Mitsubishi Estate, Nomura Real Estate Join Luxury Condo Development in Hanoi, Vietnam
Mitsubishi Estate, Nomura Real Estate Development and Singapore-based major real estate developer CapitaLand Development will participate in Maison Privée, a luxury condominium development project in Hanoi, Vietnam. The project is located within Ciputra, an upscale residential district in the city, with construction scheduled to begin in the third quarter of 2026 and completion planned for the first quarter of 2029. It will be the three companies’ second joint project in Vietnam, following The Senique Hanoi in eastern Hanoi, and is expected to generate total sales of approximately $450 million, or about JPY 67.5 billion.
The property will consist of two 35-story towers with three basement levels, comprising 490 units with exclusive-use areas ranging from 98 square meters (approx. 1,055 sq. ft.) to 400 square meters (approx. 4,306 sq. ft.). The project site is located about 15 minutes by car from the city’s Midtown area and about 20 minutes from Noi Bai International Airport. A metro station is also planned in the area, providing strong convenience for residents.
Mitsubishi Estate first entered Vietnam in 2010, and established a local subsidiary in Ho Chi Minh City in 2019 and a Hanoi branch in 2020. The company has been advancing office and condominium development projects and has invested about JPY 100 billion in Vietnam to date. Through this project, Mitsubishi Estate aims to further expand its business in the country.
Nomura Real Estate Development entered the Vietnam market in 2015 and has participated in 12 residential and office projects, including more than 30,000 housing units in total. This project will be the highest-priced high-rise condominium development in which the company has participated in Vietnam. The company has also decided to participate in Celesta Gold, a 420-unit condominium project in southern Ho Chi Minh City, and is moving forward with residential development in both Hanoi and Ho Chi Minh City.
In the nearby Starlake district, Toshin Development, a Takashimaya Group company, has started construction on Westlake Square Hanoi, a mixed-use building where Takashimaya is expected to open its first Hanoi location.（see related article:Toshin Development Breaks Ground on Westlake Square Hanoi, Takashimaya’s First Store in Vietnam） In Ho Chi Minh City, Tokyu Land and its partners are planning to develop more than 2,600 condominium units, as Japanese companies continue to advance development projects in Vietnam.（see related article:TOKYU LAND CORPORATION to Develop For-Sale Residential Project With More Than 2,600 Units in Ho Chi Minh City）
Key Facts
- Property Name: Maison Privée
- Business Operators: Mitsubishi Estate Co., Ltd.; Nomura Real Estate Development Co., Ltd.; CapitaLand Development
- Location: Tay Ho District, Hanoi, Vietnam
- Site Area: Approximately 0.8 hectares
- Number of Floors: 35F / B3 (two-tower configuration)
- Total Units: 490
- Exclusive-Use Area: 98 square meters (approx. 1,055 sq. ft.) to 400 square meters (approx. 4,306 sq. ft.)
- Construction Start: Third quarter of 2026 (July to September)
- Completion: First quarter of 2029 (January to March)