Takashimaya Group's Toshin Development Signs Joint Venture Agreement with Vietnam's Bcons to Enter Residential Projects in Ho Chi Minh City

Toshin Development Co., Ltd., a consolidated subsidiary of Takashimaya Co., Ltd., has announced a joint venture agreement with Bcons Construction Investment Joint Stock Company, a leader in residential development in the northern Ho Chi Minh City area, and Mercuria (Thailand) Co., Ltd., a group company of Mercuria Holdings Co., Ltd. The partnership will focus on two residential projects located in the extension area of Ho Chi Minh City Metro Line 1. Under this agreement, the three companies will conduct joint research, investment, and development. Toshin Development will leverage its expertise in commercial development and urban planning to enhance the value of the projects through the Takashimaya brand. Bcons will utilize its strong market foundation to expand high-quality housing, while Mercuria will provide asset management expertise to support project execution. The Takashimaya Group views Vietnam as its primary growth driver, actively investing in non-commercial sectors such as offices and residential properties. The two projects are expected to feature approximately 1,000 and 1,250 units respectively, with completion slated for 2028. The companies plan to explore Transit-Oriented Development (TOD) models to meet diverse housing needs.