Business Talk with Yusuke Hirano, Executive Officer, Nomura Real Estate Development Co., Ltd.
Nomura Real Estate’s Challenge to “Connect Tomorrow” in the Philippines
Mr. Yusuke Hirano
Executive Officer, Nomura Real Estate Development Co., Ltd.
Vice Chairman, Federal Land NRE Global, Inc.
It has been nearly eight years since Nomura Real Estate, one of Japan’s leading integrated developers, established a full-scale presence in the Philippine market. This endeavor extends far beyond conventional overseas expansion. The company’s initiatives represent a strategic effort to redefine urban value through its signature “Japan Concept,” a philosophy that integrates quality, innovation, and cultural sensitivity.
From the pioneering The Seasons Residences in Bonifacio Global City to the large-scale mixed-use development THE OBSERVATORY, Nomura Real Estate continues to introduce Japan’s urban development expertise into the everyday lives of Filipinos. In this interview, Mr. Yusuke Hirano shares the company’s vision, strategy, and commitment to building sustainable, high-quality urban environments in the Philippines.
Philippine Primer:
Could you tell us about Nomura Real Estate’s global strategy?
Mr. Hirano:
Nomura Real Estate engages in a wide range of urban development, from residential and office spaces to commercial and logistics facilities, and has built a strong track record both in Japan and abroad.
Our corporate philosophy, “Connect Tomorrow,” expresses our commitment to enriching people’s lives and communities for the future. Our overseas business is an extension of that mission. We aim to apply the knowledge and expertise we’ve cultivated in Japan to address social and lifestyle challenges in each country we work in, contributing to people’s happiness and sustainable urban growth.
We did once withdraw from overseas ventures after Japan’s economic bubble burst, but that experience gave us valuable lessons. When we decided to reenter the global market, we focused on regions with cultural affinity and strong growth potential, particularly Southeast Asia. Among these, the Philippines stood out with its young and growing population and rapidly expanding real estate market. Today, we consider the Philippines one of our most strategic markets globally.
Philippine Primer:
What has Nomura Real Estate achieved so far in the Philippines?
Mr. Hirano:
Our full-scale entry into the Philippine market began in 2017 with The Seasons Residences project in Bonifacio Global City (BGC). This development, created in partnership with Federal Land and Isetan Mitsukoshi, features four condominium towers with about 1,300 residential units, complemented by a retail complex anchored by Mitsukoshi BGC.
This was the first major collaboration between a Japanese developer and retailer for a mixed-use project in the Philippines. Working with leading Japanese design firms such as Nikken Sekkei, we infused the “Japan Concept” into every detail, from exterior design inspired by the four seasons to interiors that reflect Japanese elegance and functionality. We also implemented advanced seismic damping systems to ensure safety and resilience against earthquakes and typhoons.
Despite the challenges brought by the pandemic, the project is now over 90% sold, with unit handovers underway. It has earned strong recognition, including the Five-Star Award for Best Mixed-Use Development in the Philippines from the Asia-Pacific Property Awards.
Building on this success, we deepened our partnership with Federal Land by establishing Federal Land NRE Global, Inc. (FNG) in 2022. This joint venture serves as a platform for long-term collaboration, combining Federal Land’s extensive land bank and GT Capital’s business infrastructure with our Japanese development expertise, creating a uniquely Filipino-Japanese synergy.
Beyond capital investment, we are directly involved in design, construction management, sales, and quality control, deploying Japanese engineers to the Philippines and implementing meticulous standards from planning to after-sales. While this approach requires time and effort, our goal is to build trust and differentiation through quality rather than mere efficiency.
Philippine Primer:
What projects are you currently focusing on?
Mr. Hirano:
At present, FNG is working on a large-scale mixed-use project called THE OBSERVATORY. Located along the Pasig River, between BGC, Makati, and Ortigas, THE OBSERVATORY spans approximately 4.5 hectares and will include eight condominium towers, one office building, and a retail area, totaling about 4,300 residential units.
Like The Seasons Residences, it offers convenient direct access to commercial spaces. The site also boasts panoramic views of both the BGC and Makati skylines.
Our main target market is the emerging affluent generation: young, dual-income professionals. The project integrates many aspects of Japanese living: practical entryway design, smart storage solutions, and layouts that maximize comfort and efficiency. Amenities include co-working spaces, yoga studios, fitness gyms, pools, entertainment rooms, outdoor play areas, and even a pet park, creating a vibrant environment for modern lifestyles.
The first tower, SORA Tower, launched at the end of 2023 and has already sold around 60% of its units. Prices start in the ¥20 million range, offering accessibility across different buyer segments. We’re particularly honored that over 40% of our buyers are Japanese clients. Our local showroom opened last August, and we warmly invite everyone to visit and experience the project firsthand.
Philippine Primer:
What are your future plans in the Philippines?
Mr. Hirano:
Smart cities and sustainable developments will certainly continue to shape the country’s future. However, our immediate focus is on more fundamental questions: What should Japanese developers truly contribute to this market over the next decade?
While leveraging our technical expertise is essential, the key is to stay grounded in what genuinely satisfies customers. That means designing homes where families feel safe, minimizing defects through careful construction, and creating living spaces that make the most of every square meter. Through continuous improvement, we aim to deliver lasting satisfaction and trust.
We’re also preparing to expand to Cavite and Cebu. In Cavite, we’re planning a massive township development covering over 200 hectares, complete with condominiums, houses, logistics hubs, offices, and commercial spaces. We are essentially building an entire city over the coming decades. We hope everyone looks forward to what’s ahead.
About Mr. Yusuke Hirano
Mr. Yusuke Hirano graduated from Waseda University’s School of Political Science and Economics in 1996. He joined Nomura Real Estate the same year, spending 12 years in condominium sales before moving into corporate planning and investor relations. In 2015, he was assigned to the company’s Singapore office and has since been deeply involved in its overseas business operations. He assumed his current role in 2022.
Hobbies: Golf (though he humbly says he’s “not very good at it!”) and jogging. On weekends, he enjoys staying active through rounds of golf, running, or strength training sessions.
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