Prime Land Remains Untapped After Nearly a Decade
Last week, the consortium of Sunshine Group Joint Stock Company (Sunshine Group) and DIA Investment Joint Stock Company (DIA) submitted a proposal to the Ho Chi Minh City People’s Committee to continue the Thu Thiem Eco Smart City project in the new Thu Thiem urban area, An Khanh Ward. This move follows Lotte Group’s (South Korea) formal request to terminate the contract for the project, which had a total investment of VND 20.1 trillion.
Once envisioned as a new symbol of Thu Thiem, the project has remained stalled at the land reclamation and fencing stage for nearly eight years due to prolonged financial obligations and legal procedures.
Notably, just before proposing to replace Lotte, the Sunshine-DIA consortium also sought to participate in the auction of 3,790 Thu Thiem resettlement apartments—a housing fund that had failed to sell multiple times due to its high starting price, deterring many investors.
Their consecutive appearances at two of Thu Thiem’s “hotspots” demonstrate the consortium’s ambition and capacity to deepen their involvement in an area poised to become Ho Chi Minh City’s new central hub.
What Role Does DIA Investment Play in Sunshine Group’s Ecosystem?
Alongside the well-known Sunshine brand in luxury real estate, DIA Investment’s presence in the consortium has drawn attention. DIA is a subsidiary within Sunshine Group’s ecosystem, currently developing multiple industrial and commercial real estate projects in Hanoi.
Notable examples include the “New Lifestyle Urban Area – New Style City” (commercial name: Noble Palace Tay Thang Long), featuring nearly 2,500 European-style townhouses, and the “Dan Phuong High-End Eco-Urban Area” (commercial name: Noble Palace Garden), comprising 630 luxury villas and garden estates. Both projects are located along the Tay Thang Long axis and are expected to generate approximately VND 70 trillion in revenue for Sunshine Group between 2025 and 2026.
Spanning over 70 hectares between Ring Road 4 and 3.5, adjacent to the Tay Thang Long Boulevard, Noble Palace Tay Thang Long is a premier urban development pioneering AI integration for operations and commercial growth. Its 5-star amenities are managed to international standards.
Nearly 2,500 townhouses at Noble Palace Tay Thang Long are under synchronized development, with handover scheduled from Q4/2025.
Located directly on Tay Thang Long Boulevard, Noble Palace Garden features nearly 630 luxury villas and garden estates, designed in a “Da Lat in the Heart of Hanoi” style.
Sunshine Group is recognized as one of Vietnam’s leading private economic conglomerates, with a diverse ecosystem spanning real estate, technology, education, healthcare, and digital assets. The group is associated with numerous high-end projects in Ciputra – West Tay Ho, Tay Thang Long, East Hanoi, and Ho Chi Minh City.
A key aspect of Sunshine Group’s strategy is its ability to acquire and restructure previously delayed projects due to former developers’ limitations. The group then accelerates development, delivering unique market value to end-users.
Notable projects include Noble Crystal Tay Ho WorldHotels Residence, Noble Palace Tay Thang Long, Noble Crystal Long Bien, and most recently, Sunshine Legend City and Alluvia Sunshine Grand City, which collectively supply nearly 20,000 high-quality, competitively priced apartments.
Sunshine Legend City offers nearly 8,000 luxury apartments delivered to 5-star standards, priced 20–25% below market rates. Its first launch sold out 1,067 units within 5 hours, creating a new frenzy in East Hanoi’s market.
Observers view the interest from prominent entities like Sunshine Group and DIA Investment in Thu Thiem as a positive sign. Their expertise in managing complex projects and substantial resources could revitalize stalled key initiatives, preventing land resource wastage amid rising property prices and supply shortages.
However, realizing these expectations hinges on legal clarity and government support to avoid repeating the decade-long “suspended project” scenario.
Sunshine Group Post-Restructuring: Second-Highest Market Cap in Real Estate, Full-Year Profit Projected at VND 14 Trillion, Surpassing Shareholder Meeting Targets
With projected post-tax profits of approximately VND 14,000 billion in 2025, an 18-fold increase from the previous year, Sunshine Group is poised to achieve a breakthrough growth driven by its comprehensive restructuring efforts. This remarkable performance underscores the effectiveness of the Group’s strategic focus on large-scale economic consolidation and ecosystem integration, surpassing all expectations.
Usually Tín Rides the TOD/TOC Wave: Real Estate Enters a New Growth Phase
Nestled in a prime location and bolstered by a slew of pivotal infrastructure projects aligned with Hanoi’s TOD and TOC development strategies, the real estate market in the former Hong Van commune, Thuong Tin district, is emerging as a high-potential growth hub. This presents a golden opportunity for savvy investors to capitalize on the early wave of development.
Ho Chi Minh City – Moc Bai Expressway: HCMC Chairman Urges Timely Completion for Traffic Opening
Surveying the Ring Road 3 project and the HCMC – Moc Bai Expressway, the Chairman of the HCMC People’s Committee has mandated that compensation plans must be finalized by October and November 2025.
Trương Mỹ Lan Case: Nearly VND 9,000 Billion Spent, Bondholders Still Anxious
Despite receiving nearly 30% of their compensation across four installments, tens of thousands of creditors in the Truong My Lan case remain anxious and eagerly await full payment.
Revolutionizing Southern Connectivity: Becamex Proposes Two Backbone Railway Lines
Becamex has proposed two “backbone” railway lines for the transportation system, including the Ho Chi-Minh City – Can Tho route, spanning approximately 174km, with a phase 1 investment capital of over 173.6 trillion VND.
