On Dec 7, Chairman of Hanoi People's Committee Nguyen Duc Chung welcomed Mr. Kuniharu Nakamura, President cum CEO of Sumitomo Corporation (Japan) and Ms. Nguyen Thi Nga, Chairman of BRG Group to exchange information related to the Smart City project in Dong Anh district.
On June 5, 2017, during the official visit of Prime Minister Nguyen Xuan Phuc to Japan, this cooperation agreement was signed between Hanoi People's Committee, BRG Group and Sumitomo Corporation (Japan), totaling US$ 4 billion.
Chairman of Hanoi People's Committee Nguyen Duc Chung (R) and Mr. Kuniharu Nakamura, President - CEO of Sumitomo Corporation (Japan)
This cooperation agreement was signed at the presence of Prime Minister Nguyen Xuan Phuc, aiming to build the most modern smart city in Southeast Asia, in the north of Hanoi, belonging to the planning project in Nhat Tan - Noi Bai route. In particular, BRG Group is the employer to make detailed planning 1/500 for the whole area of 2,080 ha along Nhat Tan - Noi Bai route.
President cum CEO of Sumitomo Group, Mr. Kuniharu Nakamura, confirmed that the group determined that this was a big project and was calling for many prestigious partners specialized in science and technology. The project will include modern transport systems with the latest technology.
Ms. Nguyen Thi Nga, President of BRG Group reported to the Chairman of Hanoi People's Committee on the smart city project with a total investment of 4.138 billion dollars on an area of 272 hectares. The project consists of 5 phases, 5 joint-venture models for the development of each stage. In phase 1, the joint venture Sumitomo - BRG will invest over USD 1 billion on an area of 73.11 hectares. In this phase, the infrastructure will be synchronously invested, connecting the whole project. This smart city will have the core of the railway station No. 2, starting from Tran Hung Dao Street.
The project has a detailed 1/500 plan, and after reviewing, the Nikken Sekkei consultant is adjusting the detailed planning of Phase 1. Ms. Nga said that in December, Sumitomo - BRG will submit the revised plan as well as the whole 5 phases of the project to the City People's Committee to consider and approve the investment policy. The smart city project is expected to start in Quarter 1, 2018.
Chairman Nguyen Duc Chung said that Hanoi will support and create favorable conditions for the project to be implemented soon and to believe that Sumitomo - BRG with prestige and effective investment history shall implement the commitment exactly. The chairman also expects Sumitomo to attract investment from small and medium-sized Japanese high technology companies to the capital.
On 2016, Vietnamese leading private group in finance, banking and golf resorts BRG Group has established a strategic relationship with Japan’s Sumitomo Corporation to increase to collaborate in potential business sectors, especially the real estate and retail.
Established in 1993, BRG is an conglomerate, providing services in many areas, including real estate, hospitality, entertainment, golf courses, trade, retail, production, and construction. In real estate, BRG has developed projects in most major cities in Vietnam, with a focus on commercial buildings with the BRG Commercial brand, apartments with BRG Homes, apartments for rent with BRG Suites, and hotels and resorts with the BRG Hospitality brand.
With many projects invested basically, the group has confirmed its position through expansion of business activities and increasing to co-operate with domestic and foreign partners. The group targets to build a sustainable development, matching regional and international levels.
Meanwhile, Sumitomo is one of the largest trading and investment companies in Japan engaged in multifaceted business activities through a network of 132 locations in 67 countries worldwide with total 70,000 employees.