The trend of developing mega-urban areas spanning thousands of hectares is increasingly prevalent. According to Mr. Vo Hong Thang, Investment Director of DKRA Group, the two largest costs in a real estate project are land clearance and land use fees. Currently, real estate prices in central areas are rising rapidly, driving up project input costs.
As a result, businesses are forced to pursue two strategies: either develop high-rise projects in major cities like Hanoi, Ho Chi Minh City, Hai Phong, and Da Nang, or expand to areas 30-100 km from city centers, following the Transit-Oriented Development (TOD) model. Dr. Nguyen Van Dinh, Vice Chairman of the Vietnam Real Estate Association (VNREA) and Chairman of the Vietnam Real Estate Brokers Association (VARS), states that the entry of mega-projects into the market is an inevitable trend in real estate development.
Traditional small urban areas often lack quality and fail to meet residents’ living needs. Therefore, the development of mega-urban areas aims to replace outdated urban models, promoting modernity, civilization, and improved quality of life. In the future, urban projects may exceed 500-1,000 hectares in size.
Vinhomes leads the way in constructing mega-urban areas exceeding 1,000 hectares. In 2025 and 2026 alone, Vinhomes will commence four urban projects with a total investment of $40 billion. Including VinSpeed’s two high-speed rail lines, the total investment reaches nearly $50 billion—ten times the first phase of Long Thanh Airport, three-quarters of the North-South high-speed railway, and one-tenth of Vietnam’s 2024 GDP.
Below are the details.
1. Vinhomes Green Paradise – Can Gio’s Reclaimed Coastal Mega-City
Vinhomes Green Paradise in Can Gio (Ho Chi Minh City) is Vingroup’s first ESG++ project, with a total investment of over $9 billion (217 trillion VND). It is the group’s largest investment at the time of groundbreaking (April 2025).
Spanning 2,870 hectares—nearly four times the size of District 1—nearly half of the area is reclaimed from the sea. The project will house approximately 230,000 residents, surpassing cities like Tan An (Long An) and Phuc Yen (Vinh Phuc) and tripling Can Gio’s former population.
Located 50 km from Ho Chi Minh City’s center and 12 km from Vung Tau by sea, Vingroup plans to launch a 350 km/h metro line connecting the project to Ben Thanh Station next month, with operations starting in 2028. Travel time from the city center to Can Gio will then be just 13 minutes.
2. Vinhomes Ha Long Xanh – Vingroup’s Largest Investment Project
Vinhomes Ha Long Xanh, covering over 4,100 hectares—nearly the size of Ha Dong District and four times Ba Dinh District—is located in Tuan Chau and Ha An, Quang Ninh Province. Groundbreaking is scheduled for December 19.
With an investment of $18 billion—Vingroup’s largest—the project will offer over 55,000 properties for 244,000 residents. Construction is expected to take 10 years. The image shows the project’s master plan.
To connect the project to Hanoi, Vingroup’s VinSpeed will build a 120 km high-speed rail line with a $5 billion investment. Construction begins this year, and operations start in 2028. Travel time from Vinhomes Ha Long Xanh to Hanoi will be reduced to 30 minutes.
3. Phuoc Vinh Tay New Urban Area – Revitalizing Southern Ho Chi Minh City
Phuoc Vinh Tay New Urban Area, located in Can Giuoc District (now Phuoc Vinh Tay, Tay Ninh Province), covers nearly 1,100 hectares with a $3.1 billion investment. It will offer over 30,000 properties, including townhouses, villas, social housing, and resettlement homes, for approximately 90,000 residents—nearly half of Can Giuoc’s former population.
Construction began in August, with completion expected by 2030. The project is 25 km from Ho Chi Minh City’s center and accessible via National Highway 50.
4. Cam Lam New Urban Area – Khanh Hoa’s $10 Billion Mega-Project
Cam Lam New Urban Area in Khanh Hoa is one of the largest projects, covering 10,400 hectares—nearly 20 times the size of Hoan Kiem District, 10 times Dong Da District, and twice Ha Dong District (pre-merger Hanoi).
With a preliminary investment of over $10 billion (260.2 trillion VND), excluding $1.1 billion in compensation, the project will house 584,000 residents—equivalent to Cao Bang Province’s population.
Located 40 minutes from Nha Trang and 5 hours from Ho Chi Minh City via the Eastern North-South Expressway, the first phase is expected to begin in 2026 and operate from Q4 2028. The image shows the Cam Lam – Vinh Hao Expressway.
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