HCMC – Japan’s Nishi-Nippon Railroad, widely known as Nishitetsu, plans to develop about 22,000 affordable homes in Vietnam by 2035 through a strategic partnership with a local partner.
Nishitetsu is a diversified Japanese group with more than 100 years of operations in transport, logistics, real estate and hospitality.
Under the plan, Nishitetsu has completed its acquisition of a 49% stake in Nam Long ADC, an affordable housing developer under Nam Long Group. Nam Long holds the remaining 51%, with the two sides operating the company as a joint venture.
As a strategic shareholder, Nishitetsu will take part directly in governance, appoint senior personnel to manage Nam Long ADC, and leverage its strengths in design, engineering and operations to improve project efficiency.
The move is part of the Japanese group’s strategy to expand in Southeast Asia, where urbanization and population growth are accelerating.
The joint venture said it targets 80% growth by 2030 and plans to hand over more than 22,000 housing units by 2035. The projects will focus on Nam Long’s EHome and EHomeS product lines, targeting first-time homebuyers and young families.
Apartment prices are expected to start at around VND1.2 billion, while landed homes could cost about VND2.5 billion.
In terms of resources, Nishitetsu has committed to providing unconditional funding, with priority given to expanding new land reserves.
The Japanese group will also transfer construction standards, quality control procedures and advanced technologies from Japan. Its team of experts will support project design optimization, material selection and the improvement of quality management systems across developments.
