Following a cooperation agreement on June 22, Japan based Hinokiya and Vietnam based TWG are setting up a joint venture to develop real estate projects in Vietnam.
TWG CEO Le Cao Minh commented that the first project will be in HCMC which will be a Japanese style housing covering an area of 9.7 hectares. Many foreign investors are interested in Vietnam due to its high growth rate. Many foreign investors are also relocating their factories to Vietnam.
Foreign Investment Agency (FIA) presented data that suggested that FDI in real estate sector increased from $3.05 billion in 2017 to $5.5 billion in the first six months of the current year which accounted for 27.25 percent of total registered FDI capital.
FIA has also noted that investors are targeting mainly housing development, industrial production, retail premises, offices and tourism real estate and many large- scale projects have been registered recently.
Founded in 1988, Hinokiya operates as a custom housing company in Japan and it designs constructs, and sells houses; undertakes renovation, expansion, and reconstruction works; and offers real estate brokerage services. Headquartered in Japan, Hinokiya also leases houses; provides real estate investment and lease management consulting services; and produces and sells thermal insulation materials. Hinokiya hires around 2636 employees around the world.
Founded in 2006, TWG is a group comprising of 9 companies. Headquartered in Vietnam, TWG is envisioning a prosperous and sustainable future in Vietnam. TWG employs 1500 employees and is currently involved in 320 projects.