Recently, Phu My Hung Corporation announced a strategic partnership with Nomura Real Estate Vietnam Co., Ltd. to jointly develop the Hong Hac City urban area in Bac Ninh.
Under this agreement, both companies will co-invest in Hong Hac City, a project spanning nearly 198 hectares with a total investment of approximately $1.1 billion (equivalent to 27,000 billion VND).
This is not the first collaboration between Phu My Hung and Nomura Real Estate in Vietnam. Previously, they partnered to develop the Midtown complex in Phu My Hung urban area (Ho Chi Minh City), where prices currently range from 100 to 140 million VND per square meter.
In recent times, Nomura Real Estate Development has been quietly expanding its presence in Vietnam through a series of projects, including Ecopark (Hung Yen), Vinhomes Grand Park (Ho Chi Minh City), Vinhomes Royal Island (Hai Phong), and most recently, Hong Hac City (Bac Ninh).
One of Nomura’s standout projects in Vietnam is Swanlake Residences – The Onsen, part of the Ecopark urban area. This is the first integrated health-focused apartment complex with Japanese-style hot spring mineral water in Vietnam, developed in collaboration with Ecopark Group.
In Ho Chi Minh City, Nomura is a key international partner in the Vinhomes Grand Park – The Origami project, a mega urban area covering over 270 hectares in Thu Duc City. In phases 2 and 3 of the project, Nomura and Vinhomes are developing nearly 20,000 apartments, incorporating Japanese design and urban planning standards.
From June 2024, Nomura Real Estate will continue its role as co-developer for several subdivisions within Vinhomes’ Royal Island project. Specifically, Nomura is responsible for approximately 3,000 products in the villa, townhouse, and semi-detached house segments.
Nomura’s role extends beyond investment, encompassing design, planning, and product development management. Notably, Royal Island is one of Vinhomes’ flagship projects, significantly contributing to its sales.
Established in 1957, Nomura Real Estate Development Co., Ltd. initially operated as a real estate subsidiary of Nomura Securities. In its early years, the company focused on office building management, leasing, and operations. In 1959, it expanded into real estate brokerage services. By 1961, Nomura Real Estate began residential land development.
In the early 1960s, the company ventured into apartment development. Over the following decades, Nomura expanded its activities to include detached housing, property valuation, commercial development, and office spaces.
In 2004, Nomura Real Estate Holdings, Inc. was officially established, overseeing the entire ecosystem of member companies in real estate, asset management, logistics, and international investment.
Over more than six decades, Nomura has grown into one of Japan’s four largest real estate conglomerates, with a diverse portfolio ranging from residential properties, luxury apartments, and office buildings to shopping centers, logistics facilities, and asset management services.
In the residential sector, Nomura Real Estate focuses on constructing, selling, and managing single-family homes, urban and rural apartments, particularly catering to the elderly. It also offers residential services such as apartment management, home renovations, and interior design.
Recognizing the surging real estate demand in Asia due to urbanization and economic growth, Nomura has expanded its investments across countries like Thailand, Vietnam, the Philippines, China, the UK, and the US. Notably, in March 2025, the company announced a partnership with Legal & General (UK) to develop over 1,000 rental apartments in South London and other areas over the next five years, marking Nomura’s entry into the UK rental market.
Additionally, Nomura is renowned for pioneering sustainable and green real estate development. Its Mori wo Tsunagu Tokyo project is certified as a biodiversity conservation forest under the SGEC/PEFC standards, exemplifying its vision of “development in harmony with nature.”
Regarding financial performance, according to Nomura Real Estate Holdings’ website, in the fiscal year ending March 31, 2025, consolidated revenue reached nearly 758 billion Yen, a 3% increase from the previous year. Operating profit stood at over 125 billion Yen, up 10% year-on-year.
For the fiscal year ending March 31, 2026, the Group forecasts operating revenue of 940 billion Yen and operating profit of 135 billion Yen.
Projections indicate that operating profit, income from operations, ordinary profit, and profit attributable to the parent company’s shareholders will reach record highs compared to the fiscal year ending March 2025.
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