NLG is listed on the HCMC Stock Exchange since 2013 and has a market capitalization of ~US$971 million as of November 2021. With a mission to develop affordable housing for the majority of Vietnamese, Mr. Nguyen Xuan Quang founded the Company in 1992 as one of the first non-state-owned enterprises in the real estate sector in Vietnam. After 29 years of development, Company today operates across the full value chain of real estate development.

NLG has a diversified shareholder base. As of January 2021, Mr. Nguyen Xuan Quang and his relatives collectively own 17.7% of the shares as the largest shareholder. The other shareholders, including a Singapore-based real estate developer and public investors, own the rest of Company shares.

Total Project cost is estimated at US$ 411 million. The proposed IFC investment is a corporate bond of up to VND 1 trillion (approximately US$44 million equivalent).

The 190-hectare Project (Waterpoint Phase II) will be located in Long An, around 30km southwest of HCMC, Vietnam.

The Company has established long-term relationships with a number of strategic investors, including professional real estate developers and private entity firms who have helped to promote adherence of corporate governance with international standards.

   This is a Category B project according to IFC’s Policy on Social and Environmental Sustainability as adverse E&S risks and impacts arising from the project are limited, generally site specific and can be addressed through implementation of Good International Industry Practice (GIIP). Key E&S risk and issues identified during appraisal include: effectiveness of E&S management system for the project’s construction and operational activities including oversight of contractor activities; land acquisition and involuntary resettlement of local communities related to the project footprint; labor and working conditions including occupational health and safety; and emergency preparedness and response including that for COVID-19 pandemic.