Hacom Holdings Ventures into Affordable Housing with a $38 Million Social Housing Project in Lao Cai

In late October, the People’s Committee of Lao Cai Province approved the investment policy and designated Hacom Lao Cai Investment Joint Stock Company as the developer for the Yen Ninh Social Housing Project in Yen Bai Ward. The project boasts a total investment capital of nearly 900 billion VND.

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Spanning over 2.2 hectares, the project includes 8,660 m² dedicated to social housing, more than 9,000 m² for transportation and technical infrastructure, and over 4,400 m² of green space. The anticipated population is approximately 2,166 residents.

The development features five residential buildings, offering a total of 807 apartments. With a total investment of nearly 865 billion VND, the project is funded by a combination of the developer’s contribution of 190 billion VND and mobilized capital.

The project has a 50-year operational period and is expected to be completed within 30 months from the date of land allocation or lease.

Who is Hacom Lao Cai?

Hacom Lao Cai Joint Stock Company was established on February 6, 2024, headquartered in Lao Cai ward, specializing in real estate. With an initial charter capital of 120 billion VND, the company has three founding shareholders: Hacom Holdings (75.2%), Thanh Dong Ninh Thuan (18.8%), and Mr. Tran Phu Chien (6%). Mr. Pham Ngoc Minh serves as both Chairman and legal representative. By October 2024, the company increased its capital to 170 billion VND, followed by another increase to over 310 billion VND in November of the same year.

Thanh Dong Ninh Thuan Joint Stock Company, founded in October 2013 with an initial charter capital of 150 billion VND, increased its capital to nearly 173 billion VND in March 2014. Its ownership structure includes Thanh Dong Real Estate Investment (51%), Mr. Tran Phu Chien (40%, also the legal representative), and Ms. Tran Thi Thu Thuy (9%). By July 2025, the company’s capital was raised to 775 billion VND, with Mr. Tran Dai Nghia as Director and legal representative.

Hacom Holdings, established in 2005 and headquartered in Hanoi, had a charter capital of 336 billion VND in August 2017, which was later increased to 4,000 billion VND and then adjusted to 3,000 billion VND in December 2024. Mr. Tran Phu Chien has been the CEO and legal representative since then.

Mr. Tran Phu Chien not only leads but also represents several subsidiary companies, including Petrolimex Lam Dong Service and Trading Joint Stock Company and Hacom Bac Lieu Energy Joint Stock Company…

Mr. Tran Phu Chien – CEO and Legal Representative of Hacom Holdings

Initially focused on construction, Hacom Holdings has since expanded into real estate, hospitality, and renewable energy.

Notable real estate projects include the Hacom Galacity Social Housing in the new urban area of Northeast (K1 zone), Phan Rang – Thap Cham City, Ninh Thuan Province, covering 1.14 hectares with 800 social housing units and a total investment of 600 billion VND, completed in April 2022. Another project is the Social Housing on the left bank of the Red River in Van Hoa Commune, Lao Cai City, Lao Cai Province, spanning 16.6 hectares with approximately 745 apartments and a total investment of 562 billion VND.

In the energy sector, key projects include the Hoa Binh 5 Wind Power Plant – Phase 1 with a capacity of 80MW in Vinh Thinh, Vinh Hau, Hoa Binh District, Bac Lieu Province, with an investment of 3.7 trillion VND, operational since October 2021. The Hacom Solar 50MW Solar Power Plant, with an investment of nearly 1.2 trillion VND, began operations in October 2019.

Thanh Tu

– 13:06 14/11/2025

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