The signing ceremony of cooperation agreement to develop the One World urban area project in Binh Duong province. (Photo: VNA) Binh Duong (VNA) – Japanese and Vietnamese investors of The One World urban area project inthe southern province of Binh Duong received in-principal approval at a ceremony in the locality on April 17.
The over-1-billion-USD project is one of the real estate sector having a clean land fund of nearly 50 ha in Thuan An city, adjacent to Ho Chi Minh City.
Three Japanesecompanies namely Sumitomo Forestry Group, Kumagai Gumi Co., Ltd, and NTT UrbanDevelopment Corporation make up a total of 49% of the shares in the project, while the rest come from their Vietnamese partner - the Kim Oanh Real EstateGroup.
The project is divided into six sub-projects. Key facilities including aconference and exhibition centre, an AEON shopping centre, five-star hotels,and an international school will be constructed in advance.
Japanese Consul General in HCM City Ono Masuo said the development oflarge-scale urban areas contributes to building a sustainable city andsupporting carbon neutrality efforts.
The common goal andalso the top priority of these investors is to contribute to realising aprosperous society by providing safe and high-quality housing and jointlydeveloping a large-scale mixed-use shopping centre in Binh Duong, he said.
The project will bringabout a sustainable and environmentally friendly business model, creating aprosperous and sustainable future through applying information technology,communication, or advanced environmental technologies, contributing to the locality’seconomic development.
Chairman of the provincial People’s Committee Vo Van Minh expressed his belief thatthe project will help change the urban landscape of Thuan An city and thesouthern urban area of the province in general./.
VNA
