Waterpoint

CBRE Vietnam and Nam Long Investment Corporation Announce Strategic Consultancy Agreement
13th June, 2012


CBRE Vietnam and leading real estate developer Nam Long Investment Corporation today announced a strategic partnership to collaborate on the 355 ha Ben Luc Township Development, located in Long An province. CBRE Vietnam, working with a team from CBRE’s Malaysian office, will offer strategic advice on the retail component of the township, which will also feature residential housing and a university in addition to other services and facilities.

Nam Long, headquartered at their self-developed Capital Tower building in District 7, has seen considerable success in the residential market with projects such as An Vien Condominiums and Nam Phu villas, both also in Distric 7. Nam Long is actively expanding to development and growth zones outside of HCMC. Considering the growth forecasted for the provinces surrounding HCMC, Nam Long Chairman Nguyen Xuan Quang said, “It is apparent to those of us in the HCMC property industry that 2011 has been a tough year. Despite this, Nam Long remains committed to being one of the leading developers of real estate in Vietnam. Given the change which we will witness in Vietnam over the coming decades, the potential for development in provinces surrounding HCMC is enormous. As urbanisation increases in Vietnam, and the population increasingly moves towards urban living, Long An Province will be a preferred destination. Nam Long’s intention is to lead the market in serving the needs of the growing population in this area through the provision of market leading real estate.”

CBRE Vietnam will bring in counterparts from their Malaysian office to assist in the delivery of the consulting project. CBRE Malaysia has experience working on some of the most notable projects in Malaysia, as both a development consultant and leasing agent, and therefore they bring a wealth of knowledge to the emerging Vietnamese market. Included within the team’s track record is The Curve development, located in Mutiara Damansara. This is a unique ‘pedestrianised’ suburban lifestyle mall that is home to over 50 food retailers, over 180 fashion retailers and located 12 km from the centre of Kuala Lumpar.

Commenting on the agreement, Adam Bury, Senior Manager, Research and Consulting, CBRE Vietnam said, “We are delighted that Nam Long has selected the CBRE team to collaborate on this project with them. By combing our own on the ground knowledge here in Vietnam, with the extensive experience from our Malaysian colleagues we believe that we are offering a service unrivalled in the market. Our ultimate goal will be to provide the people of Vietnam, and Nam Long, with a retail destination that is unlike any other.”

Dau Tu & Chung Khoan 11 Nov 2011