The hotel is aimed at attracting Japanese business travellers, according to Nikkei.
Slated to open in 2020, the 21-storey hotel will have 451 guest rooms.
Of these, 182 will be managed as extended-stay rooms, with and management of the remaining 269 rooms will be outsourced to Okura Nikko Hotel Management.
Hai Phong is Viet Nam’s third-largest city after HCM City and Ha Noi.
The hotel will be some 10 minutes by car from the city centre in an area near large industrial parks, making for an easy commute.
Luxury residences and a hospital are being built nearby.
Daiwa House’s subsidiary Fujita will break ground on the building in June.
The extended-stay rooms will include services such as housekeeping and will be managed by a group company.
Expected to be part of the Hotel Nikko family, the hotel will include exercise facilities and an outdoor pool open to all guests.
Daiwa House is adding to its extended-stay properties in Southeast Asia with an eye to Japanese business travellers.
It will open a 256-room serviced apartment complex in Ha Noi in the summer of 2018 and plans to develop similar properties in Thailand in the future.