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5 of 9 delivered
Nam Long Group (NLG) – JV with Nishi-Nippon Railroad (Japan) & TBS Group (Japan)
5 of 9 sub-zones delivered · 4 upcoming 2027–2028
355-hectare Japanese-partnered riverside township at 50-70% of comparable HCMC satellite city prices, with 70% green/water coverage, Dutch-engineered flood protection, and southern Vietnam's largest bilingual school on-site.
355-hectare integrated township on a peninsula with 5.8 km of Vam Co Dong River frontage in Ben Luc, Tay Ninh province (part of Long An province until the July 2025 provincial merger). JV between Nam Long (50%), Nishi-Nippon Railroad (30%), and TBS Group (10%). Master-planned by Conybeare Morrison (Australia) with flood engineering by Royal HaskoningDHV (Netherlands). Over 70% green/water coverage. Phase 1 (165 ha) largely delivered; Phase 2 (190 ha) launching 2025-2030. The most price-competitive large-scale township around HCMC — roughly 50-70% of comparable products at Aquacity or Swanbay.
Balanced for both homeowners and investors.
Waterpoint is a low-density, green, school-anchored riverside township priced at about 41M/m² (roughly 17% above a thin value-segment peer set) with flood engineering few satellite towns match. The binding trade-off is drive-only access through the single TL830 road while Ring Road 3 and the Ben Luc–Long Thanh Expressway still await confirmed opening, alongside a thin daily-retail layer, low occupancy and partly issued pink books.
Homeowner: A reasonable choice for homeowners who want space, green surroundings and an on-site school more than a short commute. The township is low-density with over 70% green and water coverage, the EMASI Plus campus and Central Park are on-site, and elevated foundations with a Dutch-designed drainage system address flood risk. The trade-offs are drive-only access through a single road, a thin daily-retail layer until the planned Aeon Mall Ben Luc arrives, and pink books that are only partly issued.
Investor: The investment case is a patient, catalyst-dependent one rather than a yield play. Resale snapshots exist across several sub-zones and pricing is below Aquacity and Swanbay-type comparables, but listed rents imply gross yields of roughly 2-3%, the tenant pool is narrow and occupancy is still low. Ring Road 3 and the Ben Luc-Long Thanh Expressway are close to opening but not confirmed, and borrowing costs of 12-15% limit the buyer pool at exit.
| Market range | 20 triệu – 78,1 triệu/m² |
| Unit price | 1,15 tỷ – 70 tỷ |
| Rent | 3 triệu – 24 triệu/mo |
| Launch price | 26,5 triệu/m² |
| Project | Price | Distance |
|---|---|---|
| Waterpoint | 41 triệu/m² | — |
| Aquacity | Reported to be roughly 30–50% more expensive for comparable product | Larger Dong Nai-side satellite township; Waterpoint offers a lower entry price and a Japanese JV partner |
| Swanbay | Reported to be roughly 30–50% more expensive for comparable product | Competing Dong Nai-side township closer to the Long Thanh corridor; Waterpoint sits on the HCMC side |
Resale snapshots exist across several sub-zones around the 41M/m² project level, but they are sparse and no recent price movement can be read from them.
| Developer | Nam Long Group (NLG) – JV with Nishi-Nippon Railroad (Japan) & TBS Group (Japan) |
| Status | 5 of 9 delivered |
| Completion | 2030 |
| Total Units | 4500 |
| Towers | 11 |
| Launch Date | 2019-09 |
| Handover | 2022 |
| Construction Permit | Approved |
| Pink Book | Partial |
| Pink Book % | 65% |
| Legal Notes | Pink books issued for Rivera 1, Aquaria 1, and all 7 EHome Southgate blocks. The Aqua handover began Q3 2025 with pink books being processed through the provincial land registry (Ben Luc, formerly Long An, has been part of Tay Ninh province since July 1, 2025); no public confirmation of issuance found in the October 2026 search, so buyers should verify status with the registry. Park Village (handover targeted Q4 2026), Solaria Rise (handover 2027) and The Pearl (handover Q4 2028) pink books are pending delivery. Rivera Nagomi (Rivera 1C), launched September 2026, is pre-handover. Long-term ownership for Vietnamese nationals is unaffected by the provincial merger. Nam Long (HSX:NLG) is the developer, with Nishi-Nippon Railroad (30%) and TBS Group (10%) as Japanese partners. Corporate items (June 2026 SSC fine of 92.5M VND for late bond-code registration; July 2026 General Director transition) are not reported to affect Waterpoint land title or delivery. |
Waterpoint
| CBD (peak) | 66 min |
| CBD (off-peak) | 61 min |
| Airport (peak) | 62 min |
| Airport (off-peak) | 60 min |
| Long Thành (peak) | 90 min |
| Long Thành (off-peak) | 91 min |
A mix of young HCMC families seeking affordable space, Japanese expats working in the Ben Luc industrial zones, and long-term investors. The community is still forming as occupancy rises, and the EMASI Plus campus anchors the family segment.
