Vinhomes spends $482 mln to establish 2 real estate firms
Vinhomes, a subsidiary of Vietnam’s largest private conglomerate Vingroup, has approved the decision to establish two real estate companies in Hung Yen province, with total charter capital exceeding VND11,433 billion ($482 million).
Vinhomes Central Park in the Tan Cang area, Ho Chi Minh City. Photo courtesy of the company.
Accordingly, Truong Loc Real Estate Development and Investment Co., Ltd., located in the Dream City ecological urban area in the northern province of Hung Yen, will have a charter capital of nearly VND4,425 billion ($186.67 million), with Vinhomes holding a 99.9% stake.
The second, Phat Dat Real Estate Development and Investment Co., Ltd., located in the Dai An urban area in Van Giang district, Hung Yen, will have charter capital of more than VND7,008 billion ($295.63 million), with Vinhomes' ownership rate at 99.9%.
As of December 31, 2022, Vinhomes has 34 subsidiaries, of which two are in the process of dissolution, namely Ecology Development and Trading JSC and Phu Gia Real Estate Trading Co., Ltd.
Vinhomes recently announced the transfer of its entire stake in Lang Van Development and Investment JSC to Vingroup. The company owns the Lang Van tourist and entertainment complex project with total investment of about $1.5 billion. After the transfer, Vinhomes will continue to implement the above project as planned.
Vinhomes reported after-tax profit of VND29 trillion ($1.24 billion) in 2022, down 25% year-on-year. Its consolidated net revenue was VND62,392 billion ($2.66 billion), down 26%.
Vinhomes JSC, listed on the HCMC Stock Exchange as VHM, is one of Vietnam’s largest real estate developers. It has been a pioneer in building and operating large-scale residential projects.
As of December 31, 2022, Vinhomes's total assets stood at VND361,200 billion ($15.4 billion), up 57% compared to the beginning of the year. Of this, cash and cash equivalents were more than VND14,700 billion ($626.86 million), up 53% thanks to the successful launch of the Vinhomes Ocean Park 2 - The Empire project.
Stable cash sources have helped Vinhomes proactively accelerate the construction and further development of major projects and reduce dependence on loans. As a result, net debt only accounted for about 14.4% of equity.
By the end of Q4/2022, Vinhomes' equity stood at VND148,400 billion ($6.33 billion), up 13% compared to the beginning of the year.
- Related News
- Read More
Indonesia eyes trilateral data-center tie-up with Singapore, Malaysia
Indonesia is in talks with Singapore and Malaysia to develop a cross-border data-center network linked to its Green Super Grid.
Southeast Asia - Fri, November 28, 2025 | 9:57 pm GMT+7
Malaysia’s export growth expected to slow in 2026
Despite Malaysia’s trade growth in October 2025 surpassing expectations, with both exports and imports reaching record levels, economists warned that the country’s export expansion may slow in 2026.
Southeast Asia - Fri, November 28, 2025 | 9:53 pm GMT+7
Singapore promotes methanol use for bunkering
The Maritime and Port Authority of Singapore (MPA) will issue licences to supply methanol as marine fuel in the Port of Singapore from January 1, 2026, following the Call for Applications launched in March 2025.
Southeast Asia - Fri, November 28, 2025 | 9:46 pm GMT+7
Vietnam's tour operator Vietravel announces full exit from Vietravel Airlines
Vietravel, one of Vietnam’s largest tour operators, will divest its entire stake in Vietravel Airlines by year-end, drawing a close to its turbulent venture into aviation during five years.
Travel - Fri, November 28, 2025 | 9:22 pm GMT+7
VinSpeed, Thaco vie for investment role in North-South high-speed railway
Several major Vietnamese companies, including Vingroup subsidiary VinSpeed and automaker Thaco, are vying for a role in Vietnam’s gigantic North-South high-speed railway project.
Infrastructure - Fri, November 28, 2025 | 5:14 pm GMT+7
Finnish fund PYN Elite raises VN-Index forecast to 3,200 points
PYN Elite (Finland), one of the largest foreign funds in the Vietnamese stock market, has revised up its forecast for the benchmark VN-Index to 3,200 points, much higher than the 1,690.99 recorded on Friday.
Finance - Fri, November 28, 2025 | 4:49 pm GMT+7
Mind the gap
Without stronger digital and physical networks, global productivity will falter at precisely the moment the world needs new engines of growth, writes Benjamin Hung, president, International, Standard Chartered.
Consulting - Fri, November 28, 2025 | 3:49 pm GMT+7
Alliance claiming $100 bln investment for trans-Vietnam high-speed railway 'uncontactable'
An alliance between Mekolor, a relatively unknown Vietnamese company, and American entity Great USA, which claimed it could mobilize $100 billion for the North-South high-speed railway project, could not be contacted, said standing Deputy Prime Minister Nguyen Hoa Binh.
Infrastructure - Fri, November 28, 2025 | 3:19 pm GMT+7
Mitsui eyes new opportunites in Vietnam's energy sector, projects related to carbon emission reduction
Mitsui & Co., Ltd. plans to expand its investment in Vietnam in the energy sector and projects related to carbon emission reduction, president and CEO Kenichi Hori told Prime Minister Pham Minh Chinh at a Thursday meeting in Hanoi.
Industries - Fri, November 28, 2025 | 2:39 pm GMT+7
Russian heavyweight Zarubezhneft seeks to build energy center in Vietnam
Zarubezhneft, a wholly state-owned oil & gas group of Russia, wants to develop an energy center in Vietnam, as it seeks to expand into other fields including energy and minerals.
Energy - Fri, November 28, 2025 | 1:08 pm GMT+7
Carlsberg Vietnam accelerates its path toward net-zero emission in production by 2028 with stronger renewable-energy commitments
As Vietnam advances toward its 2050 net-zero vision, businesses are expected to play a decisive role in enabling the country’s green transition. At the Green Economy Forum 2025, Carlsberg Vietnam shared how a long-standing FDI enterprise is reshaping its operations and energy strategy to align with Vietnam’s sustainability goals.
Companies - Fri, November 28, 2025 | 11:52 am GMT+7
PV Power says profit may fall in 2026 despite higher output due to extreme weather
PV Power (HoSE: POW), a subsidiary of state-owned energy giant Petrovietnam, expects electricity output to rise next year, but says profit may decline from this year’s strong results due to increasingly erratic weather conditions.
Companies - Fri, November 28, 2025 | 9:00 am GMT+7
Decoding the attraction of 'A.I Real Combat' contest broadcast on Vietnam Television
Vietnam’s first national artificial intelligence competition, 'A.I Thực chiến' (A.I Real Combat), aired its opening round at 8 p.m. Wednesday on state broadcaster VTV2, with a rebroadcast on VTV3 two days later.
Companies - Thu, November 27, 2025 | 8:17 pm GMT+7
Foxconn Industrial Internet’s Vietnam revenue jumps 83% on automation, digitalization: CEO
Foxconn Industrial Internet (FII), a unit of Taiwanese electronics giant Foxconn, saw revenue from its new-technology applications in Vietnam rise 83% in the past fiscal year while headcount increased only 20%, driven by automation and digitalization.
Companies - Thu, November 27, 2025 | 4:56 pm GMT+7
SHB bank sees development drivers from capital-raising strategy, opportunities to attract foreign inflows
The upcoming capital-hike strategy is expected to position Saigon-Hanoi Bank (SHB) among the Top 4 private banks in Vietnam by charter capital, helping the lender maintain its competitive advantage via robust capital strength.
Banking - Thu, November 27, 2025 | 4:33 pm GMT+7
Vietnam's consumer finance major F88 launches first public bond issuance with 10% annual coupon
F88, a leading consumer finance company in Vietnam, has received regulatory approval for its first public bond issuance, offering a fixed annual coupon of 10% - a level seen as attractive amid low bank deposit rates and softer corporate bond yields.
Companies - Thu, November 27, 2025 | 4:16 pm GMT+7
