What Nomura Real Estate Development does

Nomura Real Estate Development Co., Ltd. (野村不動産株式会社) is a Tokyo-headquartered comprehensive real estate developer and wholly-owned operating subsidiary of Nomura Real Estate Holdings (TSE: 3231), founded in 1957 as a building construction and management entity spun out of Nomura Securities. The company operates an integrated develop-sell-manage business model spanning residential (PROUD, PROUD SEASON, OHANA condominiums and detached houses), rental housing (PROUD FLAT, TOMORE co-living), senior residences (OUKAS), offices (PMO mid-size premium offices, H1O small service offices, H1T satellite shared offices at 150+ locations), commercial facilities (GEMS dining, MEFULL services, SOCOLA community, KAMEIDO CLOCK), logistics (Landport facilities, Techrum DX platform), and hotels (NOHGA HOTEL, Hotel Niwa Tokyo).

The portfolio is supported by an ecosystem of 17+ wholly-owned operating subsidiaries covering brokerage (Nomura Real Estate Solutions), property management (Nomura Real Estate Partners), hotel operations (Nomura Real Estate Hotels), senior housing (Nomura Real Estate Wellness), sports clubs (Nomura Real Estate Life & Sports), asset management (Nomura Real Estate Investment Advisors, Nomura Real Estate RAIM), and heat supply (Nomura Real Estate Heat Supply). Revenue is generated through a mix of one-time residential property sales (PROUD, OHANA), recurring rental income from owned office, logistics, and senior housing assets, managed services through property management subsidiaries, and asset management fees from REITs and private funds. Geographic operations span Japan (Tokyo headquarters, Osaka, Nagoya, Sendai, Fukuoka regional offices) and international markets including Singapore (regional HQ), Hong Kong, Thailand, Vietnam, the Philippines (via Federal Land NRE Global JV), China, the United Kingdom, and the United States (Plano, Texas).

FY2025 (March 2025) consolidated sales reached ¥757,638 million with operating income of ¥125,104 million, supported by 2,180 employees at the operating company level (March 2026) and a track record of 40+ completed urban redevelopment projects. Recent strategic positioning extends beyond traditional real estate into next-generation mobility (consortium leadership for Tokyo eVTOL implementation with SkyDrive, Joby Aviation, and Japan Airlines; Tokyo Bay eSG floating mobility project with ANA Holdings and Shimizu Corporation), grid-scale energy storage (¥30 billion LLC Libra consortium with IBeeT), and corporate venture investments in vertical farming (Oishii, $150M Series C), space launch (Interstellar Technologies, ¥20.1B Series F), and art platforms (The Chain Museum). The headquarters relocated to the company-developed BLUE FRONT SHIBAURA TOWER S in Minato-ku, Tokyo in August 2025.

Name

Nomura Real Estate Development

Legal name

Nomura Real Estate Development Co., Ltd. (野村不動産株式会社)

Website

https://nomura-re.co.jp

Company type

Public

Founded year

1957

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Nomura Real Estate Development is a Tokyo-headquartered comprehensive Japanese real estate developer (founded 1957) operating an integrated develop-sell-manage model across residential, office, commercial, logistics, and hotel properties under brands like PROUD, PMO, Landport, and NOHGA HOTEL, serving individual homebuyers, corporate tenants, and institutional investors across 8+ countries.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Real Estate Property Managers (53131), Lessors of Real Estate (5311), Offices of Real Estate Agents and Brokers (531210)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531), Operators Of Apartment Buildings (6513), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industries

Multifamily & Student Housing Asset Management (BPAJAMAD), Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG), Corporate & Executive Short-Term Housing Management (BPAJAIAH)

Keywords

• Residential real estate development
• Office building leasing
• Commercial property management
• Logistics facility development
• Senior housing services

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Residential Sales (Condominiums and Detached Houses): Development and sale of new condominiums under the PROUD brand, detached houses under PROUD SEASON, and OHANA suburban condominiums. Revenue recognized upon property transfer to buyers. This is a core revenue driver with manufacture-sale-management integrated operations.
2. Office and Commercial Building Leasing: Leasing of company-owned office buildings including Blue Front Shibaura, Shinjuku Nomura Building, Yokohama Nomura Building, and branded properties (PMO, H1O, H1T). Recurring rental income from tenants with multi-year lease terms.
3. Logistics Facility Development and Leasing: Development and leasing of logistics facilities under the Landport brand, providing multi-tenant and BTS logistics solutions with recurring rental income.
4. Hotel Development and Management: Development and operation of lifestyle hotels (NOHGA HOTEL brand) and traditional Japanese hotels (Niwa no Tsubone). Group subsidiary Nomura Real Estate Hotels operates properties.
5. Senior Housing (Rental): Development and operation of wellness-focused rental senior residences under the OUKAS brand, providing recurring rental income with health and wellness services.
6. Property Management Services: Building management, facility management, and building maintenance services through group subsidiaries including Nomura Real Estate Partners.
7. Real Estate Brokerage and Solutions: Residential and commercial real estate brokerage, insurance agency services, and consulting through Nomura Real Estate Solutions.
8. Asset Management: Investment management and advisory services through Nomura Real Estate Investment Advisors and Nomura Real Estate RAIM, managing REITs and private funds.
9. Urban Redevelopment Projects: Large-scale urban redevelopment projects including public-private partnerships, contributing to revenue through development fees and retained property.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Nomura Real Estate Development is a comprehensive real estate developer that plans, constructs, sells, leases, and manages properties across residential (condominiums, detached houses, rental apartments, senior residences), office, commercial, logistics, and hospitality segments in Japan and overseas. The company operates an integrated development-sales-management value chain supported by a group structure of subsidiaries covering brokerage, property management, asset management, and hotel operations.

Product overview

Nomura Real Estate Development operates as a comprehensive real estate developer offering an integrated portfolio of residential, commercial, office, logistics, and hospitality properties. The company's product ecosystem spans multiple segments: residential offerings include PROUD condominiums, PROUD SEASON detached houses, OHANA suburban condos, PROUD FLAT urban rentals, OUKAS senior residences, and TOMORE co-living spaces; office properties include PMO mid-grade offices, H¹O small-scale service offices, and H¹T satellite shared offices; commercial facilities include GEMS dining complexes, MEFULL service centers, SOCOLA community centers, and KAMEIDO CLOCK large-scale developments; logistics includes Landport facilities and Techrum innovation program. The portfolio is supported by integrated platforms like NOMURA WORK-LIFE PLUS and managed through Be ACTO area management services, with flagship projects like BLUE FRONT SHIBAURA demonstrating the company's mixed-use development capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• PROUD (プラウド): New detached mansion brand emphasizing quality housing with integrated development-sales-management approach
• PROUD SEASON (プラウドシーズン)
• OHANA (オハナ)
• PROUD FLAT (プラウドフラット)
• OUKAS (オウカス)
• TOMORE (トモア)
• NOHGA HOTEL
• 庭のホテル東京 (Hotel Niwa Tokyo)
• PMO
• H1O
• H1T
• GEMS
• MEFULL
• SOCOLA
• Landport
• KAMEIDO CLOCK (カメイドクロック)
• YUITO
• Techrum (テクラム)
• Be ACTO

Products and services

• PROUD (プラウド) New residential condominium brand offering integrated development, sales, and management services for owner-occupier housing in Japan.
• PROUD SEASON (プラウドシーズン)

Quantifiable outcome

• 78.1% paid leave utilization rate (FY2024, group-wide)
• +5 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

15 partnerships are on record, tiered core and minor.

• WpdcoreStrategic or Co-development Partner · 1 June 2026Wpd, a German wind energy company, partnered with Nomura Real Estate through corporate PPA for renewable energy supply. Wpd developed a 7.48MW wind farm in Shizuoka Prefecture, with power contracted to Nomura Real Estate Development. This is Wpd's first completed renewable energy project in Japan and first collaborative project in Asia.
• GPSS GroupminorStrategic or Co-development Partner · 1 June 2026GPSS Group is a Japanese company that partnered with Wpd on the Higashi Izu Furusato Wind Power Plant project as a joint venture partner.
• IBeeT Co., Ltd.minorStrategic or Co-development Partner · 14 April 2026IBeeT Co., Ltd. formed consortium LLC Libra with seven Japanese companies including Nomura Real Estate to develop six grid-scale battery storage facilities with total project cost of approximately 30 billion yen and combined output of approximately 174 MW. Operations scheduled to begin sequentially from FY2027.
• Japan Airlines Co.coreStrategic or Co-development Partner · 6 April 2026Japan Airlines Co. and Nomura Real Estate Development were selected as consortium partners for Tokyo's flying car implementation project. The government aims to permit commercial flying car services as early as 2027-2028.
• Layers ConsultingminorImplementation/ SI/ Consulting Partner · 26 March 2026Layers Consulting participates in Nomura Real Estate's inter-company co-creation program Techrum to fully support logistics reform initiatives through the Techrum open innovation platform.
• The Chain MuseumminorStrategic or Co-development Partner · 25 March 2026The Chain Museum, operator of art communication platform ArtSticker, secured funding from Nomura Real Estate. The funds support product development, marketing, and organizational strengthening for ArtSticker platform serving museums and galleries.
• ANA HoldingscoreStrategic or Co-development Partner · 1 December 2025ANA Holdings participates in the Tokyo Bay eSG Project consortium focused on next-generation mobility including flying cars (eVTOL). Successfully demonstrated helicopter-simulated eVTOL takeoff and landing in December 2025.
• Shimizu CorporationminorStrategic or Co-development Partner · 1 December 2025Shimizu Corporation participates in the Tokyo Bay eSG Project consortium for next-generation mobility and floating port development.
• Aero ToyotaminorStrategic or Co-development Partner · 1 December 2025Aero Toyota participates in the Tokyo Bay eSG Project consortium for next-generation mobility solutions.
• Kidou SystemsminorStrategic or Co-development Partner · 1 December 2025Kidou Systems participates in the Tokyo Bay eSG Project consortium focused on autonomous vessel navigation and mobility systems.
• Eight KnotminorStrategic or Co-development Partner · 1 December 2025Eight Knot participates in the Tokyo Bay eSG Project consortium for next-generation mobility solutions.
• Tokyo Water TaximinorStrategic or Co-development Partner · 1 December 2025Tokyo Water Taxi participates in the Tokyo Bay eSG Project consortium focused on maritime mobility integration.
• SkyDrivecoreStrategic or Co-development Partner · 10 November 2025SkyDrive, a Japanese flying car developer, was selected for Tokyo Metropolitan Government's eVTOL Implementation Project (Phase I) consortium led by Nomura Real Estate Development. The project aims to commercialize urban eVTOL services from 2028.
• Joby AviationcoreStrategic or Co-development Partner · 10 November 2025Joby Aviation, a US-based eVTOL manufacturer, was selected for Tokyo Metropolitan Government's eVTOL Implementation Project (Phase I) consortium led by Nomura Real Estate Development. The project involves feasibility studies and vertiport location development.
• Federal Land NRE Global, Inc.coreStrategic or Co-development Partner · 24 September 2025Federal Land NRE Global is a joint venture between Philippine developer Federal Land, Inc. and Nomura Real Estate Development. The company develops Japanese-inspired smart living projects in the Philippines including The Seasons Residences, Yume at Riverpark, and The Observatory, with completion expected by 2030.

Scale indicators8 records

Recent moves15 records

Expansion highlights7 records

Direct peers

• Mitsubishi Estate: Japan's largest comprehensive real estate developer with overlapping business in office (Marunouchi), residential, commercial, and hotel segments, plus major redevelopment track record (Otemachi, Marunouchi, Yaesu). Direct competitor for premium Tokyo projects and institutional capital.
• Mitsui Fudosan: Comprehensive Japanese developer competing head-to-head in residential (Park Homes), office, retail (Nihonbashi, Ginza), hotels, and logistics, with similar brand-led strategy and comparable international expansion footprint.
• Sumitomo Realty & Development: Diversified Japanese real estate developer with condominium (City Towers), office leasing, and commercial operations directly comparable to Nomura's residential and office segments.
• Tokyu Land Corporation: Tokyo-based comprehensive developer with residential, office, retail, and resort operations. Direct overlap in mid-tier Tokyo condominium market and suburban residential (OHANA-style) segments.
• Tokyo Tatemono: Tokyo-focused office and residential developer with significant Grade A office leasing portfolio and Brilia condominium brand. Closely comparable office-led business model with similar Tokyo concentration.
• Mori Building: Tokyo-focused large-scale redevelopment specialist (Roppongi Hills, Toranomon Hills, Azabudai Hills) competing for institutional-grade mixed-use redevelopment mandates and luxury residential.

Broad incumbents

• Sekisui House: Japan's largest homebuilder with detached and built-for-sale housing focus, plus international operations in US, Australia, and China. Overlaps with PROUD SEASON detached housing and overseas expansion.
• Daiwa House Industry: Largest Japanese construction-and-real-estate conglomerate with logistics (DPL), commercial, residential, and senior housing segments. Comparable logistics and senior housing exposure.
• Hulic: Tokyo-focused office and commercial real estate company with redevelopment expertise and growing hotel and senior housing exposure. Comparable in office concentration and redevelopment mandate.

Regional players

• Daito Trust Construction: Japan's largest rental housing management and construction company (Leopalace21 competitor) with focus on build-to-rent single-family and apartment leasing. Comparable in residential rental operations (PROUD FLAT) but primarily domestic Japan focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nomura Real Estate Development