According to the Q3/2025 consolidated financial report of Vincom Retail (HoSE: VRE), the company has allocated VND 6.2 trillion as a deposit for business purposes with Can Gio Tourism Urban Area JSC, a subsidiary of Vingroup and the developer of the Can Gio Coastal Tourism Urban Area project (Vinhomes Green Paradise).
Previously, in late June, Vincom Retail signed a deposit agreement with Can Gio Tourism Urban Area to acquire a portion of the Vinhomes Green Paradise expansion project, aimed at developing the company’s commercial land fund.
With this deposit, the total value of Vincom Retail’s advances and deposits for pending projects reached over VND 24 trillion, accounting for approximately 40% of the company’s total assets as of September 30, 2025.
Vinhomes Green Paradise is considered the largest real estate project in Ho Chi Minh City in 2025, spanning 2,870 hectares—three times the size of the former District 1. With a total investment of approximately USD 10 billion, the project is planned to accommodate a population of 230,000, three times that of the former Can Gio District.
Strategically located with three sides facing the sea, Vinhomes Green Paradise is envisioned as Vietnam’s first “city on the sea.” Its most iconic feature is a 108-story tower reaching 550 meters, set to become the world’s tallest coastal building. Upon completion, it will also hold the record for Vietnam’s tallest structure, leading Southeast Asia and ranking among the top 10 globally.
Additionally, the project includes the Blue Waves Theatre, designed by the renowned architecture firm Gensler, covering 7 hectares with a 5,000-seat capacity—the largest in Southeast Asia. Other notable features are the 443-hectare Paradise Lagoon, the international marina Landmark Harbour, two 18-hole golf courses, and a 122-hectare entertainment complex featuring a Safari park, Disneyland- and Universal-style theme parks, and the 30,000 m² Winter Wonderland indoor ski resort—ranked among the world’s top 5.
Approved by the Ho Chi Minh City People’s Committee in March 2025, the project’s 1/500 detailed plan divides it into five zones (A, B, C, D, and E), ranging from 318 to 960 hectares. Construction began on April 19, 2025, led by Can Gio Tourism Urban Area JSC.
Alongside the nearly 3,000-hectare megacity, Ho Chi Minh City is accelerating the development of bridges, roads, and metro lines toward the sea, gradually establishing Can Gio as a new economic and tourism gateway for the city.
Vinhomes Green Paradise is recognized as Ho Chi Minh City’s largest real estate project in 2025.
In Q3/2025, Vincom Retail reported net revenue of over VND 2.2 trillion, an 8% increase year-on-year. Rental income and related services reached VND 2.1 trillion, driven by improved occupancy rates across its shopping centers and contributions from new 2024–2025 launches.
After deducting expenses, Vincom Retail achieved a post-tax profit of nearly VND 1.4 trillion, up 52% year-on-year.
For the first nine months, the company generated VND 6.525 trillion in revenue and nearly VND 3 trillion in post-tax profit, fulfilling 69% of its annual revenue target and 81% of its profit goal.
Currently, Vincom Retail operates 89 shopping centers nationwide, maintaining its position as Vietnam’s largest retail real estate brand.
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