Japanese realtor Nomura acquires 2nd office building in Vietnam

24, Jul. 2019

HO CHI MINH CITY, NNA - Nomura Real Estate Development Co. has acquired a second office building in Vietnam in a fresh bid to boost its operations in Southeast Asia.

The major Japanese property developer announced the acquisition of full ownership of Zen Plaza in Ho Chi Minh City, which was owned and managed by Zen Plaza Co., for an undisclosed amount.

Zen Plaza, with a floor space of about 17,000 square meters, is located along the posh Nguyen Trai Street in the heart of Vietnam's most populous city. About 90 percent of its tenants are foreign firms, of which 70 percent are Japanese.

The Tokyo-based firm has also acquired an ownership interest in Sun Wah Tower, a business building also in Ho Chi Minh City.

As part of its new mid- to long-term overseas business plan through March 2028, Nomura plans to invest 300 billion yen ($2.78 billion) to further expand operations in Vietnam, Thailand and the Philippines as well as China and Britain. (NNA/Kyodo)