Nomura Real Estate Development Co., Ltd. (“Nomura Real Estate”, Head office: Shinjuku-ku, Tokyo; President and Representative Director: Daisaku Matsuo) and Phu My Hung Development Corporation (“Phu My Hung”) have jointly launched the “Hong Hac City Project” (“the township”) in Bac Ninh, one of the leading industrial zones of Vietnam adjacent to Ho Chi Minh City.
Since 2015, Nomura and Phu My Hung have maintained and strengthened a stable cooperative relationship through Vietnam’s rapid economic growth. With the aim of further deepening and forging this partnership, we are now embarking on a new, large-scale, long-term development project that will span more than 10 years.
*1 Comparison of total project costs in Vietnam-based projects of Nomura
*2 1 USD = 144.02 JPY (as of May 31, 2025)
1. Significance of Nomura’s Engagement in This Township
This township represents a landmark for both Nomura and Phu My Hung, with Nomura’s recognized development capabilities forged through continuous value creation in Japan, Vietnam, and across Southeast Asia, and Phu My Hung’s outstanding track record with over 30 years of township development in Ho Chi Minh City. By leveraging the expertise of both companies, this project aims to deliver an appealing and sustainable township, with a total project cost of approximately 285 billion yen, marking the largest project in Nomura’s Vietnam portfolio.
The township site is located in Bac Ninh Province, a major hub for high-tech industries. Situated approximately 20km from central Hanoi and close to National Route 17, which links key industrial zones with Hanoi, the site serves as a vital gateway to the eastern part of the capital.
In the rapidly expanding Hanoi metropolitan area, where further population growth and development are expected, Nomura aims to create a high-value community and new lifestyle for residents by comprehensively developing approximately 2,850 low-rise homes, along with parks, a clubhouse, schools, hospitals, and commercial facilities in this prime location.
Participating in this long-term project for over 10 years, we aim to solidify our profit structure in Vietnam, adding long-term/stable-profit projects to existing short-term/high-efficiency projects that Nomura has achieved.
Furthermore, by building an integrated system for housing development and sales in Vietnam, Nomura will realize a product improvement cycle that swiftly and continuously adapts to customer needs. Through these efforts, we aim to establish our unrivaled position in the Vietnamese market as well.
2. Features of the Township
The township is planned to offer approximately 2,850 residential units of detached houses (villas) as well as a variety of housing types such as semi-detached villas and townhouses.
By adopting Nomura’s proposed township development concept, “Gathering Nest to Enjoy Life With Seasons,” the project aims to create external spaces that allow residents to experience the four distinct seasons of northern Vietnam, as well as enjoy lush greenery and waterfront areas. Approximately 20% of the entire township will be dedicated to green spaces, ensuring that this conveniently located area provides a nature-rich environment and spaciousness.
The project is planned to offer residential lots ranging from approximately 110㎡ to 380㎡, providing spacious homes with a sense of grandeur. Nomura’s expertise in high-quality development will be seen in a grand entrance and façade, embodying the exceptional value of the township.
The project will have three ZONEs for planning and sales. ZONE1 will feature a French Classic style, while ZONE2 and ZONE3 will adopt different architectural styles. While ensuring a cohesive streetscape, each ZONE will showcase its unique character.
Drawing Nomura’s proven expertise in township development in Vietnam, we are committed to thoughtful planning and shaping a vibrant community that will be treasured for generations.
3. Customer Feedback
On June 14, 2025, we held the first-ever reservation-only sales launch event for this township, attracting over 300 visitors. The project, jointly developed by Nomura and Phu My Hung, received extremely positive feedback from attendees. The application rate for the first phase reached approximately 80%, with over 100 applications submitted.
This successful event marks the beginning of a large-scale township project spanning more than ten years. We will continue to proceed with sales and development in phases going forward.
4. Awards in Vietnam and Future Business Development in Vietnam
In 2019, Nomura established our local subsidiary, NOMURA REAL ESTATE VIETNAM CO., LTD. (“Nomura Real Estate Vietnam”), and has since participated in a total of 10 residential and office projects, comprising over 30,000 residential units, primarily in the Ho Chi Minh and Hanoi areas. This represents our largest overseas business presence to date. Leveraging the expertise in Japan, Nomura aims to enhance the value of a project and contribute to the development of the local real estate market.
Since December 2024, Nomura Real Estate Vietnam has been recognized with multiple awards, including “Excellent FDI Enterprise 2024 Top 10,” which selects outstanding FDI*3 companies, “Top 5 ASEAN Strong Brands” presented by the Ministry of Education and Training of Vietnam, and “Top 10 Asia Pacific Brands” awarded by a local media organization. These milestones have further strengthened our brand recognition within Vietnam.
*3 FDI: Foreign Direct Investment
| Date | Award | Organizer | |
| 1 | December 2024 | Excellent FDI enterprise 2024 | Institute of Science for Economic and Cultural Human Resource Development |
| 2 | April 2024 | Top 5 ASEAN Strong Brands | Ministry of Science and Technology of Vietnam, Asia-Pacific Economic Magazine, etc. |
| 3 | April 2024 | Top 10 Asia Pacific Brands | Editorial Board of Asia-Pacific Economic Magazine Cooperates, etc. |
Overview of Our Business in Vietnam (Including Upcoming Projects)
| Area | Purpose | Project | Total Units | Completion | |
| 1 | Ho Chi Minh | Residential | Phu My Hung Midtown | 2,439 | 2019~ |
| 2 | Ho Chi Minh | Residential | Vinhomes Grand Park Phase 2 | 10,926 | 2022~ |
| 3 | Ho Chi Minh | Residential | Vinhomes Grand Park Phase 3 | 9,674 | 2023~ |
| 4 | Hanoi | Residential | Ecopark | 2,841 | 2023~ |
| 5 | Hai Phong | Residential | Royal Island (Vu Yen) Phase 1 | 1,550 | 2024~ |
| 6 | Hai Phong | Residential | Royal Island (Vu Yen) Phase 2 | 1,412 | 2025~ |
| 7 | Hanoi | Residential | Hong Hac City | 2,844 | 2026~ |
| 8 | Hanoi | Residential | The Senique Hanoi | 2,176 | 2027~ |
| 9 | Ho Chi Minh | Office | Sun Wah Tower | – | 1997 |
| 10 | Ho Chi Minh | Office | ZEN Plaza | – | 1999 |
| Total | 33,862 | ||||
<Nomura Real Estate Vietnam Corporate Website>
In July 2025, Nomura Real Estate Vietnam launched a corporate website to showcase our track record and strengths, and to further enhance brand recognition and understanding among potential partner companies in Vietnam. Please visit the website below for more information.
<Hong Hac City> Project Overview
| Location | Vietnam, Bac Ninh Province |
| Purpose | Residential (Villas, Semi-detached, Townhouses) |
| Total Units | Approx. 2,850 units |
| Planned Development Area | 198 ha |
| Construction Start | Construction and sales to begin June 2025 |
| Developers | Phu My Hung Development Corporation, Nomura Real Estate Co., Ltd. |
Note: the above information is based on current plans and is subject to change.
<About Phu My Hung>
| Company Name | Phu My Hung Development Corporation |
| Headquarters | 23rd floor, Phu My Hung Building, 08 Hoang Van Thai, Tan Phu Ward, District 7, HCMC |
| Website | https://phumyhung.vn/en/ |
| Business Overview | Phu My Hung Development Corporation is a real estate company that began investing in and developing Ho Chi Minh City in 1993. After obtaining development approval in the same year, the company has continued to develop, maintain, and operate infrastructure in District 7 of Ho Chi Minh City. Guided by its corporate philosophy of “Wherever we invest, we ask not what we can take away but what we can leave behind,” Phu My Hung has transformed the area into an international luxury residential district and has contributed to Vietnam for 32 years. |
[References] Nomura Real Estate’s business operations in Vietnam
Vu Yen Project (Royal Island)” (Hai Phong City/Development of approximately 3,000 units/ Participation in 2024)
https://www.nomura-re-hd.co.jp/cfiles/engnews/n2024090200371.pdf
https://www.nomura-re-hd.co.jp/cfiles/engnews/n2024121900382.pdf
“The Senique Hanoi Project” (Hanoi area / Development of approximately 2,150 units/ Participation in 2024)
https://www.nomura-re-hd.co.jp/cfiles/engnews/n2024102200372.pdf
“Ecopark Project” (Hanoi area/ Development of approximately 3,000 units/ Participation in 2020 and 2023)
https://www.nomura-re-hd.co.jp/cfiles/engnews/n2024082900370.pdf
“Grand Park Project” (Ho Chi Minh City/More than total 20,000 units in the 2nd&3rd phases/ Participation in 2020 and 2023)
https://www.nomura-re-hd.co.jp/cfiles/engnews/n2023121100347.pdf
[Reference]
In pursuit of our 2030 Vision, “Be a ‘Life & Time Developer’ as never seen before”, the Nomura Real
Estate Group has announced a new management plan in April 2025. This group-wide initiative reflects our unwavering commitment to maximizing both happiness among people and abundance for society.
＜Overview of the three-year plan＞
*3 The three-year plan is based on our long-term management policy, outlining the key business initiatives and strategies we will focus on.
Note: For details on the management plan, please see the following section.
https://www.nomura-re-hd.co.jp/english/ir/pdf/plan2025_presen_en.pdf