Vietnamese real estate developer Kim Oanh Group held a ceremony on April 17 to receive an approval in principle certificate, becoming the investor of The One World project in the southeastern province of Binh Duong. The real estate developer also signed an investment cooperation agreement with three leading Japanese companies, namely Sumitomo Forestry, Kumagai Gumi, and NTT Group. On this occasion, Kim Oanh Group also inked a deal with AEON Vietnam, a member of the AEON Group in Japan, to develop a commercial center in The One World project.
Strategic collaboration among giants
The One World urban area project covers nearly 50 hectares with a total investment of more than US$1 billion. It is strategically situated amidst major roads including Binh Duong Avenue (National Highway 13), Nguyen Thi Minh Khai Street, and Beltway No. 3 in Thuan An City, Binh Duong Province. With the collaboration of prestigious corporations, The One World project is poised to become a leading urban area in Binh Duong. The project is envisioned as the “all in one” complex, offering a comprehensive array of amenities including conference and convention centers, five-star hotels, shopping centers, schools, healthcare facilities, sports and fitness centers, as well as office spaces.
According to the agreements, Kim Oanh Group will hold a 51% stake in the project, while the three Japanese partners—Sumitomo Forestry, Kumagai Gumi and NTT—will collectively hold the remaining 49%. Additionally, AEON Vietnam will develop and manage a large-scale, high-end shopping center within The One World urban area.
Dang Thi Kim Oanh, chairwoman of the Board of Directors and general director of Kim Oanh Group, said that the involvement of prestigious Japanese corporations like Sumitomo Forestry, Kumagai Gumi, and NTT will guarantee professionalism, credibility, and high quality in their real estate projects. This involvement also facilitates the management of urban environments and the integration of cutting-edge technologies, ultimately enhancing residents’ quality of life and enriching their experiences. Moreover, the presence of the AEON Mall shopping center in this project is expected to offer upscale shopping and entertainment experiences, thereby increasing the value of real estate for property owners.
Sumitomo Forestry is an international firm with a 333-year history of growth across a wide range of sectors, including resource management, environmental initiatives, timber and construction materials, real estate development, housing, construction, and social welfare services.
Currently, Sumitomo Forestry has achieved significant success through various business ventures in Vietnam. Prior to signing the investment collaboration agreement for The One World urban area project, Kim Oanh Group and Sumitomo Forestry had previously collaborated on a project in Vung Tau City.
Kumagai Gumi stands as one of Japan’s and the world’s leading construction conglomerates, with a 126-year history of growth and development. The Japanese firm has left its mark with the creation of numerous iconic skyscrapers, including the Taipei 101 Tower in Taipei. Additionally, it has spearheaded various infrastructure initiatives worldwide, from subway systems to dams, roads, and tunnels in multiple countries and territories such as the U.S., Australia, and China.
NTT Group, also known as Nippon Telegraph and Telephone Corporation, is one of the foremost telecommunications conglomerates globally, with NTT Urban Development playing a pivotal role in the group’s urban development endeavors. NTT leads the way in integrating cutting-edge technologies into its services and products.
On the other hand, AEON is considered a premier retail conglomerate with its headquarters in Japan. AEON Vietnam, a subsidiary of AEON Group, plays an active role in the development of Vietnam’s vibrant retail market through its modern supermarket and shopping center model.
The partnership between Kim Oanh Group and Kumagai Gumi is more than just a merging of experience and reputation; rather, it presents an opportunity to develop a city that is not only more aesthetically pleasing but also of higher quality.
Moreover, the collaborative endeavors of Kim Oanh Group and AEON Vietnam pledge to establish a dynamic and diverse living environment within The One World urban area project upon its completion. Renowned for its superior shopping amenities, services, and abundant entertainment options, the urban area will offer residents both convenience and comfort, while ensuring top-tier shopping and service experiences.
An international-standard urban area in Binh Duong
As part of the mentioned event, Kim Oanh Group and its Japanese partners committed to work closely together to shape The One World project into a living space meeting international standards with the harmony of natural beauty, culture, and modernity.
The One World project comprises shophouses, terraced houses, compound villas, and apartments among others. Oanh of Kim Oanh Group said the project is divided into six components. Following the signing ceremony, construction work promptly began on essential facilities within the project, such as the conference-exhibition center, AEON shopping center, five-star hotel, and international schools. It is anticipated that the project’s offerings will be introduced to the market by 2025.
The collaboration between Kim Oanh Group and the Japanese corporations is a crucial milestone in shaping the future of The One World project. With the combined capabilities, resources, experience, and dedication from both sides, The One World urban area will evolve into an emblem of prosperity in Thuan An City, Binh Duong Province.
Kim Oanh said, “The partnership with the four Japanese corporations is of strategic significance to Kim Oanh Group. It also represents a notable milestone, highlighting trust and collaboration among leading companies. With this pivotal project, Kim Oanh Group and its Japanese partners are enthusiastic about establishing a symbol of prosperity in Binh Duong, while fostering a sustainable real estate value system for the community.”
Before collaborating with Sumitomo Forestry, Kumagai Gumi, NTT, and AEON Vietnam, Kim Oanh Group had forged strategic partnerships with several prestigious brands, such as Frasers Property, CPG, Surbana Jurong, and Interlink Education in order to broaden its activities and explore new development opportunities.
| Over the past 16 years of establishment and growth, Kim Oanh Group has steadily cemented its position as a leading brand in the southern real estate market. One of its major strengths lies in its ownership of a sizable land bank of around 500 hectares, strategically located in key areas like Binh Duong, Dong Nai, Ba Ria-Vung Tau, and Phu Quoc (Kien Giang Province). Furthermore, the group is actively seeking new land acquisitions to enrich its investment portfolio with urban projects ranging from 50 to 100 hectares in scale. Concurrently, it is venturing into new sectors such as tourism, commerce, education, and furniture manufacturing. |
