Mitsubishi Corporation (MC) is pleased to announce that it has reached an agreement on its participation in a residential development project underway in Ho Chi Minh City (HCMC), Vietnam. The project is being developed by Phuc Khang Investment and Construction Corporation (PK), a real estate developer in Vietnam. MC is already engaged the real estate development business in two cities in Vietnam - Binh Duong in the suburbs of HCMC and Hanoi, but this project will be its first in central HCMC, the country’s largest real estate market.

 

The project is located just 4 km southwest of the center of HCMC and is being developed by PK. The complex boasts distinctive features, including all units having the highly popular river view as well as high-performance functions that are quite advanced in Vietnam such as energy-efficient and water-saving technology, greening and insulation, among others. The project is mainly targeting HCMC’s rapidly growing middle class.

 

HCMC is the largest city in Vietnam, both in terms of population and economic scale. With steady economic growth resulting in an expanding middle class and accelerating demand for infrastructure development, including new urban transportation systems, the HCMC market is expected to continue seeing an increase in the demand for housing and other real estate. Starting with this project, MC’s aim is to continue working with PK to execute other real estate projects in HCMC.

                                                 

【Project outline】

Floor area                ：29,000㎡

Number of stories     ：22 stories above ground and 1 story below ground

Schedule                  ：Start of Sales/ 1/2018

                                    Completion / 12/2018

 

【Rendering of Completed Condominium】

【About MC】

Company name  : Mitsubishi Corporation

Year Established : 1954

Headquarters     : 3-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan

Representative   : Takehiko Kakiuchi, President and CEO

Business            : Mitsubishi Corporation is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation’s current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.

 

【About PK】

Company name   : Phuc Khang Investment and Construction Corporation

Year Established  : 2009

Headquarters      : Ho Chi Minh City, Socialist Republic of Vietnam

Representative    : Mr. Tran Tam, Chairman,Ms. Luu Thi Thanh Mau, General Director

Business             : Real estate development & investment, infrastructure construction & development, etc.