial center, apartment complex and luxury apartments expected to start construction in early 2017 on an area of 1.26 hectares. The remaining project is the luxury apartment and dining area with a construction area of 1.25 hectares and will start construction in the first quarter of 2018. The total capital of all three projects is more than 230 million USD.

The Chuon 5-star hotel and luxury serviced apartment project, which started construction this afternoon, has a total investment of 60 million USD and is deployed on an area of more than 1 hectare. The scale of the project includes two 22-storey towers. After the project is completed in early 2019, it will provide the Hai Phong market with an additional 269 hotel rooms and 192 service apartments under the Japanese brand Nikko Hotel.

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Prime Minister Nguyen Xuan Phuc and leaders of Hai Phong City together pressed the button to start the project complex. Photo: Thanh Son

Explaining the choice of Hai Phong as the company's investment destination in Vietnam, Mr. Yoshio Saeki, Chairman of the Board of Directors of Chuo Vietnam Company, shared at the ceremony that: Currently, Japanese investors are leading in the number of projects and ranked second in the amount of FDI capital invested in Hai Phong. The number of Japanese people living and working long-term in Hai Phong is also quite large - about 500 people and many other workers are managers, experts, and technical workers following projects to Hai Phong. Furthermore, Hai Phong has a convenient transportation infrastructure system with seaports, international airports, highways connecting directly to Hanoi,...; Hai Phong's industrial parks and economic zones receive synchronous infrastructure investment; The investment environment should be open and safeJapanese businesses will continue to choose Hai Phong as their destination. Therefore, there is a great need for housing and hotel projects to serve the Japanese community in Hai Phong.

Chuo 5-star hotel and luxury serviced apartment project is a closed complex with amenities such as restaurants, swimming pools, gyms... according to Japanese standards and quality, which will provide new options for domestic and foreign tourists and experts, especially Japanese people living and working in Hai Phong city.

Speaking at the ceremony, Mr. Nguyen Van Tung, Chairman of Hai Phong City People's Committee, affirmed: Fujita Corporation's series of projects will contribute to changing the urban appearance of Hai Phong city and provide the city's tourism industry with quality products. Mr. Tung also shared that Hai Phong is not only the locality attracting the largest investment in the country today (nearly 3 billion USD/2016) but also the destination of a series of tourism real estate and resort real estate projects with large capital scale. The fact that large investors such as Daiwa House Group choose Hai Phong to invest further affirms the great attraction of the city.

Speaking at the ceremony, Mr. Tung requested the investor to focus heavily on human and material resources to implement the project on schedule. The city's functional departments, agencies and People's Committee of Le Chan district must support investors and quickly resolve problems and difficulties of the project; create conditions for maximum support for investors and contractors to smoothly implement the project.

Thu Le