TOKYO, Dec 26, 2017 - (JCN Newswire) - 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.
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry, including industrial finance, energy, metals, machinery, chemicals, and daily living essentials. MC's current activities have expanded far beyond its traditional trading operations to include investments and business management in diverse fields including natural resources development, manufacturing of industrial goods, retail, new energy, infrastructure, finance and new technology-related businesses.
With over 200 offices and subsidiaries in 90 countries and regions worldwide and a network of approximately 1,300 group companies, MC employs a multinational workforce of over 70,000 people.
For more information, visit https://www.mitsubishicorp.com/jp/en/
Dec 26, 2017 08:16 HKT/SGT
Source: Mitsubishi Corporation
Mitsubishi Corporation (TSE: 8058)
Topic: Press release summary
Sectors: Real Estate
From the Asia Corporate News Network
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