Cosmos Initia - How strong is the Japanese enterprise that has just landed in Vietnam real estate?
Recently, the joint venture Cosmos Initia with 2 other enterprises has just launched a project of 2,000 apartments, priced under 2 billion VND in Binh Duong. Officially marking the presence of this enterprise in the Vietnamese real estate sector.
Investing heavily in affordable housing
According to information from TT Capital Investment Joint Stock Company, this company has just cooperated with two partners from Japan, Cosmos Initia (member of Daiwa House Group) and Koterasu to develop affordable housing products in Binh Duong and neighboring provinces.
The joint venture announced it will invest about 150 million USD in the next 5 years, aiming to bring thousands of low-cost apartments to the market each year.
According to information published by Cosmos Initia, this company has been present and surveyed the Vietnamese market since 2019. Cosmos Initia believes that the housing supply in Ho Chi Minh City and neighboring areas is in serious shortage. According to this company, Ho Chi Minh City has more than 10 million people, but the total supply of all types of housing is about 300,000 units. In addition, in the past 2-3 years, the supply has only been about 10,000 units.
Therefore, in December 2023, after "joining hands" to launch the Cosmos Initia - TTCapital - Koterasu Partner Joint Venture, Cosmos Initia announced a plan to invest about 150 million USD within 5 years with the goal of bringing to the market about 1,000 apartments in the affordable apartment segment each year.
This joint venture launched its first project with an area of over 1.6 hectares in Di An City, Binh Duong Province, near Vincom Plaza Di An. The project has a scale of about 2,000 apartments. This is the first multi-style apartment complex with a Japanese-standard living environment in Di An City, Binh Duong, located next to Thu Duc City (HCMC). with an average price of less than 2 billion VND per apartment.
Sharing with the media, he Keisuke Muraoka, representative “ We started in Tokyo, where there was a housing shortage. From the perspective of homebuyers, we thought about how to create a better living environment. That was the foundation of our company. That means, even in Japan, we always focused on the mid-range segment,” said Cosmos Initia.
From this business foundation, when entering Vietnam, Cosmos Initia also targets similar customers who are looking to buy real houses and want to provide a quality living environment. So in Vietnam, we also decided to target the mid-range market segment.
Not only in the housing business, Cosmos Initia also operates in the accommodation sector by developing and operating a chain of MIMARU apartment-style hotels (a completely new style of short-term accommodation in urban areas that is very popular in the world).
Responding to the press at the Industrial Park Real Estate Forum organized by Dau Tu Newspaper on July 30, 2024 in Ho Chi Minh City, Ms. Trang Bui, General Director of Cushman & Wakefield Vietnam, commented that foreign investors are always interested in the movement of the Vietnamese market, especially after the three laws (Land, Housing, Real Estate Business) came into effect.
According to Ms. Trang, the direction of this foreign capital flow is also affected by direct changes in the market, but over the past year the government has been encouraging and creating conditions for real estate businesses to build low-cost housing. Therefore, it is not surprising that more and more investment funds and international businesses are targeting this type. Among them, investors from Japan, Singapore, and Thailand are the groups most interested in the segment serving real housing needs.
What do you know about Cosmos Initia?
Founded in 1969, Cosmos Initia started out in the real estate industry in 1974. Today, the company has grown into one of the leading real estate operators in Japan with a wide range of services. Since its establishment in the central area around Tokyo, the company has provided more than 100,000 apartments.
Among these, the location near the athlete village used in the Tokyo Olympics - Harumi Residence Project. In addition, outstanding projects such as the INITIA Senju Akebonocho high-rise apartment complex or the INITIA Cloud Sasazuka project - one of the largest high-rise apartment projects in the center of Shibuya district are excellent projects that won the Good Design Award - a prestigious award in the real estate sector in Japan.
In Australia, Cosmos Initia has built its reputation through notable projects such as: The Flour Mill of Summer Hill; Tempo, Drummoyne; The Lawson Terraces, Naremburn; Longhouse, St Ives; OTTO, Cremorne.
In addition, Cosmos Initia also offers super luxury apartments and townhouses priced up to 3-5 million Australian dollars.
Cosmos Initia is headquartered in Tokyo and has 7 representative offices in Japan. The company operates mainly in the Japanese market and many countries such as Australia , the United States, New Zealand, etc.
According to the company profile, Cosmos Initia's capital contribution as of March 31, 2024 is 5 billion JPY (equivalent to 803,417 billion VND). The Chairman of the Board of Directors is Mr. Yoshiyuki Takagi.
Cosmos Initia is a member company of Daiwa House Group. Regarding the parent company, Daiwa House Group, is known as the leading digital real estate group in Japan with nearly 70 years of development, charter capital of up to 1.26 billion USD, doing business in Japan and 24 countries around the world, operating in the field of construction, design, construction of civil houses, luxury apartments, hotels, commercial projects, factories, warehouses, industrial parks...
In Vietnam, Daiwa House Group is one of three Japanese partners in a joint venture with Phu My Hung to develop the Phu My Hung Midtown project in District 7, Ho Chi Minh City.
In addition, Daiwa House Group has also made its mark with many other iconic projects in Vietnam such as: Roygent Parks Hanoi; Nikko Hai Phong Hotel and Roygent Parks Hai Phong; Long Duc Industrial Park in Dong Nai; DEEP C Industrial Park in Hai Phong; Factory and warehouse project in Long Thanh, Dong Nai; Logistics facility project in Minh Quang, Hung Yen, in cooperation with WHA Group.
With great potential support from the reputation and finance of the parent company, along with the goal of setting for the affordable housing segment. Cosmos Initia is expected to be a new name with experience and strong potential.
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