Nishitetsu Plans Development of 22,000 Housing Units in Vietnam by 2035
- brg_news_room
- 2 days ago
- 1 min read
Vietnam: Nishi-Nippon Railroad, also known as Nishitetsu, plans to develop around 22,000 housing units in Vietnam between 2026 and 2035 through a partnership with local developer Nam Long Group. The Japanese company has acquired a 49% stake in Nam Long ADC, a subsidiary focused on affordable and middle-income housing projects, while Nam Long will retain the remaining 51% stake. The partnership will expand existing residential developments around Ho Chi Minh City into suburban areas of Hanoi and Da Nang.
The planned projects will target affordable housing segments, with apartment prices expected to start at around VND 1.2 billion (EUR 38,740 approx.) and detached homes around VND 2.5 billion (EUR 80,709 approx.). The companies stated that the expansion aims to address rising housing demand in Vietnam, where annual affordable housing requirements remain significantly higher than supply. Nishitetsu will also participate in management and technical operations as part of the joint venture, while continuing to expand its overseas real estate presence across Southeast Asia, including projects in Indonesia, the Philippines, and India.
Source: Fukuoka News
