Duc Giang Chemical Group Joint Stock Company (DGC) announced that Hanoi has approved the investment policy and investor for the Duc Giang Public Works, School, and Housing Complex project in Viet Hung Ward, Hanoi.
The project, proposed by Duc Giang Chemical Group, will be executed by Duc Giang Real Estate LLC, a wholly-owned subsidiary of the group.
Spanning 47,470 square meters, the development includes 60 townhouses with 1 basement and 5 above-ground floors, plus two 25-story apartment buildings totaling 880 units.
Additionally, the project features a 1.1-hectare school complex and a multi-functional public facility for commercial, office, and sports use.
Total investment is estimated at VND 4.5 trillion, fully funded by Duc Giang’s own capital. Construction is scheduled from 2025 to 2030.
At the 2025 Annual General Meeting in late March, Chairman Dao Huu Huyen expressed “little enthusiasm” for real estate ventures, stating the company is only proceeding because it already owns the land, not due to a desire to enter the sector.
After a 5-year wait for approval, the project is expected to generate approximately VND 5 trillion in revenue and VND 1 trillion in profit, with projected prices of VND 40 million/sqm for apartments and VND 100 million/sqm for townhouses.
Vietcap estimates the project will yield VND 413 billion in post-tax profit by 2027 and around VND 1 trillion by 2028, upon completion.
Chairman Huyen emphasized, “If everyone in Vietnam rushes into real estate, where will the country head? We aim to focus on manufacturing.”
Beyond the Viet Hung project, Duc Giang Chemical Group is considering a 3-hectare housing project in Hai Phong through Tia Sang Battery JSC, primarily to meet employee housing needs rather than commercial purposes.
Established in 1963 and privatized in 2003, Duc Giang Chemical is a leading producer of yellow phosphorus, phosphoric acid, fertilizers, detergents, and industrial caustic soda.
In Q1/2025, the company reported revenue of VND 2.816 trillion, up 10% year-on-year, with post-tax profit of VND 751 billion, a 6.3% increase.
For the first nine months of 2025, net revenue exceeded VND 8.521 trillion, up 14.4% from the same period in 2024. Post-tax profit reached over VND 2.532 trillion, a 9% rise.
These results represent 84.4% of the VND 3 trillion post-tax profit target set for 2025.
Project rendering courtesy of Duc Giang Chemical.
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