The Scale of 18 Enterprises Selected by the Ministry of Construction for Social Housing Projects

One of the first enterprises mentioned by the Ministry of Construction is Vingroup, a leading private conglomerate in Vietnam today.

According to the consolidated financial report for Q2/2025, Vingroup’s net revenue reached VND 46,312 billion, a 9% increase year-over-year, with post-tax profit at VND 2,265 billion, up 31% year-over-year. Consolidated post-tax profit for the first half of 2025 hit VND 4,509 billion, a 120% surge. As of June 30, 2025, Vingroup’s total assets stood at VND 964,439 billion, a 15% rise compared to December 31, 2024.

Vingroup boasts a diverse ecosystem spanning multiple sectors. VinFast, its technology and industrial pillar, saw a remarkable performance in the first six months, delivering 72,167 electric vehicles globally, a 3.2-fold increase year-over-year. Domestically, VinFast maintained its market leadership with 67,569 vehicles delivered.

Vinhomes continued to spearhead the real estate market recovery, achieving sales of VND 67,500 billion and unrecorded sales of VND 138,200 billion by the end of Q2/2025.

In the tourism and hospitality sector, Vinpearl reported robust operational revenue of VND 7,900 billion.

Vingroup also made significant strides in other ecosystem sectors, including education and healthcare.

Another enterprise selected by the Ministry of Construction is Sun Group. On September 6th, the group officially increased its charter capital from VND 10,828 billion to VND 22,628 billion, adding VND 11,800 billion, equivalent to nearly USD 900 million.

Sun Group operates across multiple sectors, focusing on tourism, entertainment complexes, luxury real estate, infrastructure development, and financial services. It has created world-class projects such as Bà Nà Hills, Fansipan Cable Car, Golden Bridge, and various Sun World entertainment complexes.

Recently, Sun Group was selected by Quang Ninh Province as the investor for a complex tourism service project with a casino in Vân Đồn, spanning over 244 hectares with a total investment of USD 2 billion.

In Khanh Hoa, Sun Group is simultaneously developing two high-end urban projects, Tu Bông and Đầm Môn, covering 4,019 hectares with a total investment of over VND 68,600 billion.

In Kien Giang, Sun Group’s subsidiary, Mat Troi Airport, was tasked with expanding Phu Quoc International Airport to meet growing tourism demands and prepare for APEC 2027.

Expanding beyond real estate and infrastructure, Sun Group ventured into aviation. On August 19th, Sun PhuQuoc Airways welcomed three new Airbus aircraft, bringing its fleet to eight this year. The airline plans to start ticket sales in October and launch its first commercial flight in November 2025.

In addition to Vingroup and Sun Group, several other industry leaders were selected by the Ministry of Construction, including: Housing and Urban Development Corporation (HUD); Hanoi Construction Corporation (HANCORP); Corporation 319 – Ministry of Defense; Nam Long Investment Corporation; Becamex IDC Corporation; and Vinaconex Corporation (VCG).

The Housing and Urban Development Corporation (HUD), established in 1989 under the Ministry of Construction, has developed 25 new urban areas nationwide, providing over 8 million m² of housing, catering to tens of thousands of households, including many low- and middle-income families and social policy beneficiaries. HUD has completed over 250,000 m² of social housing.

HANCORP is renowned for constructing significant political, military, economic, and defense projects, including the Ho Chi Minh Mausoleum, Ho Chi Minh Museum, Ba Dinh Hall, Hanoi Opera House, West Lake International Hotel, Hanoi Tower, Daewoo Hotel, National Convention Center, KEANGNAM Tower, and ROYAL CITY.

Nam Long Investment Corporation is known for its new urban areas such as Akari City, Mizuki Park, Waterpoint, Nam Long Hai Phong, Nam Long Can Tho, Nam Long Dai Phuoc, Izum City, and Nam Long 2 Can Tho, as well as projects like Flora Anh Đào, Flora Fuji, Flora Kikyo, and Flora Novia.

Vinaconex Corporation (VCG) is another construction industry leader. In the first half of 2025, Vinaconex’s net revenue reached VND 7,008 billion, up 28.3% year-over-year, with post-tax profit at VND 508 billion, achieving 42.3% of its annual profit target.

Vinaconex is currently developing major projects such as Green Diamond at 93 Lang Ha (Hanoi); urban residential projects at Km3 and Km4 (Quang Ninh); and selling units in the Dai Lo Hoa Binh Urban Area (Quang Ninh) and the Cai Gia Cat Ba Amatina New Urban Area (Hai Phong).

Other selected enterprises by the Ministry of Construction are well-established real estate players, including: Thanh An Corporation (Division 11); Truong Son Construction Corporation (Division 12); Kinh Bac Urban Development Corporation; UDIC Urban Infrastructure Development Investment Corporation; Duc Manh Construction and Trading Company; TasecoLand; Cat Tuong Corporation; Capital Investment and Trading Corporation; and Construction Corporation No. 1 (CCI).

Truong Son Construction Corporation is recognized for its involvement in major projects such as the My Thuan – Can Tho Expressway Phase 1, Cam Lo – La Son section of the North-South Expressway, Ho Chi Minh City – Long Thanh – Dau Giay Expressway, and Cau Gie – Ninh Binh Expressway. Truong Son also participated in consortia winning bids for the Tan Son Nhat International Airport and Long Thanh Airport Phase 3 projects.

TasecoLand is involved in projects like the Alacarte Ha Long Mixed-Use Building (Quang Ninh); a hotel, office, and shopping center complex in the Tay Ho Tay Urban Area – Starlake (Hanoi); four projects in Thanh Hoa; four projects in the Diplomatic Corps Urban Area (Hanoi); and projects in Hung Yen, Quang Binh, Hoa Binh, and Hue.