Hanoi (VNS/VNA) – Japan’s Nomura Real Estate Development Company Limitedhas agreed to participate in a condominium housing project within the Ecoparkproject, a large-scale development undertaken by Ecopark Corporation JointStock Company in the northern province of Hung Yen.

Ecopark Corporation is a local developer that has been engaging in theongoing Ecopark project for over a decade and boasts one of the highestlevels of brand power in the area. The Ecopark project covers approximately 500hectares, making it one of the largest township developments in Vietnam, andfeatures residential, office, retail, school, park, and other urban functionscombined with abundant natural spaces spanning over 100 hectares of greeneryand waterfront.

The project is located in phase 2 of the Ecopark urban area, with a scale of upto 3,000 apartments. It is expected to be completed and handed over in 2024-25.

In Vietnam, Nomura joined the Phu My Hung project in 2015, and has sincebeen engaging in condominium housing and office building projects in HCM City.This will be Nomura’s first project in the capital city.

Centred on a partnership between the two companies, Nomura will contributeto further enhancing the Ecopark project’s added value while engaging in theproject from the planning and design stages by utilising the housing businessinsight cultivated in Japan, as well as its track record andexpertise in Vietnam.

The Nomura Real Estate Group has positioned its overseas business as a growthfield in its new mid- to long-term business plan (effective until March 2028),and it plans to invest approximately 300 billion yen in overseas projects byMarch 2028. Furthermore, by the end of that term, with the aim of increasingits profit ratio to 15-20 per cent overall, Nomura will continue to actively expand itsoverseas business by developing projects in new countries and growing itsbusiness in markets that it has already entered, such as Vietnam, thePhilippines, Thailand and China.

This is not the first time that Ecopark Group has chosen to co-operate withJapanese enterprises investing in urban areas. Waseda Academy of Medicine Japanalso selected Ecopark as the site of the Tokyo Health Science University Vietnam.

Located at the southeast gateway of Hanoi, Ecopark is one of the firstsuccessful ecological megacities in the country. Ecopark has a full range ofreal estate products, from modern high-end apartments, to commercial townhouses and upscale villas.

The developer plans to launch the Solforest project, developed under thevertical forest model, on the market. Solforest is a 41-storey greentower over 150 metres high, with more than 400 tropical gardens. Whencompleted, Solforest will be one of the tallest green towers in the world./.