HCMC – Viet Capital Real Estate (VCRE) and Nobu Hospitality, a luxury lifestyle brand, signed a deal this morning, April 25, to develop a complex of hotels, restaurants and residences in Danang City.

The signing ceremony took place at the GEM Center in HCMC, with the participation of Trevor Horwell, CEO of Nobu Hospitality; Vo Thanh Lam, CEO of VCRE; Susan Burns, U.S. Consul General in HCMC, and representatives of their partners.

As part of the partnership, Nobu Hospitality will create its first mixed-use development project in Vietnam and Southeast Asia, named the Nobu Hotel, Restaurant and Residences in Danang, located at the intersection of Vo Nguyen Giap and Vo Van Kiet streets.

The hospitality project will feature 253 condotels, 206 hotel rooms, 18 suites, modern conference facilities, and food and beverage outlets.

“We are confident that our partnership with Nobu will help enhance the overall investment landscape of Vietnam, paving the way for Danang to become the most sought-after destination in the Asia-Pacific region,” Lam said.

The cooperation between VCRE and Nobu Hospitality exemplifies how U.S. companies recognize the enormous potential of the Vietnamese market, according to Susan Burns, U.S. Consul General in HCMC.

VCRE is a part of Phoenix Holdings Company, which specializes in investing in various sectors such as financial services, banking, technology, consumer and retail, cuisine, and entertainment media. Meanwhile, Nobu owns over 60 restaurants, hotels, and apartments worldwide, and is currently an iconic brand in providing international culinary services.