Vietnam's property major Sun Group starts $1.43 bln urban project in southern Vietnam
Sun Group, one of the top property developers in Vietnam, on Friday broke ground on a VND37 trillion ($1.43 billion) urban area project in the southern coastal province of Ba Ria-Vung Tau.
The development is poised to become one of the largest integrated urban complexes ever undertaken in the province.
Illustration of the $1.43 billion urban area project in Ba Ria-Vung Tau province, southern Vietnam. Photo courtesy of Sun Property.
Spanning 96 hectares in wards 10 and 11, Vung Tau town, the project will include a mix of high-rise apartment buildings, low-rise villas, commercial and serviced complexes, hotels, and a 19-hectare themed water park.
Once completed, it is expected to accommodate around 13,000 residents and welcome up to 11,000 visitors per day.
Strategically situated along 3/2 street, the development borders two central wards of Vung Tau town. The location offers strong connectivity to neighboring Ho Chi Minh City and adjacent provinces via major transport infrastructure, including National Highway 51, the Long Thanh-Dau Giay Expressway, the Bien Hoa-Vung Tau Expressway, and the under-construction Ben Luc-Long Thanh Expressway.
The site is also 60 kilometers from Long Thanh International Airport in Dong Nai province, enhancing its accessibility to both domestic and international visitors.
In the first quarter of 2025, Ba Ria-Vung Tau province received over 4.5 million tourist arrivals and posted VND5.08 trillion ($196 million) in tourism earnings.
Sun City Limited Liability Company, an affiliate of Vietnam’s top real estate developer Sun Group, has received a preliminary in-principle approval from local authorities to build a VND12.75 trillion ($491 million) opera house in Hanoi. The project, named Pearl Opera House and Cultural Theme Park, will span 191,241 square meters in Quang An ward, Tay Ho district.
Sun Group on April 26 broke ground on its Am Tien spiritual and historical tourism complex project in the central province of Thanh Hoa. The $1.35 billion project, covering over 350 hectares in Trieu Son district, is set for completion between 2027 and 2030.
- Related News
- Read More
Gold trading major Bao Tin Minh Chau's founder subject to legal proceedings for alleged accounting violations
Legal proceedings have been launched against Vu Minh Chau, founder and majority owner of Hanoi-based gold trading firm Bao Tin Minh Chau, for alleged violations of accounting regulations during business operations, police said on Monday.
Society - Mon, April 6, 2026 | 5:57 pm GMT+7
Southern Vietnam-based Hyosung Vina Chemicals losses persist despite capital injection
Hyosung Vina Chemicals, the Vietnam arm of South Korean chaebol Hyosung, reported another year of heavy losses in 2025, underscoring persistent financial strain despite a significant capital injection from its parent group.
Companies - Mon, April 6, 2026 | 5:08 pm GMT+7
Petrolimex expects record revenue, profit drop in 2026 amid energy transition pressures
Petrolimex, Vietnam’s largest gasoline retailer, is targeting record revenue in 2026 even as profitability comes under pressure, highlighting the mounting challenges traditional fuel distributors face amid the energy transition and tightening policy environment.
Companies - Mon, April 6, 2026 | 4:24 pm GMT+7
Vietnam’s auto assembler TMT targets 3-fold profit surge, bets on electric pivot
Vietnamese auto assembler and distributor TMT Motors (HoSE: TMT) targets a sharp jump in profitability in 2026 as the company accelerates a strategic pivot toward electric vehicles.
Companies - Mon, April 6, 2026 | 4:10 pm GMT+7
MB targets 30-35% annual credit and deposit expansions, 15% profit growth for 2026
Military Commercial Joint Stock Bank (MB) aims to grow its loan book and capital mobilization by 30-35% annually over 2026-2028 as Vietnam’s economy is expected to sustain strong momentum, said chairman Luu Trung Thai.
Banking - Mon, April 6, 2026 | 1:59 pm GMT+7
Tran Thanh Man re-elected as Vietnam National Assembly Chairman
Tran Thanh Man has been re-elected as Chairman of the National Assembly, Vietnam's legislative body, for the 16th tenure after securing unanimous approval from lawmakers.
Politics - Mon, April 6, 2026 | 1:47 pm GMT+7
New Vietnamese legislature’s first session to elect key leaders
The first session of the 16th National Assembly, Vietnam's legislature, opened in Hanoi on Monday morning, focusing on electing new key leaders to steer the country in the next five years.
Politics - Mon, April 6, 2026 | 9:34 am GMT+7
Vietnam’s FDI disbursement hits 5-year high in Q1
Vietnam received $5.41 billion in implemented FDI capital for Q1/2026, up 9.1% year-on-year and marking the highest level for the quarter in five years.
Economy - Mon, April 6, 2026 | 8:38 am GMT+7
Vietnamese stocks entering new growth cycle: broker
Vietnam’s stock market is poised to enter a new growth cycle where short-term fluctuations may only serve as a stepping stone to a more positive long-term trend, according to leading domestic brokerage SSI Securities.
Finance - Sun, April 5, 2026 | 7:55 pm GMT+7
Vietnam's agri major BAF targets sixfold profit jump, bets on high-rise pig farming complexes
BAF Vietnam Agriculture JSC (HoSE: BAF) is targeting a more than sixfold increase in net profit this year as the top Vietnamese agribusiness accelerates investment in large-scale, high-tech livestock operations, positioning itself for a strong rebound after a challenging 2025.
Companies - Sun, April 5, 2026 | 11:54 am GMT+7
Mixue’s global boom masks growing pains in Vietnam
China’s Mixue is posting strong global growth, but the world’s largest beverage chain by store count is encountering mounting challenges in Vietnam, where rapid expansion and shifting consumer preferences are eroding its once-formidable price advantage.
Companies - Sun, April 5, 2026 | 9:00 am GMT+7
Vietnam secures stable fuel supply through end-April
Vietnam’s domestic fuel supply is expected to remain stable through the end of April, despite mounting volatility in global energy markets driven by escalating tensions in the Middle East, a senior government official said.
Economy - Sun, April 5, 2026 | 8:00 am GMT+7
Vietnam moves to cement LNG supply chain as power demand surges
Vietnam is stepping up efforts to build a national LNG supply chain, as PV Gas signed a series of agreements with Vietnam Electricity (EVN) and PV Power to supply fuel for large-scale gas-fired power projects.
Energy - Sat, April 4, 2026 | 8:27 pm GMT+7
Vietnam's middle class solidifies as monthly household incomes climb to $831
Vietnam’s household income reached a new milestone in 2026, with the national average rising to VND21.9 million ($831.4) per month, according to the latest survey covering over 14,000 respondents by Q&Me Vietnam Market Research.
Economy - Sat, April 4, 2026 | 3:51 pm GMT+7
Vietnam records 7.83% economic expansion in Q1
Vietnam posted 7.83% GDP growth in Q1/2026 from a year earlier, with the services sector accounting for 50.32% of the economy's total value added, according to the General Statistics Office (GSO).
Economy - Sat, April 4, 2026 | 11:41 am GMT+7
Jewelry major PNJ appoints new CEO, targets record profit of $129 mln for 2026
Vietnam's leading jewelry maker Phu Nhuan Jewelry JSC (HoSE: PNJ) has appointed a new CEO as part of a broader restructuring plan, while setting a record net profit target of VND3.41 trillion ($129.42 million) for 2026.
Companies - Sat, April 4, 2026 | 9:45 am GMT+7
