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In July 2020, BECAMEX TOKYU CO., LTD. (mentioned below as “BECAMEX TOKYU”) - a subsidiary of TOKYU CORPORATION (mentioned below as “TOKYU”) together with NTT URBAN DEVELOPMENT CORPORATION (mentioned below as “NTT Urban Development) established a joint venture company, “H9BC INVESTMENT COMPANY LIMITED” in Binh Duong Province, Vietnam, and will start a new condominium project “MIDORI PARK The GLORY” (mentioned below as “the Project”) in Binh Duong New City from December 2020.
The Project consists of 24-floor buildings which is around 1,000 high quality apartment units. The project is expected to be completed by spring 2023, followed by handover. With the concept of “ Large-scale residence for the upper middle class customers who want to spend relaxing time with their families”, BECAMEX TOKYU is developing a building that has “a variety of common facilities” as well as the “elegant design”. Moreover, cloud Wi-Fi system provided by NTT e-Asia Corporation, a member of NTT Group, (mentioned below as “NTT e-Asia”) will be installed in the common facilities, adapting all types of working style. This is the very first apartment in Vietnam that provides a “co-working space” for the residents.
Binh Duong is the province with a population of 2.4 million people, adjacently situated north to Ho Chi Minh City which is the largest city in Vietnam. Binh Duong is one of the provinces which actively attracts foreign investment in Vietnam and is placed 3rd for its more than 4,000 foreign direct investment (FDI) projects, after Ho Chi Minh City and Ha Noi. As the factories by foreign companies increase, the population grew accordingly.
During 8 years from 2012, TOKYU is developing an urban project "TOKYU Garden City" in Binh Duong New City (total area of around 1,000ha) fusing the local’s culture and customs with their experience from their project "TOKYU Tama Garden City" in Japan. Until now, in addition to developing 4 residential projects, 2 commercial zones, attracting schools and medical facilities, constructing transport system via operating public bus routes since 2014, to make it a fully functional urban, BECAMEX TOKYU also hold several community events to bring the liveliness to the city. The company plans to operate more bus routes connecting with Ho Chi Minh City in the future, to further develop Binh Duong New City and promote the movement of people.
NTT Urban Development has participated in many real estate projects in the UK, the USA and Australia. This is the first project launched in Asia, and the Corporation aims to expand their business in the South East Asia market. Moreover, as an activity of NTT Group, in March 2018, NIPPON TELEGRAPH AND TELEPHONE EAST CORPORATION signed a MOU of cooperation with
BECAMEX IDC CORPORATION in fields of Smart city realization in Binh Duong Province.
And as a joint business by subsidiaries of each, Vietnam Technology & Telecommunication JSC and NTT e-Asia , will provide various ICT services , in particular FTTH services and cloud Wi-Fi servives.
Both companies intend to use BECAMEX TOKYU’s 8 years of “high-quality construction and management” experience in Binh Duong and NTT Urban Development’s expertise in real estate development in many countries.
【Attachment】
Project General Information
| Project name | MIDORI PARK The GLORY |
| Site area | 19,000 m2 |
| Type | High quality residential apartment - Partly commercial |
| Scale | 24 floors (1,000 units) |
| Floor area | 130,000m2 |
| Apartment type | 1-3 bedroom(s) (Mostly 2-bedroom units) |
| Unit area | 48m2 ~ 108m2 per unit (Expected) |
| Shared facilities | Co-working space, pool, gym, tennis court, sky deck, guestroom, BBQ terrace, kids garden, community room, car parking lot, bike parking lot,… |
| Construction time | From December 2020 to Spring 2023 (Expected) |
| Sales starting date | Open for sale by Spring 2021 (Expected) |
| Price | From VND 1,60 billion /unit (Expected) |
Perspective of The project:
【Reference】
About the joint venture
| Company name | H9BC INVESTMENT COMPANY LIMITED |
| Address | SORA gardens, Lot C18-Hung Vuong Boulevard, Binh Duong New City, Hoa Phu Ward, Thu Dau Mot Town, Binh Duong Province |
| Project address | Lot H9, Binh Duong New City, Hoa Phu Ward, Thu Dau Mot City, Binh Duong Province, Vietnam |
| Representative | General Director - Mr. Hirata Shuji |
| Scope of Business | Real estate investment/ Real estate leasing |
| Investment capital | VND 650 billion |
| Establishment date | July 2020 |
| Investment ratio | BECAMEX TOKYU 70% NTT UD ASIA PTE. LTD (*) 30% ※Wholly owned subsidiary of NTT Urban Development |
About BECAMEX TOKYU
| Company name | BECAMEX TOKYU CO., LTD. (CÔNG TY TNHH BECAMEX TOKYU ) |
| Address | SORA gardens Lot C18-Hung Vuong Boulevard, Binh Duong New City, Hoa Phu Ward, Thu Dau Mot Town, Binh Duong Province |
| Representative | General Director - Mr. Oh Dongkun |
| Scope of Business | Real estate investment / Real estate sales / Real estate leasing |
| Investment capital | VND 8,600,000 billion |
| Establishment date | March 1st 2012 |
| Investment ratio | TOKYU Corporation 65% BECAMEX IDC Corp 35% |
Achievements of TOKYU in
Binh Duong New City
TOKYU has established many residential low-rise and high-rise housing, commercial facilities from 2012. Until 2014, a bus system was put into operation, contributed significantly to the using public transports of the residents.
▲ビンズン新都市開発全体イメージ
▲ Projects being developed in Binh Duong New City
＜Residential＞
- Type: Apartment (Completed)
- Site area: 9,082m2 Number of units: 406 units
- Unit area: 67~105 m2/unit
- Number of floors: 24 floors Completion: March 2015
- Type: Apartment (Under-construction)
- Site area: 7,948m2 Number of units: 557 units
- Unit area: 55~101 m2 /unit
- Number of floors: 24 floors Completion: Spring 2021
- ※Joint ventured with Mitsubishi Estate Residence.
- Type: Apartment (Completed)
- Site area: 9,087m2 Number of units: 604 units
- Unit area: 35~102 m2 /unit
- Number of floors: 24 floors Completion: December 2019
/HARUKA Residen
- Type: Low-rise housing (Terrace House)
- Number of units: 156 units (phase 1- 3)
- Unit area: 300~350m2 /unit
- Completion: Periodic construction since July 2017
＜Commercial＞
- Type: Commercial (food court, restaurant, café, …)
- Site area: 1,600 m2 Number of tenants: 17
- Operation: Since January 2015
- Type: Commercial (restaurant, café, convenient store…)
- Site area: 460m2 Number of tenants: 3
- Operation: Since October 2019
＜Transport＞
- Operation scope: Thu Dau Mot City ~ Binh
- Duong New City
- Number of routes: 6 routes and 11 lines
- Operation: Periodically operated from December 2014
- (Operated by BECAMEX TOKYU BUS CO., LTD.)
Achievements of NTT Urban
Development oversea
- Address: London, UK
- Type: Office building
- Site area: 100,000 sqf (Approximately 9,300 m2 )
- Number of floors: 8 floors, 1 basement
- Construction: 1920s
- Refurbishment: November 2016
- Address: Melbourne, Australia
- Type: Residential land sale
- Site area: 967, 100 m2
- Number of plots: 1,083
- Address: New York, USA
- Type: Apartment for lease
- Site area: 6,500m2
- Rental floor area: 19,500m2
- Number of units: 160 units
About NTT e-Asia
| Company name | NTT e-Asia Corporation |
| Address | 3-12 Saikumachi, Shinjuku, Tokyo |
| Representative | President and CEO: Mr. Tanabe Hiroshi |
| Executive Office in Binh Duong | Address: No.2 Tien Phong Street, Mapletree Business City, Hoa Phu Ward, Thu Dau Mot City, Binh Duong Province, Viet Nam Chief of Executive Office: Mr. Kanazawa Tomoaki |
| Scope of Business | Business related to telecommunications in Vietnam and surrounding countries |
| Investment capital | JPY 100 million |
| Establishment date | December 1996 ※Changed from NTT Vietnam from June 2020 |
| Investment ratio | Wholly owned by NIPPON TELEGRAPH AND TELEPHONE EAST Corp. |