Mr. Tran Minh Chi and his wife, Mrs. Thai Ngoc Dung, rose to prominence as the founders of one of the largest economic groups in Southern Vietnam – Tran Thai Group (Tran Thai Real Estate Joint Stock Company) along with dozens of member companies in the fields of real estate, tourism, rubber tree planting, wood processing, and construction materials production.
On its website, Tran Thai Group states that the company has 5 projects in Ho Chi Minh City, all of which are high-end projects such as the Nam Rach Chiec Residential Area (Palm City), in collaboration with Tien Phuoc (Tien Phuoc Real Estate Joint Stock Company) – Keppel Land as the investor. This is one of the three resettlement areas of the program with 12,500 apartments for on-site resettlement for people who are relocated and cleared for the development of the new Thu Thiem Urban Area.
The Tran Thai Village project is a new urban area by the river, next to Phu My Hung, with an area of 13.6 hectares, built according to a closed-security model with a scale of 5,000 people, 90 villas, and 1,000 luxury apartments. Or the Phu An high-rise project with an area of 3.2 hectares in Linh Trung Ward, Thu Duc City. The Thu Thiem Observation Tower Complex (Empire City) is invested by the joint venture between Tran Thai and Tien Phuoc; Le Meridien high-rise is also invested by the joint venture between Tran Thai – Tien Phuoc – Production, Business, and Services Company 990.
Tran Thai Leadership beside the Empire City Project Model
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Not only that, but Tran Thai Group also owns a portfolio of tourism and resort projects in the “pearl island” of Phu Quoc and Cam Ranh such as Tran Thai Marina Resort & Villas – The Shells Resort & Spa Phu Quoc with an area of more than 41 hectares in Ganh Gio hamlet; Seashells Hotel with an area of more than 1.9 hectares; Tran Thai Cam Ranh Resort with an area of 27.5 hectares; Dong Ho Cultural Park and Eco-Village with an area of more than 33 hectares in Ha Tien.
Selling a resort project in Phu Quoc, moving on to Binh Duong
“Low-key” is probably the word to describe the couple, Mr. Tran and Mrs. Thai, especially in recent years. Standing behind high-end projects in Thu Duc such as Empire City and Palm City, but Tran Thai Group’s name rarely appears.
In 2022, Phu Quoc Tran Thai Joint Stock Company (formerly Phu Quoc Tran Thai One Member Limited Liability Company), the investor of the 1,500 billion VND The Shells Resort & Spa Phu Quoc project, suddenly changed its legal representative from Mr. Tran Minh Chi to Mrs. Le Ngoc Quynh Nhu. After the change in the “hot seat”, this resort project also simultaneously appeared in the list of “prominent projects” of Viet Capital Real Estate (VCRE) with a new name – The Shell. Mrs. Nhu is also a shareholder holding 98% of the capital and holding the position of General Director and legal representative of Garden Square Real Estate Joint Stock Company, a company headquartered in VCRE’s Viet Capital Center tower.
With the above movements, it cannot be ruled out that Tran Thai Group has sold the project to VCRE.
After 3 years of “silence”, at the beginning of 2025, the Tan Viet Phat Apartment project was approved by the People’s Committee of Binh Duong province for investment policy and investor for Tan Viet Phat Real Estate Joint Stock Company. The project has a total capital of over VND 3,200 billion.
It is known that Tan Viet Phat Apartment has an area of 2.38 hectares, located in Binh Thang ward, Di An city. The project is in the land use plan of Di An city from 2019, but up to now, it has not been implemented and the land use plan has been moved to 2025.
According to some information, the Tan Viet Phat project is expected to supply more than 1,800 apartments, with a population scale of nearly 4,000 people. The work consists of 4 buildings, 29 floors aboveground, 1 basement, and a maximum height of 107m. The construction density is 47% with a total construction floor area of 207,000 m2.
Tan Viet Phat Project Perspective
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Location of the land for the implementation of the Tan Viet Phat high-rise project in Di An city, Binh Duong province. Photo: Google map
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Tan Viet Phat Real Estate was established in 2000 under the initial name of Tan Viet Phat Trading and Service Company Limited; headquartered in Binh Thang ward, Di An city, Binh Duong province. With a charter capital of VND 150 billion, in which Mr. Tran Minh Chi holds 92.969%, and the rest is held by Mrs. Thai Ngoc Dung with 7.031%. At the end of 2018, Mrs. Dung’s capital was transferred to Mr. Tran Tuan Huy.
In September 2019, the Company changed its name to the current one. At the same time, the ownership structure changed when Mr. Chi held 95%, Tran Thai Gia Han One Member Limited Liability Company held 2.5%, and Mr. Huy held 2.5%. Up to July 2024, the Company has a capital of VND 793 billion, in which Mr. Chi is the Chairman of the Board of Directors and legal representative.
Tran Thai Gia Han was initially a business owned by Mr. Chi, operating in the fields of hotels, inns, and hostels. In August 2024, the enterprise was converted into Tran Thai Gia Han Limited Liability Company. The latest update in October 2024, the charter capital is VND 490 billion; in which Phu An Real Estate Joint Stock Company holds 88.796%, Mr. Chi holds 10.204%, and Mrs. Lam Thi Xuan Dao holds 1%. Mr. Chi still holds the position of Chairman of the Members’ Council from its establishment to the present.
Phu An Real Estate is also a business of Mr. Chi, established since 1997 with the founding shareholders including Mrs. Dung, Mr. Chi, and Mr. Huy. Currently, the company has a charter capital of VND 460 billion, in which Mr. Chi is the Chairman of the Board of Directors and Mr. Huy is the General Director.
Tien Vu
– 13:28 11/02/2025
