JUTEC Corporation of Japan is planning to co-operate alongside a Vietnamese partner as they seek to set up a joint venture, with JUTEC set to contribute 50% to expand its business operation in the local real estate market.
The joint venture is expected to offer management and operation services for apartments that fall in line with Japanese standards in order to provide the best possible experience for foreign customers who are currently living and working in Vietnam.
Moreover, the JV will see a wave of imports through the added supply of new Japanese construction materials to be used in the Vietnamese market.
Originally established in 1923, JUTEC is an enterprise that specialises in offering high quality equipment and building materials to be used in civil and housing projects in the Far East country.
The company first entered the Vietnamese market back in 2015 when it established a representative office locally.
Since entering the domestic market, JUTEC has largely focused on studying various markets and seeking new investment opportunities. In anticipation of the increasing demand for serviced apartments among foreign experts and the demand for new construction materials domestically, it has decided to establish a new joint venture in the country.