Nishi Nippon Railroad Co. and Hankyu Realty Co. announced that they started development of an apartment building in Ho Chi Minh in collaboration with a local developer, Nam Long Investment. This will make the first project by the two companies launched outside Japan.

The condominium, Flora Anh Dao will be located in District 9, about 10 kilometer from central Ho Chi Minh. The 37,854m2 building, designed and constructed by local contractors, will provide 500 units. The total investment is some 500 billion dong or 2.8 billion yen.

The three companies are looking to more opportunities in real estate market in the city. The Japanese firms aim to start overseas businesses in a full swing especially in ASEAN nations. (2015/04/06)