Van Thinh Phat-related real estate origin reviewed after chairwoman arrest
Ho Chi Minh City's police has asked the municipal Department of Natural Resources and Environment to review the origin of 156 properties related to Van Thinh Phat Group.
The properties are mainly located in districts 1, 3, 5 and 7, and Thu Duc city, notably Time Square at No. 22-36 Nguyen Hue street, Ben Nghe ward, District 1; buildings No. 144-146 Hai Ba Trung street and No. 43-45 Nguyen Dinh Chieu street in District 1’s Da Kao ward.
The department was requested to send the police a report on review outcomes this month.
Van Thinh Phat Group's Times Square building (middle) in Nguyen Hue street, District 1, HCMC. Photo courtesy of Zing magazine.
Earlier on October 8, Truong My Lan, chairwoman of the HCMC-based property developer, was arrested for allegedly fraud in the issuance and trading of corporate bonds in 2018 and 2019. The 66-year-old faces charges of fraudulently appropriating assets, said Lieutenant General To An Xo, a spokesman at the Ministry of Public Security.
Lan and her accomplices allegedly misappropriated trillions of dong (VND1 trillion = $41.87 million) from the public via the issuance and trading of corporate bonds in the period.
Lan, also known as Truong Muoi, is a Chinese-Vietnamese businesswoman and a billionaire. Her husband is a wealthy real estate tycoon living in Hong Kong.
Lan established Van Thinh Phat Co., Ltd. in 1992, operating in commerce, restaurant and hotel businesses, then expanded to real estate. Van Thinh Phat is known for owning a series of major property projects and buildings in premier locations in HCMC, Vietnam’s southern economic hub.
- Related News
- Read More
Property 'heat' seen in central HCMC, outlying areas with good infrastructure
The heat in Ho Chi Minh City’s property market continues to be concentrated in the city center and selected outlying areas with well-developed infrastructure or projects backed by major developers like the Can Gio area.
Real Estate - Mon, December 29, 2025 | 2:18 pm GMT+7
HCMC real estate gains appeal as International Financial Center to take shape
With the establishment of an International Financial Center, Ho Chi Minh City will form an elite community of entrepreneurs and professionals from around the globe. This is very attractive for real estate investors, says architect Truong Van Quang, deputy secretary general of the Vietnam Urban Planning and Development Association (VUPDA).
Real Estate - Mon, December 29, 2025 | 8:00 am GMT+7
Taseco Group marks 20th anniversary, receives Second Class Labor Medal
Taseco Group in December 20 celebrated its 20th anniversary and received the Second Class Labor Medal – a prestigious award from the Party and State recognizing the company's outstanding contributions to socio-economic development.
Companies - Sun, December 28, 2025 | 12:55 pm GMT+7
Top 10 standout international events in 2025
The U.S.'s imposition of reciprocal tariffs, the Thailand-Cambodia border conflict, and the AI race are among the 10 prominent international events in 2025 as selected by Vietnam News Agency.
Politics - Sun, December 28, 2025 | 12:40 pm GMT+7
Vietnam’s jewelry major PNJ to pay cash dividend, seek share bonus as stock defies market slump
Phu Nhuan Jewelry JSC (HoSE: PNJ) said it will pay an interim cash dividend for 2025 at a rate of 10% and seek shareholder approval to issue bonus shares in January next year. Its stock has risen against a broader market correction.
Companies - Sun, December 28, 2025 | 11:12 am GMT+7
HCMC to launch Free Trade Zone linked to Cai Mep Ha Port
Ho Chi Minh City plans to establish a free trade zone (FTZ) linked to Cai Mep Ha Port, with future expansions to Can Gio, An Binh and Bau Bang, optimizing unique local advantages while maintaining a unified management model, according to a new resolution.
Infrastructure - Sun, December 28, 2025 | 8:00 am GMT+7
Vingroup's hospitality arm appoints new CEO
Vinpearl Joint Stock Company, a leading investor and operator of resorts and theme parks in Vietnam, has appointed Ngo Thi Huong as its new CEO, starting from Friday.
Companies - Sat, December 27, 2025 | 9:02 pm GMT+7
Advisory council recommends Vietnamese government not expand monetary policy in 2026, exercise more caution
Vietnam’s National Financial and Monetary Policy Advisory Council has recommended that the Government refrain from expanding monetary policy in 2026, adopt a more cautious approach, and coordinate monetary and fiscal policies in a balanced manner.
Consulting - Sat, December 27, 2025 | 4:01 pm GMT+7
Nguyen Thanh Phuong exits BVBank board, leads strategy board
Nguyen Thanh Phuong will step down from the board of directors at Vietnam’s private lender BVBank (BVB) for the 2025-2030 term, as decided at an extraordinary shareholders’ meeting on Friday.
Banking - Sat, December 27, 2025 | 12:03 pm GMT+7
PV Gas plans over $3.8 bln investment for 2026-2030, eyes LNG infrastructure, M&A as priorities
PV Gas, the investor of Thi Vai LNG terminal in Ho Chi Minh City, plans to invest more than VND100 trillion ($3.8 billion) in the 2026-2030 period, with LNG infrastructure and mergers and acquisitions (M&A) among its strategic priorities, said parent company Petrovietnam.
Industries - Sat, December 27, 2025 | 10:32 am GMT+7
HCMC proposes adding 5 metro lines connecting Long Thanh airport, Binh Duong, Vung Tau
The Ho Chi Minh City People’s Committee has proposed adding five metro lines to the appendix of the parliamentary Resolution No. 188 on piloting special mechanisms and policies to develop the urban railway network in Hanoi and HCMC.
Infrastructure - Sat, December 27, 2025 | 8:00 am GMT+7
Thaco enlarges charter capital by one-third ahead of Vingroup’s exit from high-speed rail bid
Vietnamese conglomerate Thaco Group has increased its charter capital by a third, just one day before rival Vingroup announced its withdrawal from the planned North-South high-speed railway project.
Companies - Fri, December 26, 2025 | 5:11 pm GMT+7
Le Ngoc Son appointed as Petrovietnam chairman
Petrovietnam's (PVN) CEO Le Ngoc Son has been appointed chairman of the state-owned group's members’ council.
Companies - Fri, December 26, 2025 | 4:54 pm GMT+7
Vietnamese fast food consumers spend average $5.5 per visit, chicken meals dominate
Vietnamese consumers are spending an average of VND144,500 ($5.5) per receipt at major fast-food chains, according to a December report by market research firm Q&Me.
Society - Fri, December 26, 2025 | 2:53 pm GMT+7
The aviation ecosystem game: Can Sun Group win?
Phu Quoc holds a rare advantage in having established a relatively comprehensive aviation ecosystem, comprising the expanded Phu Quoc International Airport and an airline bearing the island’s name – Sun PhuQuoc Airways.
Companies - Fri, December 26, 2025 | 2:44 pm GMT+7
Vingroup units, Idico sign strategic deal on clean energy, green transport
Four arms of Vingroup (HoSE: VIC) on Thursday signed a strategic cooperation agreement with major industrial park developer Idico, targeting clean energy supply and electrification of transport across the latter’s industrial zones.
Companies - Fri, December 26, 2025 | 2:19 pm GMT+7
