Indochina Capital teams up with Kajima Corporation
September 16, 2016
Ho Chi Minh City, 16th September 2016 – The real estate market in Vietnam is maturing and developing rapidly presenting many new and exciting opportunities. Indochina Capital, one of Vietnam’s leading real estate and financial services firms, has signed an agreement to establish a new Joint Venture with Kajima Corporation, a major Japanese construction and real estate development company whose global presence expands to the most important markets in the world. The move underscores Indochina Capital’s continued growth and commitment to developing high-quality projects in Vietnam.
Since its establishment in 1999, Indochina Capital has been a prominent name in Vietnam’s high-end real-estate market. Indochina Land, the company’s real estate division, has pioneered the domestic luxury market with a series of iconic developments across the country such as The Nam Hai, Six Senses Con Dao, Hyatt Regency Danang, Montgomerie Links Vietnam, and Indochina Plaza Hanoi which are the best hotels in Hanoi. Indochina Land has solidified its lasting reputation through a consistently strong commitment to quality, innovation, timeless designs, environmental sustainability, and sophisticated luxury.
Kajima Corporation, founded in 1840, is one of the big four Japanese contractors and the largest Japanese overseas real estate developer. Kajima’ Corporation’s global footprint operates through subsidiaries in North America, Europe, Asia and Australia. Some of the company’s most impressive projects include the Four Seasons Resort Hualalai, Hawaii, one of the world’s most breathtaking resorts, and Senayan Square in Indonesia, one of Asia’s largest multi-purpose developments that has left a profound mark on Jakarta’s real estate landscape. Kajima Corporation has immense financial strength and credibility, with its stock listed on four leading exchanges in Japan. Kajima Corporation’s stock is a constituent of the Nikkei 225 Index, with total market capitalization reaching JP¥ 750 billion, or US$ 7.5 billion.
The new Joint Venture, named Indochina Kajima Development Ltd. (ICC-Kajima), aims to build on the success and impressive track record of the two companies, developing quality and innovative real estate projects throughout Vietnam. Commenting on the new venture, Peter Ryder, Founder and CEO of Indochina Capital said.
“Our goal is to build on our track-record as Vietnam’s leading high-end real estate developer. We will continue pioneering with our vision of sophistication and luxury. We have a clear strategy which addresses the current and future demands of the market with a focus on delivering accommodation themed projects while maintaining our unwavering commitment to architectural excellence, environmental sustainability and social responsibility. The joint venture will bring exceptional value to its partners, customers, investors, and the community.”
Providing further comment on the group’s strategy, Michael Piro, Chief Operating Officer of Indochina Land stated that “ICC-Kajima will initially focus on urban in-fill accommodation projects, in the residential and hospitality segments, in Hanoi, Ho Chi Minh City and Danang. The company will be primarily focused on providing permanent and temporary accommodations in the form of Hospitality-Serviced Apartments-Hotels and Residences For Sale. These are areas where we have a market leading track record and are highly confident of building on our success in these segments”
Mr. Ryder added “We are very excited about utilizing the Indochina Capital foundation – our in-depth experience in local project development and our team of seasoned and dedicated professionals – in partnership with Kajima, one of the world-most prominent names in construction and real estate development, to build quality and innovative real-estate projects to take advantage of the opportunities that Vietnam presents as it continues to march into the future”.
Commenting on the new Joint Venture establishment, Mr. Keisuke Koshijima, who heads Kajima Corporation Overseas Division stated “Vietnam has always been a market of interest to Kajima Corporation. Identifying the right partner has been the critical consideration and we are pleased to partner with Indochina Capital in the formation of ICC-Kajima. We share the common goal to achieve excellence in every aspect of our operations, management, execution and people performance. We aspire to create superior value for our investors and customers.”
Indochina Capital and Kajima Corporation are equal partners in the new Joint Venture with total investment estimated to be US$1 billion over the next decade.
About Indochina Capital
Founded in 1999, Indochina Capital Corporation is one of Vietnam’s leading real estate, investment and financial services firms. Indochina Capital and its affiliates have a countrywide footprint with offices in Hanoi, Danang and Ho Chi Minh City. Indochina Land, the most recognized name in luxury real estate in Vietnam, has an award-winning property development track record across Vietnam. Indochina Land has been recognized as the “Best Developer in Vietnam” on numerous occasions by a variety of regional and global real estate groups.
About Kajima Corporation
Kajima Corporation, headquartered in Tokyo Japan, has been established for 176 years. The corporation is currently one of the big four Japanese contractors and the largest Japanese overseas real estate developer. Its stock is listed and traded on Japan’s four leading exchanges and is one of the stocks that constitute the Nikkei 225 Index. The group’s total market capitalization currently reaches JP¥ 750 billion (equivalent to US$ 7.5 billion). Its total staff is 7,500 people.