Waterpoint City Nam Long (Dong Nai Waterfront City) is a new urban city in Dong Nai, opposite Vinhomes Grand Park by VinGroup JSC and near Aqua City by Novaland Group. Total scale is reported to be 7,000 housing lots of multi types. Project to commence in 2020 and complete in 2025.
Freehold for Vietnamese citizens. Foreigners who are living in Vietnam may purchase for the purpose of residing in it. By Vietnamese Law you can occupy a “land use right” for up to 50 years. Red book for 170 ha with 1/500 approved in 2019.
Dong Nai Waterfront City was approved in 2007 with total of area 366.7 ha developed as a joint venture between Dona Corp, An Phu Long and Keppel Land. Keppel Land had a reported ownership of 50%. In 2018 the joint venture separated, Keppel Land retained about 192 ha and 10 years later the project was renamed Dong Nai Waterpoint City Nam Long. New partner Nam Long.
Media report as attache (see Media) indicates Nam Long acquired 70% Dong Nai Waterpoint City through Portsville Pte. Ltd. a small company of Keppel Corp. Total transfer value was about VND2,313 billion at the beginning 2019 (see media section). Beside, Keppel Land a real estate developer of Keppel Corp has 10% capital in Nam Long through IBEWorth Pte. Ltd.
Q3 2019: Launching in 2020. Price not yet disclosed.