Tokyo's Garden City Dream Expands in Vietnam

A major Japanese real estate developer is expanding its large-scale "garden city" project in Vietnam. Tokyu Corporation will begin selling new homes in the second phase of its project in Ho Chi Minh City this October. The project, a joint venture with Vietnamese partners, aims to create a complete, modern township. The first phase, which began in 2016, is nearly 90% sold. It includes over 4,300 apartments, a school, a hospital, and commercial areas. The new phase will add approximately 1,800 more residential units. Tokyu reports strong interest from both local and Japanese buyers. The company sees long-term growth potential in Vietnam's economy and rising demand for quality housing. This expansion highlights continued foreign investment in Vietnam's real estate market. Developers are focusing on large, integrated projects that offer residents work, life, and services in one location.