Sumitomo Forestry Group and Kim Oanh Group signed a strategic cooperation agreement in early April to establish KS Sustainable Development JSC, for the development of large-scale real estate projects. Dang Thi Kim Oanh, chairman of Kim Oanh Group, and Kenji Inui, managing director and deputy director of the Global Housing, Construction, and Real Estate division …
Sumitomo Forestry Group and Kim Oanh Group signed a strategic cooperation agreement in early April to establish KS Sustainable Development JSC, for the development of large-scale real estate projects.
Dang Thi Kim Oanh, chairman of Kim Oanh Group, and Kenji Inui, managing director and deputy director of the Global Housing, Construction, and Real Estate division of Sumitomo Forestry Group signing the strategic cooperation agreement
Giants shaking hands
According to the cooperation agreement, KS Sustainable Development will implement a real estate project in Vung Tau City, in Ba Ria Vung Tau province. The project marks the beginning of a partnership and covers 118 town houses and shophouses, which are expected to be rolled out by the end of this year.
The partnership comes after nearly a year of both companies exploring the potential for cooperation and mutual development, and they will continue to research and cooperate with each other to develop other major projects in the future.
Sumitomo Forestry is a 332-year-old international corporation that operates in many fields, including timber and building materials, real estate and construction services. The firm has been very successful with its many business activities in Vietnam and has always set strict standards for choosing its business partners.
Kim Oanh Group is proud to become their strategic partner to develop real estate projects in Vietnam. The move marks a big step forward for Kim Oanh Group to demonstrate its capacity for major development projects.
The leaders of Sumitomo Forestry Group and Kim Oanh Group taking a photo together
The two brands will create synergy to develop real estate projects built to international standards. The projects will not only create ideal living spaces, but also create value when delivered to customers.
A representative from Sumitomo Forestry Group said the two sides share the same strategic vision and development values, with Kim Oanh Group's strengths including its capacity for project development and its dynamic staff.
“Vietnam's real estate market has tremendous potential with a young population, high economic growth, and rapid urbanization. Therefore, the cooperation with Kim Oanh Group will contribute to helping Sumitomo Forestry penetrate deeper into the real estate market in this country of 100 million people,” Sumitomo Forestry representative said.
Meanwhile, Dang Thi Kim Oanh, chairwoman of Kim Oanh Group, believes the partnership with the Japanese giant to be a stepping stone for the group to extend its reach into the international market.
“Sumitomo Forestry is a leading corporation in many sectors that comprise the backbone of the economy. This partnership enhances both firms' potential and helps us improve our management, operations, and investment strategies, along with increasing our brand awareness,” Oanh said.
The partnership opens up opportunities for Kim Oanh Group to effectively exploit 500 hectares of available land in several locations such as Binh Duong, Dong Nai, Ba Ria Vung Tau, and Kien Giang.
Beyond residential real estate, Sumitomo Forestry and Kim Oanh Group will explore opportunities in other fields such as industrial real estate, tourist resorts, and construction.
A new development phase
Over the last 15 years, Kim Oanh Group has become one of the most prestigious real estate developers in Vietnam with a real estate arm that includes land and project development; real estate marketing and brokerage; infrastructure construction and development; luxury real estate development; and a professional charity foundation.
The strategic handshake between Kim Oanh Group and Sumitomo Forestry Group promises a bright future together
After moving its headquarters to Ho Chi Minh City, Kim Oanh Group developed a multi-sector investment group model, and the group has so far successfully developed around 50 projects in key southern-region markets.
Kim Oanh Group holds a lot of high-value land in prime locations, giving it a secure and solid business foundation, and it continues to keep an eye out for new land investment opportunities to add to its portfolio of projects.
Before the strategic cooperation with Sumitomo Forestry Group, Kim Oanh Group had previously partnered with several other foreign firms, including Frasers Property, CPG, Surbana Jurong of Singapore, and Maple Bear of Canada.
Many domestic groups have also formed partnerships with the group, such as OCB, FPT Software, and Interlink Education.
Kim Oanh Group is entering a new phase of development and the group is expected to become more professional with a more sustainable business model, thereby contributing more value to its customers and the community.
Some more pictures from the event:
