Grand Park Project 3rd Phase: Launch of the Final Residential Block Sales

Nomura Real Estate Development Co., Ltd. (Head office: Shinjuku-ku, Tokyo; President and Representative Director: Daisaku Matsuo; hereinafter the “Company”) is pleased to announce its participation in the third phase of the Grand Park Project (Land area: 87,817 m2; use: condominium residences; number of units: 9,674; hereinafter the “GP Project”) in Ho Chi Minh City, Vietnam and the sales launch of the phase’s final block. It is large-scale township development project which is led by Vinhomes Joint Stock Company (Head office: Hanoi City, Vietnam; Chairperson: Pham Thieu Hoa; hereinafter “VH”), the largest real estate developer in Vietnam, in partnership with Mitsubishi Corporation (Head office: Chiyoda-ku, Tokyo; Representative Director, President, and Chief Executive Officer: Katsuya Nakanishi; hereinafter “MC”). This is the Company’s second participation in the GP Project, following the second phase announced in 2020.

• Key points in this release
  1. The GP Project, a large-scale township development project with a total land area of 271 ha in Ho Chi Minh City, is underway.
  2. This is the Company’s second participation in the GP Project, following the second phase with a total of 10,946 residential units.
  3. The sales of the final block in the third phase (total units: 9,674) launched in early July 2023.

1. GP Project

The GP Project is a township development project initiated by VH with a total land area of 271 ha, all of which is scheduled to be completed in 2026. It aims to develop urban functions, such as offices, residences, sports and commercial facilities, schools, hospitals, and parks, thereby creating a new town with a residential population of approximately 200,000 people. It is located in an area with excellent transportation access, approximately 20 km directly from the center of Ho Chi Minh City, and a well-developed road network including the Long Thanh Highway, Hanoi Highway and Ring Road 3. In addition, large-scale high-tech parks and industrial parks are located in the vicinity of the area, and an increasing number of companies are moving to the area through proactive attraction of enterprises. Therefore, the area is expected to continue experiencing strong demand for housing along with the increase in population. Since the handover of the first phase started in 2021, the township develops smoothly with residents moving in and shops opening. Regarding the second phase in which the Company participates, handover of residential units began in February 2022.

2. The third phase of the GP Project

The third phase of the GP Project, following the second phase, is also a residential project. It has a prime location for residences, surrounded by Vincom Mega Mall, a large commercial facility developed by the Vingroup, an artificial beach, and a large-scale park.

Taking advantage of the excellent location, the Company is committed to provide product with high quality and elegancy. The Company contributed to the product planning stage with proposals for exterior design, etc.

3. The Company’s future strategies

The Company has positioned the overseas business as one of the growth areas in its Mid-to Long-Term
Business Plan, which the company targets to invest approximately 550 billion Yen in overseas projects
and to increase the share of profits from overseas business in overall business profits to 15% or more by
the end of FY2031/3 (April 2030 through March 2031).
In Vietnam, the Company is currently engaged in six projects, including residential and office projects in
Ho Chi Minh and Hanoi areas. Including two potential projects, the total number of residential units
participated is 28,000 (the Company’s share:11,292 units), which is the largest among the Company’s
overseas business. The Company will continue to position Vietnam as one of its strategic countries and
strive to provide added value to its customers and local communities through developing residential and
office businesses in each area.

• Overview of the third development phase of the Grand Park Project

• Ho Chi Minh City map