Nomura Real Estate Holdings Joins 420-Unit Celesta Gold Condominium Project in Southern Ho Chi Minh City
TOKYO, May 26, 2026 — Nomura Real Estate Development Co., Ltd., a subsidiary of Nomura Real Estate Holdings, has announced it will participate in the "Celesta Gold" condominium project in southern Ho Chi Minh City, Vietnam, alongside Singapore-headquartered global asset manager and operator Keppel. The announcement marks the first collaborative real estate development between the two firms.
The project will comprise 420 condominium units and is situated in a location described by the company as offering strong access to both southern Ho Chi Minh City and the city's central business district, approximately seven kilometers away.
Key Points of the Celesta Gold Real Estate Development
Nomura Real Estate Holdings identified three key points in its release regarding the Celesta Gold project. First, the deal represents the inaugural collaboration between Nomura Real Estate Group and Keppel, which is headquartered in Singapore. Second, the project is intended to expand Nomura's condominium business in Ho Chi Minh City at a time the firm describes as one of accelerating infrastructure development and rising housing demand. Third, the 420-unit project is positioned in what the company characterizes as a prime location with excellent access to southern Ho Chi Minh City and the CBD.
Nomura Real Estate Development is headquartered in Minato-ku, Tokyo, and is led by President and Representative Director Daisaku Matsuo, according to the announcement.
Project Location
The Celesta Gold project is located in southern Ho Chi Minh City, approximately seven kilometers from the CBD, according to the company's announcement. Nomura Real Estate Holdings cited "accelerating infrastructure development" in the area as a factor supporting the project's rationale, alongside what the firm described as rising housing demand in Ho Chi Minh City.
Deal Structure and Disclosures
Nomura Real Estate Holdings did not disclose financial terms associated with its participation in the Celesta Gold project, including investment size, ownership stake, or projected sales pricing. The project is structured as a for-sale condominium development. No loan details, cap rate, or per-unit pricing information was included in the company's announcement.