Property developers announce plans for year, market still seen challenging
Major property developers in southern Vietnam have announced diverse business plans for this year, including new developments in provinces near Ho Chi Minh City and middle-end housing products.
Phu Dong Real Estate JSC had already completed sales of units at the Phu Dong Sky Garden project in Binh Duong’s Di An town next to HCMC in 2022, said CEO Ngo Quang Phuc. The project features 640 high-end apartments, and completion is set for 2024.
“Our 2023 plans include a new project, Phu Dong Sky One, also in Di An,” said Phuc.
The new project will offer 780 affordable apartments for lower-income people. He added his company is finanlizing legal procedures for the Phu Dong 4 project on an 8-hectare site in the same town.
According to Five Star International Group, in Q1/2023, the Five Star Eco City project in Long An province’s Can Giuoc district, also close to HCMC, will be launched. Covering more than 400 hectares, the company completed the project’s first phase in 2018 on 100 hectares, while the second phase of another 100 hectares is a new development this year with townhouses and villas.
Five Star chairman Tran Van Muoi said his company will launch a 4-storey high-end apartment project in Vung Tau town in the southern province of Ba Ria-Vung Tau in Q3/2023.
“This year will be the year for our projects to boom after prolonged legal procedures,” he said.
BCG Group plans to launch a luxury resort in Mui Ne this year, dubbed the "paradise of resorts", in Binh Thuan province, about four hours’ drive from HCMC. BCG has completed legal procedures for the hospitality project.
Van Phuc Group also plans to put high-class townhouses and villas at the Van Phuc City project on the market, which cover 198 hectares in Thu Duc city on HCMC’s outskirts.
A corner of Van Phuc City in Thu Duc, Ho Chi Minh City. Photo courtesy of Van Phuc Group.
Nguyen Huong, CEO of Dai Phuc Land, a Van Phuc Group member company, said that the group will focus on launching the first 400 high-end apartments in 2023.
The group will launch another high-end project in HCMC’s Binh Chanh district. The project, covering more than 50 hectares, will include townhouses and villas. Infrastructure work is already underway.
Phu Long Real Estate said it is completing legal procedures for an affordable apartment and social housing project in Thu Duc, and expects to start sales this year.
Phu Long will also launch at least one high-end apartment project in HCMC this year.
Meanwhile, Tran Anh Real Estate chairman Tran Duc Vinh said he is pursuing a healthcare project in Long An province’s Duc Hoa district near HCMC. The project site is already available, and Vinh has just been to Japan to learn about Japanese experiences and invite Japanese partners to join hands with his firm.
He expects his firm and Japanese investors to co-develop the healthcare project this year.
Thang Loi Group CEO Nguyen Thanh Quyen said his corporation will start work on an affordable housing project also in Duc Hoa, designed with around 40,000 apartments. The legal work has been finished, he added.
Novaland plans to continue to introduce to the market this year big projects in Dong Nai, Ba Ria-Vung Tau, Binh Thuan, and Khanh Hoa provinces.
Phat Dat’s focus is a resort in Ho Tram of Ba Ria-Vung Tau, while Hung Thinh Group is preparing to build a 1,000-hectare project in Quy Nhon in the central province of Binh Dinh.
Market not yet out of the woods
Both developers and customers have recently faced difficulties in getting access to capital to build and to buy, Phu Dong CEO Ngo Quang Phuc said, adding that this obstacle will go on.
“It is expected that the market will return in the second half of this year and get busier at the end of the year thanks to the government’s market-supporting solutions,” he said.
Nguyen Hoang, a real estate expert, said that at present it is still hard to make market forecasts for this year. He expects the government's measures will step-by-step help the market get out of the woods, but a booming market is unlikely.
He predicted that the market will take new approaches in advertising, sales and product real estate management, as well as investments.
Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association (HoREA), said 2023 will be the time for corporate restructuring if developers want to survive, because real estate prices have recently been inflated due to large amounts of go-betweens.
“It's time to purify the market. Developers with enough financial capacity and experience will carry on,” he said.
- Read More
Gold exchange, gold derivatives, gold ETFs proposed to be launched in Vietnam
Forming a gold exchange under state management in Vietnam is suitable to the reality, said Dao Xuan Tuan, head of the foreign exchange management department under the State Bank of Vietnam (SBV).
Finance - Wed, October 22, 2025 | 9:00 pm GMT+7
Real estate major Novaland wins key approval for $5 bln project in central Vietnam
Novaland Group (HoSE: NVL), one of Vietnam’s leading property developers, has received investment approval for its flagship project worth $5 billion in the central province of Lam Dong after years of delay due to legal obstacles.
Real Estate - Wed, October 22, 2025 | 4:20 pm GMT+7
Vietnam's plastics heavyweights Tien Phong, Binh Minh report profit surges
Tien Phong Plastic (HNX: NTP) recorded pre-tax profit of nearly VND949 billion ($36.04 million) in the first nine months of the year, exceeding its full-year target by 10.85%, while Binh Minh Plastic (HoSE: BMP) achieved record net profit of VND350 billion ($13.29 million) in Q3, surpassing its VND330 billion milestone set in the previous quarter.
Companies - Wed, October 22, 2025 | 4:17 pm GMT+7
Vietnam, Finland firms sign multiple MoUs on satellite, cybersecurity, aviation partnerships
A series of cooperation agreements were signed between Vietnam and Finland on Tuesday, within the framework of Party chief To Lam's official visit to Helsinki, while bilateral relationship was lifted to a "strategic partnership".
Economy - Wed, October 22, 2025 | 12:43 pm GMT+7
Trung Nam Ca Na seeks to convert agri-forest land for $147 mln industrial park in central Vietnam
Industrial park developer Trung Nam Ca Na is seeking approval to convert about 170 hectares of agricultural and forest land for the construction of a VND3,875 billion ($147 million) project in Vietnam’s central coastal province of Khanh Hoa.
Industrial real estate - Wed, October 22, 2025 | 10:54 am GMT+7
PV Power's arm posts 5-fold jump in Q3 profit on margin recovery
PetroVietnam Power Nhon Trach 2 JSC (HoSE: NT2) reported a sharp rebound in third-quarter earnings as improved margins and higher revenue lifted profits nearly fivefold from a year earlier.
Companies - Wed, October 22, 2025 | 8:37 am GMT+7
TCBS overtakes SSI to become Vietnam’s largest securities company by market cap
Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.
Finance - Tue, October 21, 2025 | 10:27 pm GMT+7
Indonesia’s palm oil industry becomes investment magnet
Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.
Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7
Indonesia reports strong job, investment growth
The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.
Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7
Singapore grants conditional approval for 1GW low-carbon power import from Malaysia
Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.
Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7
Margin lending in Vietnam’s stock market hits record, but not worrisome
Despite margin debt in Vietnam’s stock market surging sharply, experts believe that current margin pressure is not yet a major concern as top securities firms have significantly strengthened their capital buffers.
Finance - Tue, October 21, 2025 | 4:23 pm GMT+7
Lenders in Vietnam now in low-rate lending race: ACB exec
The biggest “headache” for banks in Vietnam now is that profit margins are getting thinner, said CEO of Asia Commercial Bank (ACB) Tu Tien Phat.
Banking & Finance - Tue, October 21, 2025 | 4:00 pm GMT+7
PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry
Over the past 35 years of establishment and development (1990-2025), PV Gas, a subsidiary of state-owned giant Petrovietnam, has affirmed its pioneering position in Vietnam’s gas industry, marked by a series of groundbreaking achievements in science and technology.
Companies - Tue, October 21, 2025 | 3:45 pm GMT+7
Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months
F88 Investment JSC (F88), a leading consumer finance company in Vietnam, reported a cumulative pre-tax profit of VND603 billion ($22.88 million) in the first nine months of 2025, a 2.5-fold increase year-on-year, reaching 90% of its full-year target of VND673 billion.
Companies - Tue, October 21, 2025 | 3:15 pm GMT+7
Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery
With Q3 earnings season underway, results are expected to come in broadly in line with expectations. Financials should remain the largest contributors, benefiting from credit expansion and trading activity, while real estate continues to recover as project launches and sales rates improve, writes Tung Dang, associate director at Dragon Capital.
Economy - Tue, October 21, 2025 | 2:33 pm GMT+7
Inland port opens in southern Vietnam province Tay Ninh, set to become border logistics hub
The 16.5-hectare Tan Cang-Moc Bai inland port in Tay Ninh province, southern Vietnam has been opened, offering logistics services and handling customs clearance for imports and exports.
Infrastructure - Tue, October 21, 2025 | 12:03 pm GMT+7





















