Japan’s JUTEC seeks Vietnam expansion by teaming up with a local real estate firm

Bich Phuong Wednesday | 05/27/2020 17:29

Illustrative photo (Source: tapchitaichinh.vn)

Japanese building product distributor JUTEC Holdings Corporation is seeking to team up with a Vietnamese firm to establish a housing services joint venture in Vietnam.

The new company, in which JUTEC will hold 50 percent, will offer apartment management and operations services following Japanese standards, to bring the best experience possible to foreigners working and living in Vietnam.

It will also import modern Japanese construction materials for distribution in the Vietnamese 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.

It had 778 employees as of April, with capital of 850 million Yen ($7.9 million).

The company first entered the Vietnamese market back in 2015 when it established a representative office locally.

Source: VietnamPlus, VOV