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 in the 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 Japanese companies namely Sumitomo Forestry Group, Kumagai Gumi Co., Ltd, and NTT Urban Development 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 Estate Group.
The project is divided into six sub-projects. Key facilities including a conference 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 of large-scale urban areas contributes to building a sustainable city and supporting carbon neutrality efforts.
The common goal and also the top priority of these investors is to contribute to realising a prosperous society by providing safe and high-quality housing and jointly developing a large-scale mixed-use shopping centre in Binh Duong, he said.
The project will bring about a sustainable and environmentally friendly business model, creating a prosperous and sustainable future through applying information technology, communication, or advanced environmental technologies, contributing to the locality’s economic development.
Chairman of the provincial People’s Committee Vo Van Minh expressed his belief that the project will help change the urban landscape of Thuan An city and the southern urban area of the province in general./.
VNA
