Ms. Dang Thi Kim Oanh, Chairwoman of the Board of Directors and General Director of Kim Oanh Group, said that Japanese partners often have hundreds of years of experience in the real estate market, are professional, transparent and disciplined.
Ms. Dang Thi Kim Oanh, Chairwoman of the Board of Directors and General Director of Kim Oanh Group, said that Japanese partners often have hundreds of years of experience in the real estate market, are professional, transparent and disciplined.
Sharing her experience at the Vietnam M&A Forum 2024, Ms. Dang Thi Kim Oanh, Chairwoman of the Board of Directors and General Director of Kim Oanh Group, said that the Company chose to cooperate with Japanese corporations, even though the conditions for "shaking hands" were very difficult.
"They are partners with hundreds of years of experience in the real estate market. They are professional, transparent and disciplined, so even though it is difficult, we have to do it to learn," Ms. Oanh explained when she decided to choose Japanese corporations.
Kim Oanh has 20 years of experience in real estate development and has gone through many ups and downs. In 2024, the Company began cooperating with 4 Japanese corporations and is expected to take 2 years to complete.
"Working with one Japanese partner is difficult, but with four partners, it's even more difficult. Japanese partners require a lot of detailed work, difficult requirements that M&A deals in the Vietnamese market do not have, so we have to take a step back to get this cooperation," Ms. Oanh frankly shared.
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| Ms. Dang Thi Kim Oanh, Chairwoman of the Board of Directors, General Director of Kim Oanh Group |
According to Ms. Oanh, Japanese investors are interested in prime locations and clear legal status. They also have a practice of "paying according to legal progress" and Kim Oanh must accept this. The contract also strictly binds the progress.
"There are many difficult terms but we can proudly say that Kim Oanh has been and is in the final stages of the cooperation deal. We are also about to complete the legal progress. Of course, in addition to this cooperation deal, we have many projects that we hope to have investment cooperation in, such as social housing projects, houses for people with average incomes and high-end customer segments," Ms. Kim Oanh shared at the Forum, in front of many investors.
For the social housing segment, after more than a year of market and segment research, Kim Oanh Group has completed the Project to develop social housing and low-income housing with 2 phases from now until 2028.
Specifically, Kim Oanh Group will develop 26 projects (including 23 social housing projects and 3 low-income housing projects) with a total of about 40,000 products; the total investment is about 31,000 billion VND. In phase 1, from now until 2026, Kim Oanh Group will introduce 14 projects with 25,000 products to the market. In 2023 alone, 4,800 low-rise and high-rise social housing products will be introduced to the market in Binh Duong and Dong Nai.
With the desire to "create 'Singapore-standard' social housing projects for Vietnamese families", Kim Oanh Group has recently signed a strategic cooperation agreement with Surbana Jurong Group. Accordingly, in addition to commercial projects, Surbana Jurong also joins Kim Oanh Group in developing social housing projects with the expectation of contributing to improving the quality of life for people living in the projects.
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Kim Oanh Group currently owns more than 500 hectares of land in many vibrant development areas such as Binh Duong, Dong Nai, Ba Ria - Vung Tau, Phu Quoc (Kien Giang) and will reserve 20% of the area to develop social housing projects.
In addition to housing construction projects in various segments, Kim Oanh Group also has land funds to cooperate with foreign investors to develop healthcare and education, invest in hospitals with good facilities and services so that Vietnamese people can receive medical treatment right in Vietnam. Kim Oanh Group's strategy of cooperation with investors is mutually beneficial, "win-win".
Source: https://baodautu.vn/batdongsan/kim-oanh-group-tam-lui-mot-buoc-de-tien-ba-buoc-d231129.html
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