Recently, the news that four major commercial banks with a combined capitalization of over 1.3 trillion VND—Vietcombank, BIDV, VietinBank, and VPBank—have officially partnered with borrowers in a large-scale resort urban project in Hoi An has captured the attention of investors.
Endorsement from Pillar Banking Institutions
In lending activities, banks play a critical role as stringent “asset and legal evaluators” for clients. Before approving a loan, banks conduct a comprehensive assessment of legal documents, asset value, and the developer’s reputation and execution capabilities. Given their substantial financial scale, the involvement of leading banks significantly enhances the credibility of the asset.
Vietcombank, BIDV, VietinBank, and VPBank are among Vietnam’s top commercial banks, boasting impressive financial metrics. As of late 2024, BIDV’s total assets reached approximately 2.76 trillion VND, with pre-tax profits exceeding 30 trillion VND. VietinBank reported total assets of over 2.39 trillion VND, credit balances of more than 1.7 trillion VND, and consolidated pre-tax profits of over 31.7 trillion VND. Vietcombank surpassed 2 trillion VND in total assets, with equity nearing 196 trillion VND, maintaining its position among the largest capitalized companies on the stock exchange. Meanwhile, VPBank, a leading private retail bank, exceeded 1.1 trillion VND in total assets by mid-2025, solidifying its leadership in personal and SME lending.
Notably, the direct participation of three state-owned banks—Vietcombank, BIDV, and VietinBank—in financing the project carries significant weight. These institutions are cornerstone financial entities, commanding the largest shares of credit and deposits in the system, and applying the most rigorous evaluation standards. Their unanimous decision to lend underscores that the project fully meets legal requirements, is transparently valued, and possesses robust financial viability.
Beyond their evaluative role, the banks offer attractive loan packages. VietinBank provides loans up to 75% of the property value, with a 24-month principal grace period and a 35-year loan term. Vietcombank, BIDV, and VPBank also offer support packages covering up to 70% of the property value. These concrete figures reflect a genuine commitment, going beyond mere promises.
In a volatile market marked by currency depreciation, these bank loan packages serve as financial leverage, enabling customers and investors to acquire assets with long-term accumulation and sustainable growth potential.
Legal Foundation and Value Proposition of the Resort Urban Project That Meets the Rigorous Standards of Four Banks
The project benefiting from the partnership of the aforementioned four banks—Vietcombank, BIDV, VietinBank, and VPBank—is The An Heritage, an integrated resort urban development in Hoi An.
The An Heritage (legally known as the North Hoi An Commercial and Service Urban Area) was approved by the Quang Nam Provincial People’s Committee in Detailed Construction Plan Decision No. 4615/QD-UBND dated December 4, 2015, and received investment approval via Official Letter No. 5559/UBND-KTN dated June 9, 2016. The developer, North Hoi An Urban Development Company Limited, is a member of FANAÉ Group, established in 2010 and renowned for numerous real estate projects in Central Vietnam.
During implementation, the project fulfilled its financial obligations for land use fees as per Notification No. 9094/TB-CT dated November 22, 2019, obtained a land use rights certificate in 2021, and was certified to sign future housing purchase agreements from September 20, 2021.
On January 10, 2025, the Quang Nam Department of Construction issued Document No. 52/SXD-QLHT, confirming that Phase 1 technical infrastructure of the North Hoi An Commercial and Service Urban Area (The An Heritage) had been completed and accepted according to regulations. Multiple adjacent housing units were also approved for acceptance between 2021 and 2023. The document affirms the project’s eligibility for land use rights and property ownership certificates for transferees, establishing a critical legal foundation in compliance with current laws.
On-site, most units at The An Heritage have completed rough construction, while 15 swimming pools, internal parks, sports facilities, and an international school are operational. Additional amenities such as restaurants, gyms, healthcare centers, and conference areas are under development, creating a comprehensive ecosystem catering to both residential and commercial needs.
Completed amenities at The An Heritage now in use
Beyond infrastructure and amenities, The An Heritage’s strategic location is a key advantage. Situated on Lac Long Quan Street—a coastal route connecting Central Vietnam’s tourism hubs—the project borders the Co Co River, is near An Bang Beach, and offers easy access to Hoi An’s Old Town. Direct connections to new infrastructure like Nguyen Duy Hieu Bridge and Nguyen Chi Thanh Road facilitate transportation and development in North Hoi An’s coastal area. With its evolving landscape, tourism infrastructure, and transportation networks, The An Heritage is poised to attract residents, tourists, and investment to Hoi An.
The convergence of three factors—transparent legal frameworks, developer capabilities, and growth potential—underscores The An Heritage’s value, explaining the unified support from four major banks during a period of stringent market scrutiny.
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