Vingroup starts work on $2.2 bln int'l university township in southern Vietnam

Vietnam’s conglomerate Vingroup (HoSE: VIC) on Wednesday broke ground on a VND59 trillion ($2.24 billion) international university township in Ho Chi Minh City.

The project, spanning about 880 hectares, is located in Xuan Thoi Son commune. It is being developed by Berjaya Vietnam International University Town LLC, whose 97.4% stake is held by Vingroup's housing arm Vinhomes.

Positioned near key transport links including National Highway 22, the Ho Chi Minh City Ring Road 3, and the Ho Chi Minh City-Moc Bai Expressway, the project is designed as a knowledge-based urban hub integrating education, research, residential, and commercial functions.

Under the master plan, around 150 hectares will be allocated for education, research, and services, while 117 hectares will be reserved for green space and water features. Residential land will account for roughly 436 hectares, with the remainder designated for infrastructure and public utilities.

A key feature of the development will be a large university and research complex, supported by an ecosystem of amenities including Vinmec hospitals, Vincom Mega Mall shopping centers, a 36-hole golf course, and a network of 100 themed parks.

Planned attractions include a 27-hectare botanical park, a 23-hectare water park, a 10-hectare Japanese garden, and entertainment facilities under the VinWonders brand.

The urban area is expected to accommodate around 135,000 residents and 60,000 students, forming a community centered on education, research, and innovation. The project is slated to begin operations in early 2035.

Vingroup's vice chairman Le Khac Hiep said the development aligns with HCMC’s broader urban planning strategy, which identifies the northwestern area, including Cu Chi and Hoc Mon districts, as a future hub for industry, services, and innovation, supported by major infrastructure upgrades.

The group is also advancing several other large-scale projects in and around HCMC, with a combined land bank of about 2,220 hectares.

In the first quarter of 2026, Vingroup reported revenue of more than VND104.3 trillion ($3.96 billion) and net profit of VND5.61 trillion ($212.86 million), up over 24% and 150%, respectively, from a year earlier.

The results were driven largely by its real estate and manufacturing segments, which together contributed more than half of total revenue.

On the Ho Chi Minh Stock Exchange, VIC shares closed Wednesday at VND214,000 ($8.12) apiece.