Vietnamese developer to tap nascent suburban-style homes
It aims for a 10-fold rise in its market capitalisation to US$1b by 2020
Add BT as a preferred source[HO CHI MINH CITY] Nam Long Investment Corp, Vietnam's biggest affordable housing developer, plans to move to building satellite towns, which are taking hold as rising incomes in South-east Asia feed surging demand for suburban-style living.
Nam Long, which started trading a year ago on the Ho Chi Minh City Stock Exchange, is targeting a 10-fold increase in its market capitalisation to US$1 billion by 2020, by developing suburban-style communities on its blocks of land, including in the province of Long An, a gateway to the country's rice-growing Mekong Delta.
Strong demand for affordable housing in Vietnam as the country urbanises has helped overcome a "challenging" national property market in recent years, the International Finance Corp said in February.
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