Vingroup (VIC)-owned CTCP Vinhomes (VHM) and Nomura Real Estate, a leading Japanese firm, have recently signed a strategic Memorandum of Understanding (MoU) to strengthen their comprehensive partnership. Per the agreement, the two companies will closely collaborate on various projects, including high- and low-rise residential developments, commercial real estate ventures (shopping malls and office buildings), logistics centers, and other key real estate projects.
Notably, Nomura Real Estate plans to boost investments in Vinhomes’ urban areas and related real estate sectors in Vietnam. Mr. Matsuo Daisaku, Chairman, and CEO of Nomura Real Estate, expressed his enthusiasm, stating, “Nomura Real Estate is developing large-scale urban projects in Japan and abroad, and Vietnam is one of our most important markets.”
Investing 10,000 billion VND to acquire a real estate company in Vu Yen from Vingroup
Vu Yen Project.
Prior to this MoU, Nomura acquired an 80% stake in CTCP Phat Trien NVY Vietnam, a secondary investor in the Vinhomes Royal Island project in Vu Yen, in May 2023. NVY Vietnam’s General Director and legal representative transitioned from Ms. Nguyen Mai Hoa to Mr. Nobuaki Higashi, a Japanese national. With a charter capital of 11,684 billion VND, the Japanese partner, NVY Co., Ltd., holds 80% of the shares.
NVY Co., Ltd. is a subsidiary of CTCP Bat Dong San Nomura (Nomura Real Estate Holdings, Inc.). Mr. Nobuaki Higashi also serves as the General Director and legal representative of Cong Ty TNHH Nomura Real Estate Vietnam. The total value of this transaction amounted to 10,000 billion VND.
This is not Nomura’s first real estate investment in Vietnam.
A series of acquisitions in Vietnam
In the Vietnamese market, the Group has swiftly engaged in developing and launching prominent real estate projects, such as the Midtown project by Phu My Hung, Phase 2 of Vinhomes Grand Park, the Sun Wah Tower office building, the Zen Plaza office building, and the Swan Lake Onsen apartment complex.
Currently, Nomura Real Estate is involved in eight residential and office projects in Ho Chi Minh City and Hanoi through a network of companies, including Phu Hung Thai, MV1 Real Estate, and MV Vietnam Real Estate, Zen Plaza, and NVY Vietnam.
As mentioned earlier, CTCP Phat Trien Phu Hung Thai is a joint venture between Phu My Hung and three leading Japanese real estate developers: Daiwa House Group, Nomura Real Estate Group, and Sumitomo Forestry Group. Phu Hung Thai currently owns 100% of the shares of the Phu My Hung Midtown project in District 7, Ho Chi Minh City.
In 2019, Nomura became the sole owner of the Zen Plaza office building in Ho Chi Minh City. Zen Plaza, located on Nguyen Trai Street in District 1, spans approximately 17,000 square meters. The building has been operational for 20 years and has consistently maintained high occupancy rates, with 90% of its tenants being foreign companies, mostly Japanese.
Zen Plaza is the second office building owned by the Japanese group in Ho Chi Minh City. A year earlier, in 2018, Nomura acquired 24% ownership of the Sun Wah Tower, a multi-purpose office building in the heart of the city. Sun Wah Tower was Nomura’s first office building in Asia-Pacific and its third leased building globally.
Additionally, MV1 Real Estate, a legal entity based in Thao Dien, Thu Duc City, Ho Chi Minh City, specializes in real estate. Established in 2020, the company is represented by Kazami Naosuke.
Through its collaboration with Vinhomes, Nomura Real Estate is expanding its partnerships, particularly in the “billionaire island” projects: Vinhomes Royal Island (Vu Yen, Hai Phong) and Vinhomes Grand Park (Thu Duc City, Ho Chi Minh City).
Renowned for the first FDI-invested industrial park in northern Vietnam
Nomura – Hai Phong Industrial Park, now known as Japan – Hai Phong Industrial Park.
In Hai Phong, Nomura is also known for the Nomura-Hai Phong Industrial Park, spanning 153 hectares in An Duong district. Established in December 1994, it was the first industrial park in northern Vietnam with foreign investment, developed by the Nomura Industrial Park Development Company – Hai Phong.
In February 2023, the “Nomura – Hai Phong Industrial Park” was renamed the “Japan – Hai Phong Industrial Park.” Consequently, the Nomura Industrial Park Development Company – Hai Phong also changed its name to the Japan Industrial Park Development Company – Hai Phong.
This adjustment was made due to a request from the involved parties regarding the transfer of capital contribution from the foreign investor, Nomura Asia Investment (Vietnam) Pte. Ltd. Specifically, a Vietnamese enterprise, CTCP Tap doan PC1 (PC1 on the stock exchange), acquired 70% of the shares from the foreign investor and became the largest shareholder, alongside the Hai Phong People’s Committee, which holds 30% of the shares.
Nomura’s Business Performance
Founded in June 2004 in Tokyo, Nomura Real Estate Holdings is one of Japan’s largest and most reputable real estate development companies. According to their website, the Group employs nearly 8,000 people worldwide.
In 2023, the company achieved a revenue of 734.7 billion yen (approximately 119 trillion VND), a 12.2% increase from the previous year. Their profit reached 113.6 billion yen (over 18.4 trillion VND), marking an 8.1% rise and the highest profit level in the last five years.
For 2024, the Group has set a revenue target of 790 billion yen (approximately 127,396 billion VND) and a profit goal of 118 billion yen (approximately 19,029 billion VND).
Nomura’s Financial Statements.
Since 2015, Nomura Real Estate has been expanding its operations into new markets in Southeast Asia, with a particular focus on the most promising markets in the region. As part of this strategy, they established Nomura Real Estate in Hong Kong, China, in 2017. Subsequently, in 2019, they founded Nomura Real Estate Vietnam and Nomura Real Estate Thailand, further solidifying their presence in the region.
