This information was stated by ACB Securities Company in a report on Vinhomes, dated February 17th. In addition to ongoing projects, according to ACBS, Vinhomes is expected to launch four new projects this year, including Vinhomes Apollo City (Quang Ninh), Wonder City (Dan Phuong, Hanoi), Duong Kinh (Hai Phong), and Phuoc Vinh Tay (Can Giuoc, Long An).
Among these, Apollo City, located in Quang Yen town and Ha Long city, Quang Ninh, is the largest, with an area of 5,540 hectares. The projectโs legal name is Ha Long Xanh Complex Urban Area, adjacent to the Hai Phong – Ha Long – Van Don expressway.
ACBS’s analysis team stated that Vinhomes has almost completed the site clearance for this project, with approximately 90% finished. “The developer may launch the low-rise subdivision in 2025,” ACBS noted.
The Ha Long Xanh Complex Urban Area has a total investment capital of over VND 230,000 billion (nearly USD 10 billion). This is also one of Vinhomes’ largest real estate projects in terms of scale and capital.
The Duong Kinh project in Hai Phong is also located adjacent to the 5B expressway โ a crucial route connecting the locality with Hai Duong, Hung Yen, and Hanoi. The Duong Kinh urban area has a scale of approximately 240 hectares, located in Hoa Nghia ward, Duong Kinh district, and two communes, Dong Phuong and Dai Dong, Kien Thuy district. The total investment for the project is over VND 23,200 billion.
In an environmental impact assessment report earlier last year, Vinhomes stated that it could start trial operations of the urban area from 2026 after completing items such as transportation infrastructure, housing projects, and schools. The project may be completed in the second half of 2029.
Regarding Wonder City in Dan Phuong district, Hanoi, this project was included in the district’s land use plan for this year since the end of January. This urban area has an area of approximately 123 hectares, including apartment, villa, and townhouse products. In a previous report, Vietcap Securities also stated that brokers have started advertising this project and it is expected to launch in the first half of this year.
In the South, the Phuoc Vinh Tay urban areaโs environmental impact assessment report was recently released by the developer (Vinhomes – VIG joint venture) for public consultation a few days ago.
This urban area has a land use scale of nearly 1,090 hectares, located in Phuoc Vinh Tay commune, Can Giuoc district, Long An province. According to the plan, the project will have 7,050 adjacent houses, nearly 8,200 villas, 13,440 social housing units, and 2,370 low-rise resettlement houses. The population scale of this urban area is nearly 90,000 people. The investment capital for the project is approximately VND 80,079 billion (over USD 3 billion). The entire urban area may be completed by the end of 2030.
At an event in December 2024, Mr. Pham Anh Khoi, Vinhomes’ Investment Director, announced that the company will launch a large volume of products in the North (Hanoi, Hai Phong) and the South in suburban areas of Ho Chi Minh City, such as Long An and Can Gio.
Last year, Vinhomes achieved consolidated revenue (including revenue from the company’s operations and business cooperation contracts) of VND 141,812 billion, up 13% compared to 2023. The company’s consolidated profit after tax was VND 35,052 billion, equivalent to USD 1.4 billion, up 4.5%. However, ACBS forecasts that the after-tax profit of this real estate developer this year may reach VND 33,800 billion.
According to statistics from some analysis units, by last year, Vinhomes owned a land bank of over 18,000 hectares. This scale may be sufficient for the enterprise to carry out projects for the next 30 years.
