Vietnam's real estate major Hoang Huy aims for record net profit in 2025
Vietnamese property developer Hoang Huy Group targets to earn VND1.6-2 trillion ($61.6-77 million) in 2025 net profit, an all-time high and up 43-78% year-on-year, said deputy CEO Do Huu Hung.
At the company's 2025 Extraordinary General Meeting (EGM) on Friday, Hung stated that the board of directors plans to submit to the 2025 AGM, scheduled for July, a plan targeting revenue of over VND4 trillion ($144 million) for this year, down 14.3% from 2024.
He noted that even with a 30% increase in charter capital, the firm, listed on the Ho Chi Minh Stock Exchange (HoSE) as TCH, would still ensure gradually improving efficiency, with an expected growth of over 30% in both revenue and profit over the next five years.
Hung said that since 2021, the firm has launched the Hoang Huy So Dau and Hoang Huy Commerce projects, with a total investment of VND5 trillion ($192.47 million). “Hoang Huy So Dau and Hoang Huy Commerce have sold 100% and 96% of their units, respectively, and already delivered profits after three years,” he added.
Hoang Huy Grand Tower So Dau and Hoang Huy Commerce are residential complex projects in Hong Bang and Le Chan districts of Hai Phong city, respectively.

An illustration of Hoang Huy Commerce, courtesy of the company.
Additionally, the group has raised VND2 trillion ($77 million) for the Hoang Huy Green River, also in Hai Phong, and Hoang Huy Commerce – Phase 2 projects, equivalent to 30% of their total investment value.
The Hoang Huy Green River project has completed construction of the first to third floors with 282 units. The company is committed to recording revenue from this project by the end of 2025.
For Hoang Huy Commerce – Phase 2 (Tower H2), sales are expected to launch within the next 1-2 months and its revenue will be recorded in 2026.

At Hoang Huy Group's 2025 Extraordinary General Meeting (EGM) in Hai Phong city, northern Vietnam, May 9, 2025. Photo by The Investor/Huu Bat.
At the EGM, shareholders approved a capital raising plan to fund Hoang Huy Green River and Hoang Huy Commerce, including the issuance of 200.4 million new shares to existing shareholders, equivalent to 30% of the total floating shares.
This is expected to raise the company’s charter capital to VND8.68 trillion ($334.12 million), with a proposed offering price of VND10,000 ($0.38) per share.
Out of over VND2 trillion expected to be raised, VND1.2 trillion ($46.2 million) will be invested in Hoang Huy Green River and VND804.65 billion in the H2 apartment tower of Hoang Huy Commerce, located in Kenh Duong and Vinh Niem wards, Le Chan district, Hai Phong.
For Hoang Huy NewCity – Phase 2, the group plans to first develop the low-rise housing area, with sales expected to begin in 2025. The high-rise area will proceed more slowly due to longer construction times. A company representative affirmed TCH’s commitment to ensuring synchronized, safe, and on-schedule construction, aiming to record revenue from the project as early as possible.
U.S. tariff policy could benefit TCH
According to the firm, the U.S. tariff policy does not significantly affect the company's operations, as TCH mainly operates in the domestic real estate sector.
Additionally, it has experience in vehicle importation, so exchange rate fluctuations have limited impact.
“TCH imports vehicles from the U.S., so if the tariff is reduced to zero, this would be a competitive advantage for us,” the representative said.
Vietnam's Party chief To Lam on April 4 said during a phone call with President Donald Trump that Vietnam is willing to negotiate with the United States to cut import tariffs on U.S. goods down to zero. Lam proposed the United States to do the same for Vietnamese exports.
Trade talks between the U.S. and Vietnam are underway.
In the stock market, TCH closed Friday at VND17,650 ($0.68) per share.
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