Vingroup, Masterise Group, Sun Group Enter the Race to Develop Railways, Highways, and Seaports, Transforming Infrastructure into a Powerful Tool to Boost Project Value

Recently, major conglomerates such as Vingroup, Masterise Group, and Sun Group, along with Van Phu Invest, have quietly shifted their strategies. Moving beyond traditional real estate development, they are now actively investing in transportation infrastructure, logistics, and urban development. This race underscores a clear trend: real estate and infrastructure are inseparable, with infrastructure serving as a critical tool to enhance project value, expand land funds, and connect economic regions.

Leading this race is Vingroup, founded by billionaire Pham Nhat Vuong, with a series of large-scale infrastructure projects spanning from the North to the South. The conglomerate is not building infrastructure merely for aesthetics but to enhance the value of its ecosystem. In megacities like Vinhomes Ocean Park (Hanoi) and Vinhomes Grand Park (Ho Chi Minh City), Vingroup has invested trillions of dong in internal road systems, overpasses, parks, and key transportation connections.

Vingroup’s infrastructure vision is realized through VinSpeed, a subsidiary established in May 2025 with a charter capital of 33 trillion dong, 51% owned by Pham Nhat Vuong. Each VinSpeed project is directly linked to land funds and real estate developments: The Hanoi – Quang Ninh railway (124 km, 153 trillion dong) will connect Vinhomes Global Gate (Vinhomes Co Loa) and Vinhomes Ha Long Xanh.

In the South, the Ho Chi Minh City – Can Gio route (48.7 km, 85.65 trillion dong) and the Can Gio – Vung Tau sea-crossing route directly link to the Vinhomes Green Paradise reclaimed urban area, transforming the pristine Can Gio into a high-end resort destination.

The maritime sector is also a focus: The Nam Do Son Port and Logistics Center (Hai Phong, 4,300 ha, 14.2 billion USD) and the Vinhomes Vung Ang Industrial Zone (Ha Tinh, 964 ha, 13.2 trillion dong) will serve as the “backend” for new industrial real estate, directly benefiting from the VinFast supply chain.

Additionally, VinSpeed has proposed numerous national infrastructure projects, notably the North-South high-speed railway spanning 1,541 km with a total investment of 67 billion USD, passing through 20 provinces and cities at a design speed of 350 km/h, featuring 23 passenger stations and 5 cargo stations. Scheduled for completion by 2035, VinSpeed aims to expedite the project, targeting operation by 2031, while leveraging land funds along the route to offset costs and create new urban corridors.

While Vingroup focuses on self-contained megacities, Masterise Group takes a different approach: “directly partnering with infrastructure.” Alongside luxury projects, Masterise is involved in expressway, airport, bridge, and metro projects, adopting the TOD (Transit-Oriented Development) model.

Its flagship project is the Gia Binh International Airport (Bac Ninh), with a total investment of over 195 trillion dong, meeting ICAO 4E standards, and a capacity of 50 million passengers and 2.5 million tons of cargo annually. Masterise contributes over 29 trillion dong (15%) and has established a subsidiary as the investor, aiming for a 5-star Skytrax certification. Upon completion, the airport will become the Northern aviation logistics hub, connecting Hanoi – Bac Ninh – Quang Ninh, while elevating the value of Lumiere Orient Pearl and Masteri Lakeside, transforming East Hanoi into an international connectivity center.

In the South, Masterise has proposed the Long Thanh – Ho Tram expressway (approximately 42 km, with an estimated investment of 20 trillion dong, expected to start in 2026), directly enhancing the value of The Grand Ho Tram and LUMIÈRE Boulevard.

Two critical bridge projects, Phu My 2 (16.7 km, over 21 trillion dong) and Can Gio Bridge (10–15 trillion dong), proposed by the company, will connect TOD zones, including Masteri Milennium and M-ONE Gia Dinh.

Over the years, Sun Group has heavily invested in strategic infrastructure in key tourism regions like Quang Ninh. Major projects, from airports and seaports to expressways, serve not only as transportation works but also as tools to elevate the value of its tourism and urban real estate projects.

In Quang Ninh, where Sun Group has significantly invested in infrastructure, projects such as the Ha Long International Passenger Port, Van Don International Airport, and the Ha Long – Van Don and Van Don – Mong Cai expressways have become crucial levers, reducing travel time from Hanoi to just 2–3 hours. As a result, projects like Sun World Ha Long Park, Sun Elite City, Sun Grand City Feria urban area, and Premier Village Ha Long Bay Resort have benefited, attracting high-end tourists and increasing rental exploitation efficiency.

Additionally, Sun Group is perfecting its aviation ecosystem through two brands: Sun Air and Sun PhuQuoc Airways. This combination helps Sun Group expand its stable and diverse customer base for its entire resort – entertainment – real estate system on the pearl island.

In Phu Quoc, Sun Group’s projects continue to directly benefit from its aviation strategy, including Sun World Hon Thom Paradise Island, Cau Hon, and Aquatopia Water Park; adjacent real estate projects like Sun Grand City Hillside Residence, Sun Premier Village Primavera, Sun Tropical Village, and Sun Grand City New An Thoi. In the north of the island, there is Sun Secret Valley.

Beyond these three giants, the race includes other major players like Thaco, proposing the Thu Thiem – Long Thanh railway (3.4 billion USD) and the North-South high-speed railway; and Van Phu Invest (VPI), proposing the “Construction of the Red River Riverside Avenue and Landscape” project in Hanoi, covering 11,000 ha with a capital of 300 trillion dong, implemented under the BT model with Deo Ca and VPBank.