After a long absence following the arrest and imprisonment of its chairman, Do Anh Dung, on fraud charges in 2022, Tan Hoang Minh Group has recently made a surprising comeback in the real estate market.
The company has been making notable moves, from commencing new projects in Hanoi to piloting commercial housing construction in Khanh Hoa and proposing a smart city project in Da Lat.
In March 2025, Tan Hoang Minh Group and Cong Ty Co Phan Tong Bach Hoa officially commenced the Greenera Southmark residential project at 486 Ngoc Hoi Street in Thanh Tri district, Hanoi. The project covers an area of 2.5 hectares and comprises three luxury apartment buildings. It is one of the few apartment projects to receive investment approval from the Hanoi People’s Committee in 2024.
In April 2025, after serving his prison sentence and receiving a pardon, Mr. Do Anh Dung resumed his role as Chairman of Tan Hoang Minh Group. His return marked a significant turning point, bringing new energy to the company.
Just over a month later, in early June 2025, the Group registered to pilot the construction of commercial housing in Khanh Hoa with the Tan Hoang Minh Mixed-use Office, Commercial, and Luxury Apartment project, spanning an area of 0.7 hectares and with an expected investment of VND 1,800 billion.
Mr. Do Anh Dung, Chairman of Tan Hoang Minh Group (left), and Mr. Tran Hong Thai, Chairman of Lam Dong Provincial People’s Committee. (Source: Lam Dong Newspaper)
On June 3, the leaders of the Lam Dong Provincial People’s Committee met with Tan Hoang Minh Group to discuss the concept planning of a smart city project integrating high technology, eco-tourism, and an international-standard film studio in Xuan Tho, Da Lat. The project’s surveyed area covers approximately 4,320 hectares.
Notably, this is a restart after the Lam Dong Provincial People’s Committee had approved the planning research in 2021 but temporarily halted it later. As proposed, the smart city will comprise eight different functional subdivisions, attracting residents from across the country.
In addition, Tan Hoang Minh Group and Xuan Thien Group have also proposed to research, survey, and develop the Closed-Loop Circular Agriculture Complex in Lam Dong province.
FLC Premier Parc Project. (Source: cafef.vn)
Another industry giant, FLC Group, is also showing signs of returning to the real estate market. Despite the upcoming appellate trial of its former chairman, Mr. Trinh Van Quyet, FLC Group continues to forge ahead with new real estate ventures. On June 3, 2025, the group held a kick-off ceremony for the Hausman Premium Residences project in the FLC Premier Parc urban area in Dai Mo ward, Nam Tu Liem district, Hanoi.
Previously, in April 2025, Binh Dinh province agreed to allow FLC Group to research and develop the concept of an airport urban area in Cat Tan commune, Phu Cat district. The research and survey period is expected to last for two months. During this process, FLC Group must coordinate closely with the provincial authorities and relevant agencies to ensure compliance with regulations and address issues related to national defense, security, environmental protection, and social welfare.
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The eastern urban area of Da Lat, as per the 704 Plan, is envisioned by Tan Hoang Minh to become a bustling hub with a proposed project encompassing 1,700 ha and accommodating approximately 70,000 residents.
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The Tan Hoang Minh Group envisions an innovative future for the eastern region of Dalat. With a keen interest in urban development, the group aspires to create a smart city incorporating cutting-edge technology, a tourism hub, and a vibrant film studio complex. This ambitious project aims to revolutionize the area, offering a unique blend of modern conveniences, stunning natural surroundings, and a thriving creative industry.
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The land market in Quoc Oai saw a significant surge in asking prices during the first few months of 2025. Despite this, actual transactions have been rather scarce.
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The real estate industry leaders in Hanoi predict that condo prices have peaked and cannot rise further as they have surpassed what buyers can afford. Prices are expected to stagnate until the end of 2025 and then enter a prolonged downward cycle, with the bottom falling out in the 2028-2030 period.
