Nomura ventures into large-scale township project in the north
By Quynh Chi
November 09, 2020 | 10:59 AM GMT+7
Nomura Real Estate Development Co., Ltd. has agreed to participate in a condominium housing project within the Ecopark, a large-scale development project undertaken by local developer Ecopark Corporation in Hung Yen province.
Ecopark has been known as the green city
The Japanese developer is expected to build 3,000 apartments on a total floor area of 300,000 square metres once construction is completed in 2024-2025.
Participating from the early project stages, Nomura will be involved in the project from forming of the concept, all design processes, and quality management. The size of this investment has not been revealed yet.
The Ecopark project development is underway under the concept of a greentownship featuring a natural environment rich in greenery andwaterfront. Also promoting measures for a smart city with developmentof a bus application system and a self-driving car system underwayjointly with the group company Ecotek.
This will be Nomura’s first project participation in the north of Vietnam. In 2015, Nomura participated in the Phu My Hung project and has since been engaging in condominium housing projects and office building projects in the Ho Chi Minh City.
The Nomura Real Estate Group has positioned its overseas business as a growth field in itsnew mid-to-long-term business plan, and it plans to investapproximately $2.7 billion in overseas projects by the business term ending March 2028.
Furthermore, by end of that term, with the aim of increasing its profit ratio to 15-20% overall, Nomura will continue actively expanding its overseas business by developing projects in new countries and growing its business in markets that it has already entered, such as Vietnam, the Philippines, Thailand and China.
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