Nomura Real Estate Joins "Celesta Gold" Condo Project in Ho Chi Minh City, Vietnam

Nomura Real Estate Development Co., Ltd. has announced its participation in "Celesta Gold," a condominium project located in southern Ho Chi Minh City, Vietnam, alongside partners including Keppel Ltd.

This project marks the first collaboration for the Nomura Real Estate Group with Keppel, a global asset manager and operator, aiming for a long-term partnership. By combining Keppel's extensive expertise in Vietnam and real estate development with Nomura Real Estate's product planning knowledge, the companies aim to provide comfortable and high-quality living environments.

[Market Context] While demand for housing in Ho Chi Minh City is increasing, new supply has remained at a low level in recent years. Rapid infrastructure development, including the opening of Metro Line 1, the upcoming construction of Line 2, and the planned opening of Long Thanh International Airport, is expected to drive further urbanization and market growth.

[Property Overview] The property is located about 7km from the Central Business District (CBD) and approximately 2km from the Phu My Hung area, offering excellent access. The development will consist of two 25-story buildings with residential units ranging from 1 to 4 bedrooms (approx. 50㎡ to 150㎡). Planned shared facilities include a pool, gym, kids' room, party room, workspace, and a golf simulator.

Nomura Real Estate intends to implement its "KAIZEN" approach—analyzing and improving product planning, construction quality, and sales processes—to enhance the project's value. Vietnam remains a key focus country, with plans to continue promoting residential and office businesses centered in Ho Chi Minh City and Hanoi.