First Entry into the UK’s Build-to-Rent (BTR) Business, upon a Mid-to-Long-Term Agreement with L&G

Nomura Real Estate Development Co., Ltd. (“Nomura”, Head office: Shinjuku-ku, Tokyo; President and Representative Director: Daisaku Matsuo) is pleased to announce our first entry into the UK Build-to-Rent (BTR*1) market and signing a basic agreement with Legal & General Ltd (“L&G”). L&G is one of the leading companies in the UK’s BTR sector, boasting a cumulative development record of approximately 10,000 units and has recognized the expertise Nomura has cultivated in residential development within Japan. We will work together under a medium- to long-term partnership to continuously develop rental housing to the local needs.
　Currently, the UK faces a significant housing shortage driven by factors such as population growth, and the government authorities prioritize support for housing supply as a key policy measure. Rental housing development is regarded as an effective solution to this social challenge, and L&G leads this initiative as a local development expert. We aim to deliver high-quality rental housing within commuting areas to central London, combining L&G’s extensive knowledge of residential development in the UK with our expertise in product planning and design.

• (*1 )Build-to-Rent: multi-family residential properties developed exclusively for rental purposes