Sunshine’s realty arm to acquire stake in developer of $206 mln resort in central Vietnam
A subsidiary of multi-sector corporation Sunshine Group JSC will acquire a significant stake in the developer of a VND5.23 trillion ($206 million) real estate project in Vietnam’s central province of Thua Thien-Hue.
The move was approved by Sunshine Group’s board, allowing its real estate business subsidiary, Dynamic Innovation, to buy 101 million shares, or 39.52%, in Thuan Phu Lang Co JSC.
Thuan Phu Lang Co is the developer of the 292-hectare Lang Co resort and golf course complex project, which was licensed in 2010.
A resort-golf course complex in Thua Thien-Hue province, central Vietnam. Photo courtesy of Dau Tu (Investment) newspaper.
However, as of August, only 34% of the project’s designated land had been cleared, with construction yet to commence due to delays caused by the investor, challenges with site clearance, and complications related to planning and land procedures.
The People’s Committee of Thua Thien-Hue province said that the developer is in the process of revising the project’s investment plan, aiming to complete compensation and site clearance by the end of this year.
The acquisition of Thuan Phu Lang Co stake aligns with Sunshine Group’s strategic development plan, which focuses on mergers and acquisitions (M&A) of high-potential projects.
Founded in 2015, Sunshine Group, listed on the Hanoi Stock Exchange as KSF, had a charter capital of VND3 trillion ($118 million) as of the third quarter of this year. Chairman Do Anh Tuan holds a 54.24% stake, while general director Do Thi Dinh owns 4.24%.
Tuan also owns a 65% stake in Sunshine Homes, the entity responsible for developing Sunshine projects.
In addition to Dynamic Innovation, KSF owns stock brokerage firm SmartMind, real estate business Sunshine Sky Villa, and technology company Unicloud.
- Related News
- Read More
Vietnam's stock market trading at reasonable valuation: broker
The VN-Index’s recent pause is a normal correction within a medium- to long-term uptrend. A stable macroeconomic foundation, the government’s goal of double-digit GDP growth for 2026-2030, and a low interest-rate environment will continue to underpin the market, said Truong Hien Phuong, a senior director at KIS Vietnam Securities.
Finance - Wed, October 29, 2025 | 12:43 pm GMT+7
Vietnam PM urges Singapore to join country’s international financial center development
Prime Minister Pham Minh Chinh has called on Singapore to support Vietnam’s strategic industries, including semiconductors, renewable energy, innovation, and the digital economy, and take part in the country's international financial center development.
Economy - Wed, October 29, 2025 | 9:36 am GMT+7
Vietnam at a glance: HSBC
Given the big upside surprise in Vietnam's economic expansion in Q3, HSBC is now raising its GDP growth forecast for the country to 7.9% for 2025 (from 6.6%), and 6.7% for 2026 (from 5.8%), write the bank's analysts.
Economy - Wed, October 29, 2025 | 9:00 am GMT+7
Driving forces of Masan Group's substantial profit growth
Profit after tax in Q3 of Masan (HoSE: MSN), Vietnam's leading multi-sector group, jumped 43% to VND1,866 billion ($70.9 million) from a year earlier, as most of its business units recorded improved performance.
Companies - Tue, October 28, 2025 | 4:16 pm GMT+7
China’s Pacific Construction eyes urban, infrastructure projects in central Vietnam
Pacific Construction Group (PCG), a leading construction firm in China, has expressed interest in developing urban and transport infrastructure projects in Nghe An and Ha Tinh, two key provinces in Vietnam’s north-central region.
Infrastructure - Tue, October 28, 2025 | 3:55 pm GMT+7
Vingroup’s arm Vincom Retail sells Hanoi mall operator stake for $138 mln
Vincom Retail (HoSE: VRE), Vietnam’s leading retail property developer and a subsidiary of Vingroup (HoSE: VIC), has completed the sale of its entire equity interest in the operator of a Hanoi project as part of its investment optimization strategy.
Companies - Tue, October 28, 2025 | 3:48 pm GMT+7
Resolution 70: A 'pathway' for green energy in Vietnam
Resolution No. 70, issued on August 20, 2025 by the Politburo, Vietnam's highest decision-making body, is seen as a strategic “pathway” for green and renewable energy projects, ensuring Vietnam’s national energy security goals.
Energy - Tue, October 28, 2025 | 2:29 pm GMT+7
Vietnam, Russia to speed up agreement for construction of nuclear power plant
Vietnam and Russia have agreed to accelerate discussions and negotiations so as necessary agreements could be signed soon for the construction of Vietnam’s first nuclear power plant in Khanh Hoa province as planned.
Energy - Tue, October 28, 2025 | 9:15 am GMT+7
Petrovietnam to fully divest stakes in 2 affiliates via public auction
State-owned Petrovietnam has announced a plan to auction its entire holdings in two affiliates, Green Indochina Development JSC (GID) and Vietnam Petroleum Trading and Service JSC (PVTS), as part of efforts to divest from non-core businesses.
Finance - Tue, October 28, 2025 | 8:34 am GMT+7
Nokia, VNPT expand partnership to upgrade Vietnam’s radio infrastructure
Nokia has extended its long-term partnership with state-run Vietnam Posts and Telecommunications Group (VNPT) through a new agreement to upgrade and expand radio infrastructure across the country.
Companies - Mon, October 27, 2025 | 9:12 pm GMT+7
Private firms encouraged to invest in digital infrastructure per Vietnam government's new decision
Private companies in Vietnam are encouraged to engage in building telecom infrastructure and other infrastructure for national digital transformation through 2030 per a newly approved program.
Economy - Mon, October 27, 2025 | 4:59 pm GMT+7
Vietnam tech giant FPT's logo to be featured on Chelsea FC sleeves
Vietnamese tech giant FPT Corporation has taken social media by storm after being named a principal partner and official sleeve partner of Chelsea Football Club for the 2025/26 season.
Companies - Mon, October 27, 2025 | 4:34 pm GMT+7
EU seeks to strengthen trade-investment, green transition ties with Vietnam: European Council President
The EU wishes to enhance its cooperation with Vietnam, particularly in the areas of trade-investment, green transition, digital transformation, global challenges response, and promotion of a rules-based international order, said President of the European Council Antonio Costa.
Economy - Mon, October 27, 2025 | 4:12 pm GMT+7
The Investor to hold green energy transition seminar on Thursday
The Investor will organize a seminar entitled “Green Energy Transition from Perspective of Politburo’s Resolution No. 70” in Hanoi on Thursday, October 30.
Companies - Mon, October 27, 2025 | 3:51 pm GMT+7
Central Vietnam hub Danang names 5 property projects eligible to raise investment capital
The Department of Construction in Danang city has announced a list of five property projects that have been approved to mobilize a total of over VND22 trillion ($836.34 million) in investment capital.
Real Estate - Mon, October 27, 2025 | 11:59 am GMT+7
Petrovietnam’s arm PTSC posts 140% profit surge in Q3 on higher deposit income
PetroVietnam Technical Services Corporation (PTSC, HoSE: PVS), a subsidiary of state-run Petrovietnam, reported VND324 billion ($12.3 million) in Q3 net profit, up 140% year-on-year, driven by higher financial income and reduced borrowing costs.
Companies - Mon, October 27, 2025 | 11:20 am GMT+7
