The Japanese Group of Tokyu and Vietnamese Corporation of Becamex IDC on February 27th signed a deal to found a joint-venture to implement a large property project in the southern province of Binh Duong.

Under the agreement, the two sides will invest some VND25,000 billion of US$1.2billion, via the joint-venture Becamex Tokyu, in the property project to build an urban area named Tokyu Binh Duong Garden City in the new Binh Duong City.

According to the joint-venture, the urban area will contain trade centers, services sections, entertainment and sports sites and housing subprojects and its organisation and design will suit and harmonise with the general view of the new city.

The joint-venture is also planning to break ground for the project on March 2nd and infrastructural subprojects will be implemented right after that, both Japanese and Vietnamese investors affirmed at the signing ceremony.

Source: TBKT

Translated by Thu Nguyen