Vietnam's property giant Vinhomes shakes hands with Nomura Real Estate

Vietnam’s leading housing developer Vinhomes and Japan’s Nomura Real Estate Development Co., Ltd have signed an MoU on comprehensive strategic cooperation, aiming to leverage the strengths of both sides to bring international-standard products to the market.

Under the deal, Vinhomes, a subsidiary of private conglomerate Vingroup, and Nomura Real Estate will closely cooperate in development of housing (high-rise and low-rise), commercial real estate (shopping malls, office buildings), and logistics centers, and other related fields.

Following the agreement, the Japanese group will invest in Vinhomes' urban areas nationwide.

With Nomura Real Estate's extensive experience in Japan and internationally, combined with Vinhomes' reputation and deep understanding of the domestic market, this strategic collaboration will bring high-class urban projects to the market, contributing to improving living quality and infrastructure in Vietnam, Vinhome said in a release.

Nomura Real Estate and Vinhomes are expanding their collaboration on real estate development projects at Vinhomes Royal Island in Vu Yen island, the northern city of Hai Phong and Vinhomes Grand Park in Thu Duc city, Ho Chi Minh City.

Matsuo Daisaku, chairman and CEO of Nomura Real Estate, stated that his firm is simultaneously developing large-scale urban projects in Japan and overseas markets, with Vietnam being one of the most important markets.

Starting with the Vinhomes Grand Park project in 2019 and now the Vinhomes Royal Island, the two sides have built a trusted partnership.

“We believe that with this comprehensive cooperation agreement, both sides will leverage their strengths to drive the development of the Vietnamese real estate market,” he stressed.

Nguyen Dieu Linh, vice chairwoman of Vingroup, said: "I believe that with the support of Nomura Real Estate, Vinhomes will continue to launch international-class real estate projects, contributing to improving the quality and living standards for residents in Vinhomes' urban areas, while promoting the sustainable development of the Vietnamese real estate market."

Vinhomes, listed on the Ho Chi Minh Stock Exchange as VHM, is a leading real estate developer in Vietnam. The company currently operates and manages 30 urban projects nationwide and is continuously expanding its presence in rapidly developing cities with economic and tourism advantages.

Meanwhile, Nomura Real Estate is one of the largest real estate corporations in Japan, active in the development of residential and commercial real estate, and property services. The group has also expanded its reach to Asian countries, where the demand for real estate is growing significantly due to economic growth.

Having invested in Vietnam since 2015, Nomura Real Estate is now involved in eight residential and office projects, primarily in Ho Chi Minh City and Hanoi.

VHM shares closed Thursday at VND40,200 ($1.6) apiece.