Nomura Real Estate Takes its First Step into Bangkok's Housing Sales Market
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To members of the press
August 24, 2017
Nomura Real Estate Development Co., Ltd.
Three Projects with over 2,000 Residential units
Nomura Real Estate Takes its First Step
into Bangkok’s Housing Sales Market
Nomura Real Estate Development Co., Ltd. (head office: Shinjuku Ward, Tokyo; President
and Representative Director: Seiichi Miyajima; hereinafter “Nomura”) announces that it has
decided to participate in three condominium housing projects in Bangkok, Thailand, in
partnership with a local Thai developer, Origin Property Public Company Ltd. (hereinafter
“Origin”). These projects will represent Nomura’s first involvement in Housing projects in
Bangkok.
The three projects will be located in Ratchayothin (Chatuchak District), Onnut (Phra
Khanong District) and Ramkhamhaeng (Bang Kapi District), all of which are near central
Bangkok. The three locations will be extremely convenient, being within a ten-minute walk to
existing or new stations of the BTS (elevated railway) and MRT (subway). The total number of
residences to be provided by the three projects will exceed 2,000 units.
The Nomura Real Estate Group has positioned overseas business as a growth field in its
medium-term business plan (effective until March 2025). Accordingly, it plans to invest
approximately 300 billion yen in residential projects and commercial projects by the business
term ending in March 2025, the majority of which will target Asian countries where real
estate demand is growing. Thus far, Nomura has agreed to participate in development
projects in Shenyang, China; Ho Chi Minh City, Vietnam; and Manila, the Philippines. It will
now proceed with development projects in collaboration with a local partner that is enjoying
phenomenal growth in Bangkok, Thailand, and looks to utilize its store of know-how in
helping achieve “connect today with tomorrow`s possibilities” in Asian nations that are
expected to see continuing growth.
All illustrations provided above are conceptual drawings
■ Project Outline
Bangkok’s housing market is showing stable long-term growth that is driven by an
expanding population in the middle-income bracket. Strong demand for housing is therefore
expected. At the same time, the housing market is undergoing a shift from “quantity to quality”
in line with the city’s economic growth. The result is an environment in which Nomura’s store
of know-how, built in Japan’s condominium housing sector over many years, should prove high
suitability. In light of such circumstances, Nomura will proceed with the following three
projects.
(1) KNIGHTSBRIDGE PRIME Ratchayothin
Location Chatuchak District, Bangkok, Thailand
Access Phaholyothin 24 Station, BTS Sukhumvit Line
Phaholyothin 24 Station, MRT Yellow Line
Planned walking distance of 1 minutes (scheduled
opening in 2020)
Site area Approx. 7,500 ㎡
Total floor area Approx. 19,200 ㎡
Exclusive area Approx. 9,800 ㎡
Structure (planned) (Ａ) 35 floors,(Ｂ) to be confirmed
No. of units (planned) (Ａ) 334 (Ｂ) to be confirmed
Planned completion (Ａ) June 2020
(2) KNIGHTSBRIDGE PRIME Onnut
Location Phra Khanong District, Bangkok, Thailand
Access 8-minute walk from Onnut Station, BTS
Sukhumvit Line
Site area Approx. 3,800 ㎡
Total floor area Approx. 32,400 ㎡
Exclusive area Approx. 17,000 ㎡
Structure (planned) 47 floors
No. of units (planned) 601
Planned completion September 2020
(3) KNIGHTSBRIDGE Ramkhamhaeng
Location Bang Kapi District, Bangkok, Thailand
Access 2-minute walk from Hua Mak Station, MRT
Orange Line (scheduled opening in 2023)
8-minute walk from Lamsalee Station, MRT
Yellow Line (scheduled opening in 2021)
Site area Approx. 6,400 ㎡
Total floor area Approx. 34,700 ㎡
Exclusive area Approx. 18,600 ㎡
Structure (planned) 25 floors
No. of units (planned) 685
Planned completion September 2020
■ About Origin Property Public Company Ltd.
・ A leading housing developer in Thailand that was established
in 2009. Listed on the Stock Exchange of Thailand.
・ Ranked sixth in condominium sales in Bangkok in 2016
(Origin data)
・ Series of brands “KNIGHTS BRIDGE,” “NOTTING HILL,” and “KENSINGTON.”
・ Currently focused on real estate-related services and plans to expand to commercial real
estate in the future.
・ Recognized as a company that boldly develops new products for an increasingly urbanized
Bangkok.
・ Market capitalization of 77 billion yen (as of June 2017) and sales revenue of 11.4 billion
yen (2016).
(Exchange rate: 1 baht = 3.26 yen)
■ Nomura Real Estate’s Overseas Projects
Nomura Real Estate Group has announced the medium-term business plan ( effective until
March 2025 ) in year 2015, positioning to “actively expand its overseas business taking
advantage of Nomura`s product planning, service knowledge that has been built over the
years in the Japanese market.” In relation to the above, as for the Development field;
■Expand residential and commercial projects in Asian nations with growing
real estate demands expected from economic growth
■Collaborate with leading local partners
■Invest 300 billion yen by the business term ending in March 2025
【medium-term business plan】https://www.nomura-re-hd.co.jp/english/ir/pdf/plan2016_presen_en.pdf
Nomura sets the above three tactics. Nomura will also “expand the investment management
and brokerage business to meet the Cross-border investment demands” as part of Nomura`s
service/management business, and actively absorb the in-bound and out-bound investment
demands through “strengthening the cooperation with Nomura Security Group, whom has
strong relations with number of investors”.
In addition to the projects described in this press release, Nomura is a participant in joint
development projects involving condominium housing in Ho Chi Minh City, Vietnam;
condominium housing in Shenyang, China; and condominium housing and commercial
facilities in Manila, the Philippines.
Project area Ho Chi Minh City, Vietnam
No. of units Approx. 2,300
Completion Planned for 2019
Description Condominium housing
Japanese Daiwa House Industry,
partners Sumitomo Forestry
*Press release issued on September 29, 2015 Conceptual drawing
Project area Manila, Philippines
No. of units Approx. 1,400
Completion Planned for 2025 (four
residential towers)
Description Condominium housing,
commercial facilities
Japanese Isetan Mitsukoshi Holdings
Conceptual drawing
partners
*Press release issued on July 10, 2017
The figures provided under “No. of residences” above refer to the total number of planned residences, not the share belonging to
Nomura Real Estate.
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